New York Listing Agreement with Broker for Leasing of Premises with Commission Agreement

• Category: Real Estate - Listing Agreements
• State: Multi-State
• Control #: US-0584BG
• Format: Word; Rich Text

Description

This form is a listing agreement with a broker for the leasing of real property and contains a commission agreement. A New York Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal contract between a property owner or landlord and a real estate broker. This agreement outlines the terms and conditions for listing the premises, marketing activities, and the commission structure for leasing the property to a tenant. Key terms included in this agreement may include the duration of the listing, the listing price or rental rate, the broker's exclusive right to market the property, and the commission percentage or fee. Additionally, the agreement may specify the responsibilities of both the landlord and the broker regarding property showings, tenant screening, lease negotiations, and other necessary formalities. In New York, there are different types of Listing Agreements with Brokers for Leasing of Premises with Commission Agreements, including: 1. Exclusive Right to Lease Agreement: This type of agreement grants the broker an exclusive right to advertise and lease the property during the listing period. The landlord cannot work with any other brokers or market the premises independently. If the property is leased during the listing period, the broker is entitled to the agreed-upon commission. 2. Open Listing Agreement: With an open listing agreement, the landlord has the right to work with multiple brokers simultaneously to market and lease the premises. The broker who finds a tenant first will receive the commission. However, if the landlord successfully leases the property without involving any broker, no commission needs to be paid. 3. Exclusive Agency Agreement: In this arrangement, the landlord grants exclusivity to one broker, prohibiting the landlord from working with other brokers. However, unlike an exclusive right to lease agreement, the landlord reserves the right to lease the property on their own without paying any commission to the broker. The broker only receives a commission if they are directly responsible for finding a tenant. 4. Net Listing Agreement: This is a less common type of agreement where the landlord specifies the net amount they want to receive from leasing the property. The broker's commission is negotiable and any amount exceeding the net amount will be retained by the landlord. Net listing agreements are subject to specific regulations to prevent potential conflicts of interest. It is important for property owners and brokers to carefully review and understand the terms and conditions specified in a New York Listing Agreement with Broker for Leasing of Premises with Commission Agreement. Seeking legal advice before signing any contract is highly recommended protecting the interests of both parties involved.

A New York Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal contract between a property owner or landlord and a real estate broker. This agreement outlines the terms and conditions for listing the premises, marketing activities, and the commission structure for leasing the property to a tenant. Key terms included in this agreement may include the duration of the listing, the listing price or rental rate, the broker's exclusive right to market the property, and the commission percentage or fee. Additionally, the agreement may specify the responsibilities of both the landlord and the broker regarding property showings, tenant screening, lease negotiations, and other necessary formalities. In New York, there are different types of Listing Agreements with Brokers for Leasing of Premises with Commission Agreements, including: 1. Exclusive Right to Lease Agreement: This type of agreement grants the broker an exclusive right to advertise and lease the property during the listing period. The landlord cannot work with any other brokers or market the premises independently. If the property is leased during the listing period, the broker is entitled to the agreed-upon commission. 2. Open Listing Agreement: With an open listing agreement, the landlord has the right to work with multiple brokers simultaneously to market and lease the premises. The broker who finds a tenant first will receive the commission. However, if the landlord successfully leases the property without involving any broker, no commission needs to be paid. 3. Exclusive Agency Agreement: In this arrangement, the landlord grants exclusivity to one broker, prohibiting the landlord from working with other brokers. However, unlike an exclusive right to lease agreement, the landlord reserves the right to lease the property on their own without paying any commission to the broker. The broker only receives a commission if they are directly responsible for finding a tenant. 4. Net Listing Agreement: This is a less common type of agreement where the landlord specifies the net amount they want to receive from leasing the property. The broker's commission is negotiable and any amount exceeding the net amount will be retained by the landlord. Net listing agreements are subject to specific regulations to prevent potential conflicts of interest. It is important for property owners and brokers to carefully review and understand the terms and conditions specified in a New York Listing Agreement with Broker for Leasing of Premises with Commission Agreement. Seeking legal advice before signing any contract is highly recommended protecting the interests of both parties involved.