This form grants to a realtor or broker the sole and exclusive right to list and show the property on one ocassionsell the commercial property described in the agreement. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The South Dakota Listing Agreement with a Broker or Realtor to Sell Commercial Property or Real Estate refers to a legally binding contract between a property owner and a licensed real estate broker or agent, also known as a realtor, where the broker is authorized to represent and market the commercial property or real estate for sale. This agreement specifically applies to exclusive listing arrangements, where the property owner grants the broker the sole right to market and sell the property for a predetermined period of time. This comprehensive agreement outlines the terms and conditions under which the broker will undertake the marketing and sale of the property on behalf of the owner. It includes important details such as the property description, listing price, commission structure, duration of the agreement, and any specific terms or conditions that may apply. Within South Dakota, there may be different variations of the exclusive listing agreement, each tailored to the unique needs of the parties involved or pertaining to specific types of commercial property or real estate. Some potential variations or subtypes may include: 1. Exclusive Right to Sell Agreement: This is the most common type of exclusive listing agreement, where the broker is granted the exclusive right to market and sell the property on behalf of the owner. In this arrangement, the broker is entitled to a commission regardless of who ultimately sells the property. 2. Exclusive Agency Agreement: Under this agreement, the property owner retains the right to sell the property on their own without owing any commission to the broker. However, if the property is sold by the broker or any other agent, the broker is entitled to the agreed-upon commission. 3. Open Listing Agreement: This type of agreement allows the owner to work with multiple brokers simultaneously, with the understanding that the commission will be paid only to the broker who successfully closes the sale. Regardless of the specific type, a South Dakota Listing Agreement with a Broker or Realtor to Sell Commercial Property or Real Estate — Exclusive Listing acts as a legal safeguard for both the property owner and the broker. It ensures that the broker has the exclusive right to market and sell the property, while also protecting the owner's interests by defining the terms of the agreement, including the commission structure and the duration of the listing.
