South Dakota 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. South Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding contract between a property owner (the client) and a licensed real estate broker. This agreement outlines the terms and conditions under which the broker will list and market the client's property to find potential tenants for leasing. The South Dakota listing agreement is designed to protect both the client and the broker throughout the leasing process. It ensures that the broker will act in the best interest of the client and diligently work to secure a suitable tenant. In return, the client agrees to pay the broker a commission fee upon successful lease execution. This comprehensive agreement includes several key elements: 1. Property Description: The agreement starts by providing a detailed description of the property to be leased, including address, legal description, and any restrictions or limitations. 2. Exclusive Right to Lease: The client grants the broker an exclusive right to lease the property, meaning that only the broker is authorized to market and negotiate lease agreements on behalf of the client during the agreed-upon time period. 3. Terms and Conditions: The agreement specifies the duration for which the broker has the exclusive right to lease the property. It also outlines the commission fee structure, which is typically a percentage of the total lease value but can vary based on negotiation. 4. Marketing and Promotion: The broker is responsible for diligently marketing the property to potential tenants through various channels, such as online listings, publications, social media, and direct contact with other real estate professionals. 5. Tenant Screening and Selection: The broker agrees to screen potential tenants by conducting background checks, verifying their financial standing, and assessing their suitability for the property. The client may have specific criteria for tenant selection, which should be outlined in the agreement. 6. Lease Negotiation and Execution: Once a suitable tenant is found, the broker will negotiate lease terms and present offers to the client for approval. Once both parties agree on the terms, the broker shall draft the lease agreement for execution. 7. Commission Payment: The client agrees to pay the broker a commission fee upon successful lease execution. The commission amount is usually a percentage of the total lease value, and the agreement specifies the timing and method of payment. It's important to note that while this description covers the general aspects of a South Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement, there may be variations or additional clauses depending on the specific needs and requirements of the client and broker. Potential keywords: South Dakota, real estate, listing agreement, broker, leasing premises, commission agreement, property owner, exclusive right to lease, marketing, tenant screening, lease negotiation, commission fee.

South Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding contract between a property owner (the client) and a licensed real estate broker. This agreement outlines the terms and conditions under which the broker will list and market the client's property to find potential tenants for leasing. The South Dakota listing agreement is designed to protect both the client and the broker throughout the leasing process. It ensures that the broker will act in the best interest of the client and diligently work to secure a suitable tenant. In return, the client agrees to pay the broker a commission fee upon successful lease execution. This comprehensive agreement includes several key elements: 1. Property Description: The agreement starts by providing a detailed description of the property to be leased, including address, legal description, and any restrictions or limitations. 2. Exclusive Right to Lease: The client grants the broker an exclusive right to lease the property, meaning that only the broker is authorized to market and negotiate lease agreements on behalf of the client during the agreed-upon time period. 3. Terms and Conditions: The agreement specifies the duration for which the broker has the exclusive right to lease the property. It also outlines the commission fee structure, which is typically a percentage of the total lease value but can vary based on negotiation. 4. Marketing and Promotion: The broker is responsible for diligently marketing the property to potential tenants through various channels, such as online listings, publications, social media, and direct contact with other real estate professionals. 5. Tenant Screening and Selection: The broker agrees to screen potential tenants by conducting background checks, verifying their financial standing, and assessing their suitability for the property. The client may have specific criteria for tenant selection, which should be outlined in the agreement. 6. Lease Negotiation and Execution: Once a suitable tenant is found, the broker will negotiate lease terms and present offers to the client for approval. Once both parties agree on the terms, the broker shall draft the lease agreement for execution. 7. Commission Payment: The client agrees to pay the broker a commission fee upon successful lease execution. The commission amount is usually a percentage of the total lease value, and the agreement specifies the timing and method of payment. It's important to note that while this description covers the general aspects of a South Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement, there may be variations or additional clauses depending on the specific needs and requirements of the client and broker. Potential keywords: South Dakota, real estate, listing agreement, broker, leasing premises, commission agreement, property owner, exclusive right to lease, marketing, tenant screening, lease negotiation, commission fee.