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.
A Tennessee Listing Agreement with a broker or realtor is a legally binding contract that is entered into between a property owner and a licensed brokerage firm or real estate agent. This agreement grants the broker or agent the exclusive right to represent the property owner in the sale of a commercial property or real estate. Under an exclusive listing agreement in Tennessee, the property owner appoints the broker or realtor as their exclusive agent for a specified period of time. During this time, the broker or agent has the sole authority to market, advertise, and negotiate the sale of the property on behalf of the owner. The agreement establishes the terms and conditions of the arrangement, including the agreed-upon listing price, commission rate, and any other specific requirements or conditions deemed relevant. There are different types of exclusive listing agreements that can be used in Tennessee, tailored to different situations or client preferences. Some of these variations include: 1. Exclusive Right-to-Sell Listing: This is the most common type of exclusive listing agreement. Once signed, the broker or realtor has the exclusive right to market the property and earn a commission, regardless of who ultimately finds a buyer for the property. 2. Exclusive Agency Listing: In this type of agreement, the property owner retains the right to sell the property by themselves without owing a commission to the broker or agent. However, if the property owner utilizes the broker or agent's services to secure a buyer, they will be entitled to a commission. 3. Net Listing: In a net listing agreement, the property owner sets a minimum amount they wish to receive from the sale of the property. If the property sells for an amount exceeding this minimum, the broker or agent retains the excess funds as their commission. Net listings are not as common due to potential conflicts of interest and their potential to violate real estate licensing laws. Regardless of the specific type of exclusive listing agreement used in Tennessee, it is crucial for both parties to thoroughly review and understand the terms and conditions outlined in the agreement before signing. Property owners should carefully consider the chosen broker or agent's qualifications, experience, and track record before entering into such an agreement to ensure the sale of their commercial property or real estate is handled professionally and efficiently.
