Tennessee Exclusive Listing Agreement - Residential

• Category: Real Estate - Home Sale
• State: Multi-State
• Control #: US-01727-AZ
• Format: Word; Rich Text

Description

This form is an exclusive listing agreement between broker/agent and seller. Broker/agent will exclusively represent seller in the attempt to sell. Commission or other compensation is agreed upon. Adapt to fit your specific circumstances. A Tennessee Exclusive Listing Agreement — Residential is a legally binding contract between a homeowner or seller and a real estate agent, commonly known as a listing agent, that grants the agent exclusive rights to market and sell the residential property. This agreement outlines the terms and conditions of the arrangement, including the duration of the agreement, the agreed-upon listing price, the commission rate, and any specific terms unique to the property. In Tennessee, there may be different types of Exclusive Listing Agreements — Residential, categorized based on their exclusivity and duration: 1. Exclusive Right to Sell Agreement: This is the most common type of agreement wherein the listing agent has exclusive rights to sell the property during the specified time frame. Regardless of who brings the buyer, the agent is entitled to the agreed-upon commission. 2. Exclusive Agency Agreement: In this agreement, the listing agent is given exclusive rights to market and sell the property, but the homeowner reserves the right to find a buyer independently. If the homeowner finds a buyer without the agent's involvement, no commission is owed to the agent. 3. Multiple Listing Service (MLS) Agreement: With this agreement, the listing agent ensures that the property is listed on the local MLS, allowing other real estate agents to market and sell the property. However, the listing agent still retains the exclusive right to a commission if they or another agent within their brokerage sells the property. Regardless of the specific type of Exclusive Listing Agreement — Residential, certain crucial elements should be included in the contract. For instance: a) Duration: The start and end dates of the listing agreement should be clearly stated. b) Listing Price: The agreed-upon price at which the property will be listed must be specified. c) Commission: The commission rate or percentage that the seller agrees to pay the listing agent upon the successful sale of the property should be clearly defined. d) Responsibilities: The duties and responsibilities of both the seller and the listing agent, such as marketing, showing the property, and facilitating negotiations, should be detailed. e) Termination: The circumstances under which the agreement can be terminated by either party, such as non-performance or breach, should be explicitly stated. f) Property Disclosure: The seller should provide all necessary disclosures and information pertaining to the property's condition, repairs, and any potential issues. g) Additional Terms: Any unique provisions or conditions specific to the property or the agreement should be clearly mentioned. In conclusion, a Tennessee Exclusive Listing Agreement — Residential is a contract that establishes an exclusive relationship between a homeowner and a listing agent, granting the agent the sole right to market and sell the residential property. By entering into this agreement, homeowners can ensure dedicated representation, professional marketing, and an agent's fiduciary duty to act in their best interest throughout the sale process.

A Tennessee Exclusive Listing Agreement — Residential is a legally binding contract between a homeowner or seller and a real estate agent, commonly known as a listing agent, that grants the agent exclusive rights to market and sell the residential property. This agreement outlines the terms and conditions of the arrangement, including the duration of the agreement, the agreed-upon listing price, the commission rate, and any specific terms unique to the property. In Tennessee, there may be different types of Exclusive Listing Agreements — Residential, categorized based on their exclusivity and duration: 1. Exclusive Right to Sell Agreement: This is the most common type of agreement wherein the listing agent has exclusive rights to sell the property during the specified time frame. Regardless of who brings the buyer, the agent is entitled to the agreed-upon commission. 2. Exclusive Agency Agreement: In this agreement, the listing agent is given exclusive rights to market and sell the property, but the homeowner reserves the right to find a buyer independently. If the homeowner finds a buyer without the agent's involvement, no commission is owed to the agent. 3. Multiple Listing Service (MLS) Agreement: With this agreement, the listing agent ensures that the property is listed on the local MLS, allowing other real estate agents to market and sell the property. However, the listing agent still retains the exclusive right to a commission if they or another agent within their brokerage sells the property. Regardless of the specific type of Exclusive Listing Agreement — Residential, certain crucial elements should be included in the contract. For instance: a) Duration: The start and end dates of the listing agreement should be clearly stated. b) Listing Price: The agreed-upon price at which the property will be listed must be specified. c) Commission: The commission rate or percentage that the seller agrees to pay the listing agent upon the successful sale of the property should be clearly defined. d) Responsibilities: The duties and responsibilities of both the seller and the listing agent, such as marketing, showing the property, and facilitating negotiations, should be detailed. e) Termination: The circumstances under which the agreement can be terminated by either party, such as non-performance or breach, should be explicitly stated. f) Property Disclosure: The seller should provide all necessary disclosures and information pertaining to the property's condition, repairs, and any potential issues. g) Additional Terms: Any unique provisions or conditions specific to the property or the agreement should be clearly mentioned. In conclusion, a Tennessee Exclusive Listing Agreement — Residential is a contract that establishes an exclusive relationship between a homeowner and a listing agent, granting the agent the sole right to market and sell the residential property. By entering into this agreement, homeowners can ensure dedicated representation, professional marketing, and an agent's fiduciary duty to act in their best interest throughout the sale process.