A broker is an agent who bargains or conducts negotiations for and on behalf of a person he or she represents, called a principal. The broker acts as an intermediary between the principal and third persons in the acquisition of contractual rights or the sale or purchase of property, and receives a commission or brokerage fee for his or her services. A broker has a duty to act in the principal's interest and not gain personal advantage at the principal's expense. The broker must avoid conflicts of interest that may arise in performing duties for or advising third parties whose interests are not aligned with those of the principal. A real estate broker offers services as agent in matters involving the sale, purchase, rental, and financing of real property.
The terms of the brokerage agreement determine the character of the services to be rendered as well as the broker's right to compensation in particular circumstances.
The Tennessee Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract between a property owner (the principal) and a licensed real estate broker (the listing agent), who is given the exclusive right to market and sell the property on behalf of the owner. This agreement allows the listing agent to work with other brokers, also known as co-brokers, to bring potential buyers to the property. The primary purpose of this agreement is to establish a professional relationship between the principal and the listing agent and outline the terms and conditions under which the property will be marketed and sold. It ensures that the listing agent has the exclusive right to advertise and solicit offers for the property during the agreed-upon listing period. Keywords: Tennessee, Exclusive Sales Agency Listing Agreement, Sale of Real Property, Brokers, Solicit Co-Brokers There are different types of Tennessee Exclusive Sales Agency Listing Agreements for Sale of Real Property with Brokers to Solicit Co-Brokers, including: 1. State-approved standard agreement: This is the standard template provided by the state of Tennessee for listing agents and property owners to use when entering into an exclusive sales agency agreement. It covers the essential terms and conditions and is widely used across the state. 2. Customized agreement: Sometimes, principals and listing agents may negotiate and customize the terms of the agreement to suit their specific needs or circumstances. This may involve modifying the commission structure, listing period, or any other provisions outlined in the standard agreement. 3. Renewal agreement: If the initial listing period expires without the property being sold, the principal and listing agent may agree to renew the agreement for an additional period. The renewal agreement would outline any changes to the original terms and ensure the listing agent retains the exclusive right to market and sell the property. 4. Multiple listing agreement: In some cases, a principal may choose to list their property with multiple listing agents simultaneously. A multiple listing agreement allows the property to be marketed and promoted by several agents at once, potentially increasing exposure and the chances of finding a buyer. These are some variations of the Tennessee Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers. It is important for both parties to carefully review and understand the terms and conditions before entering into this agreement, as it governs the real estate transaction and sets the stage for a successful sale.The Tennessee Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract between a property owner (the principal) and a licensed real estate broker (the listing agent), who is given the exclusive right to market and sell the property on behalf of the owner. This agreement allows the listing agent to work with other brokers, also known as co-brokers, to bring potential buyers to the property. The primary purpose of this agreement is to establish a professional relationship between the principal and the listing agent and outline the terms and conditions under which the property will be marketed and sold. It ensures that the listing agent has the exclusive right to advertise and solicit offers for the property during the agreed-upon listing period. Keywords: Tennessee, Exclusive Sales Agency Listing Agreement, Sale of Real Property, Brokers, Solicit Co-Brokers There are different types of Tennessee Exclusive Sales Agency Listing Agreements for Sale of Real Property with Brokers to Solicit Co-Brokers, including: 1. State-approved standard agreement: This is the standard template provided by the state of Tennessee for listing agents and property owners to use when entering into an exclusive sales agency agreement. It covers the essential terms and conditions and is widely used across the state. 2. Customized agreement: Sometimes, principals and listing agents may negotiate and customize the terms of the agreement to suit their specific needs or circumstances. This may involve modifying the commission structure, listing period, or any other provisions outlined in the standard agreement. 3. Renewal agreement: If the initial listing period expires without the property being sold, the principal and listing agent may agree to renew the agreement for an additional period. The renewal agreement would outline any changes to the original terms and ensure the listing agent retains the exclusive right to market and sell the property. 4. Multiple listing agreement: In some cases, a principal may choose to list their property with multiple listing agents simultaneously. A multiple listing agreement allows the property to be marketed and promoted by several agents at once, potentially increasing exposure and the chances of finding a buyer. These are some variations of the Tennessee Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers. It is important for both parties to carefully review and understand the terms and conditions before entering into this agreement, as it governs the real estate transaction and sets the stage for a successful sale.
