Texas 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. The Texas Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding contract between a property owner (referred to as the "Client") and a licensed real estate broker (referred to as the "Broker"). This agreement outlines the terms and conditions under which the Broker will act as an agent to lease the Client's premises, and details the commission structure for the services provided. Keywords: Texas Listing Agreement, Broker, Leasing of Premises, Commission Agreement, property owner, real estate broker, agent, commission structure. There are two main types of Texas Listing Agreement with Broker for Leasing of Premises with Commission Agreement: 1. Exclusive Right to Lease Agreement: This type of agreement grants the Broker an exclusive right to represent the Client in leasing the premises. It means that the Client cannot engage any other brokers or market the property themselves during the duration of the agreement. In this case, if the premises are leased to a tenant during the agreement period, regardless of who secures the lease, the Broker is entitled to the agreed-upon commission. 2. Non-Exclusive Agreement: Unlike the exclusive right to lease agreement, the non-exclusive agreement allows the Client to engage multiple brokers or market the property independently. In this scenario, the Client may choose to work with different brokers simultaneously and is only obligated to pay a commission to the Broker who brings in a suitable tenant and successfully leases the premises. The Texas Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically includes the following components: 1. Identification of Parties: The agreement specifies the legal names and contact information of both the Client and the Broker. 2. Description of Premises: A detailed description of the premises, including the address, square footage, and any additional relevant details. 3. Listing Price and Terms: The Client and the Broker agree on the listing price, rental terms, lease duration, and any specific conditions or limitations regarding the leasing of the premises. 4. Exclusive or Non-Exclusive Terms: The agreement clearly states whether it is an exclusive or non-exclusive agreement, outlining the rights and obligations of both parties accordingly. 5. Commission Structure: The commission structure is detailed, stating the percentage or flat fee agreed upon by the Client and the Broker for successfully leasing the premises. It may also cover any additional fees or terms related to the commission. 6. Representation and Duties: This section outlines the brokerage services the Broker will provide, including marketing and advertising the premises, screening potential tenants, drafting lease agreements, conducting property showings, and negotiating lease terms. 7. Term and Termination: The duration of the agreement is specified, along with conditions for termination by either party, such as breach of contract or failure to perform. 8. Indemnification and Liability: The agreement may include provisions for indemnifying and holding harmless both the Client and the Broker from any liabilities arising from the leasing process. 9. Governing Law and Jurisdiction: The agreement mentions that it will be governed by the laws of the state of Texas and any disputes will be settled in the appropriate state or federal court. It's important to note that the above description serves as a general overview. When entering into any legal agreement, it is recommended to consult with a qualified attorney who can provide guidance based on specific circumstances and requirements.

The Texas Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding contract between a property owner (referred to as the "Client") and a licensed real estate broker (referred to as the "Broker"). This agreement outlines the terms and conditions under which the Broker will act as an agent to lease the Client's premises, and details the commission structure for the services provided. Keywords: Texas Listing Agreement, Broker, Leasing of Premises, Commission Agreement, property owner, real estate broker, agent, commission structure. There are two main types of Texas Listing Agreement with Broker for Leasing of Premises with Commission Agreement: 1. Exclusive Right to Lease Agreement: This type of agreement grants the Broker an exclusive right to represent the Client in leasing the premises. It means that the Client cannot engage any other brokers or market the property themselves during the duration of the agreement. In this case, if the premises are leased to a tenant during the agreement period, regardless of who secures the lease, the Broker is entitled to the agreed-upon commission. 2. Non-Exclusive Agreement: Unlike the exclusive right to lease agreement, the non-exclusive agreement allows the Client to engage multiple brokers or market the property independently. In this scenario, the Client may choose to work with different brokers simultaneously and is only obligated to pay a commission to the Broker who brings in a suitable tenant and successfully leases the premises. The Texas Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically includes the following components: 1. Identification of Parties: The agreement specifies the legal names and contact information of both the Client and the Broker. 2. Description of Premises: A detailed description of the premises, including the address, square footage, and any additional relevant details. 3. Listing Price and Terms: The Client and the Broker agree on the listing price, rental terms, lease duration, and any specific conditions or limitations regarding the leasing of the premises. 4. Exclusive or Non-Exclusive Terms: The agreement clearly states whether it is an exclusive or non-exclusive agreement, outlining the rights and obligations of both parties accordingly. 5. Commission Structure: The commission structure is detailed, stating the percentage or flat fee agreed upon by the Client and the Broker for successfully leasing the premises. It may also cover any additional fees or terms related to the commission. 6. Representation and Duties: This section outlines the brokerage services the Broker will provide, including marketing and advertising the premises, screening potential tenants, drafting lease agreements, conducting property showings, and negotiating lease terms. 7. Term and Termination: The duration of the agreement is specified, along with conditions for termination by either party, such as breach of contract or failure to perform. 8. Indemnification and Liability: The agreement may include provisions for indemnifying and holding harmless both the Client and the Broker from any liabilities arising from the leasing process. 9. Governing Law and Jurisdiction: The agreement mentions that it will be governed by the laws of the state of Texas and any disputes will be settled in the appropriate state or federal court. It's important to note that the above description serves as a general overview. When entering into any legal agreement, it is recommended to consult with a qualified attorney who can provide guidance based on specific circumstances and requirements.