Exclusive Listing Agreement for Sale of Premises

• Category: Contracts - Listing Agreements
• State: Multi-State
• Control #: US-0949BG
• Format: Word; Rich Text

Description

Under an exclusive right-to-sell agreement, the listing firm is offered compensation in the event of a sale regardless of who procured the eventual purchaser. In contrast, under an exclusive agency agreement, the seller only offers the listing firm compensation if the purchaser is procured through the firm's efforts or the efforts of other real estate firms. This means that in certain situations the listing firm may not receive compensation if the property is sold. In the exclusive agency agreement, the listing firm or another firm working with the listing firm must procure the purchaser in order to have a claim on compensation. An Exclusive Listing Agreement for Sale of Premises is a legal contract between a seller and a real estate broker that grants the broker exclusive rights to market and sell the seller’s property. This type of agreement usually includes a commission for the broker, which is typically a certain percentage of the sale price, and a period of time, typically 6 months or a year, during which time the broker is the only party authorized to market and list the property for sale. The agreement may also include provisions for advertising and marketing activities, such as open houses and brochures. There are two main types of Exclusive Listing Agreement for Sale of Premises: an “Open Listing” and a “Sole Agency Listing”. A “Open Listing” is a listing where a property owner gives multiple real estate agents the right to market and list the property, while a “Sole Agency Listing” is a listing where only one agent is given exclusive rights to list and market the property.

An Exclusive Listing Agreement for Sale of Premises is a legal contract between a seller and a real estate broker that grants the broker exclusive rights to market and sell the seller’s property. This type of agreement usually includes a commission for the broker, which is typically a certain percentage of the sale price, and a period of time, typically 6 months or a year, during which time the broker is the only party authorized to market and list the property for sale. The agreement may also include provisions for advertising and marketing activities, such as open houses and brochures. There are two main types of Exclusive Listing Agreement for Sale of Premises: an “Open Listing” and a “Sole Agency Listing”. A “Open Listing” is a listing where a property owner gives multiple real estate agents the right to market and list the property, while a “Sole Agency Listing” is a listing where only one agent is given exclusive rights to list and market the property.