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.
The Utah Listing Agreement with a Broker or Realtor is a legal document that outlines the terms and conditions under which a property owner agrees to list and sell their commercial property or real estate through the services of a licensed broker or realtor. This agreement creates an exclusive listing arrangement between the property owner (referred to as the "Principal") and the broker or realtor (referred to as the "Agent"). The purpose of this agreement is to define the responsibilities and obligations of both parties involved in the transaction. The Principal grants the Agent the exclusive right to market, advertise, and sell the property during the term of the agreement, while the Agent agrees to use their best efforts to secure a buyer for the property. The agreement includes various essential details, including the property's legal description, address, and any specific exclusions or inclusions. It also specifies the agreed-upon listing price, any desired terms or conditions, and the duration of the agreement. The duration can vary, typically ranging from three months to one year, with an option to extend if both parties agree. Within the Utah Listing Agreement, there are two primary types of exclusive listings: the Exclusive Agency Listing and the Exclusive Right to Sell Listing. 1. Exclusive Agency Listing: This type of agreement allows the Principal to sell the property independently without paying any commission to the Agent, but if the Agent procures a buyer, the Principal is obliged to pay the agreed-upon commission. 2. Exclusive Right to Sell Listing: In this type of agreement, the Agent has the exclusive right to sell the property, and regardless of who procures the buyer (including the Principal), the Agent is entitled to the agreed-upon commission. Both types of exclusive listings provide advantages and protections for the Agent, such as ensuring they are compensated if a buyer is found during the listing term. Additionally, the exclusivity of the agreement motivates the Agent to invest time, resources, and expertise into marketing and selling the property. Before signing the Utah Listing Agreement, it is crucial for both parties to thoroughly review the terms and conditions, seek legal advice if necessary, and negotiate any desired modifications or additions.
