Washington Open Listing Agreement - Residential

• Category: Real Estate - Home Sale
• State: Multi-State
• Control #: US-01728-AZ
• Format: Word; Rich Text

Description

This form is an open listing agreement between broker and seller allowing broker to represent seller and list property for sale in real estate listing services. Adapt to fit your specific needs. Don't reinvent the wheel, save time and money. The Washington Open Listing Agreement — Residential is a legal document used in the real estate industry in Washington state. It establishes a contractual agreement between a homeowner (the seller) and a real estate agent (the listing agent) regarding the terms and conditions of selling a residential property. This open listing agreement provides flexibility for the seller to work with multiple agents simultaneously, giving them the freedom to choose the agent who brings the best offer. The agreement outlines the responsibilities and obligations of both the seller and the listing agent throughout the selling process. Key elements typically covered in a Washington Open Listing Agreement may include: 1. Property Details: The agreement includes a detailed description of the residential property being sold, including its address, legal description, and any other pertinent information. 2. Listing Terms: This section outlines the duration of the agreement, usually expressed in a specific time period or until the property sells, whichever comes first. It may also include any automatic renewal clauses or seller termination rights. 3. Compensation Structure: The agreement defines how the listing agent will be compensated for their services. It often states a percentage or flat fee based on the final sales price of the property. The agent's commission might vary depending on certain conditions, such as whether they find the buyer or another agent brings the buyer. 4. Seller's Cooperation: The seller agrees to cooperate with the listing agent by providing accurate and up-to-date information about the property, such as its condition, features, and any potential issues that might affect the sale. The seller also permits the agent to install a yard sign, take photographs, conduct showings, and advertise the property on various platforms. 5. Exclusive Agency Provisions: Some open listing agreements may include provisions that grant the listing agent the exclusive right to market the property during the agreement's duration. This means that the seller cannot independently market or hire other agents unless stated otherwise. 6. Disclosure Requirements: The agreement may mention the seller's obligation to disclose any known defects, hazards, or pertinent information about the property, as required by Washington state laws. It is important to note that while the term "Washington Open Listing Agreement — Residential" generally refers to the agreement type allowing multiple agents, there might be variations or customized versions, such as exclusive open listings, limited open listings, or even exclusive right to sell listings. These variations can have specific clauses or restrictions, offering more or less exclusivity to the listing agent. Agents and sellers should consult a qualified professional or attorney to ensure they understand the specific terms and conditions of the Washington Open Listing Agreement — Residential they plan to use, as well as any additional requirements or restrictions imposed by local real estate regulations.

The Washington Open Listing Agreement — Residential is a legal document used in the real estate industry in Washington state. It establishes a contractual agreement between a homeowner (the seller) and a real estate agent (the listing agent) regarding the terms and conditions of selling a residential property. This open listing agreement provides flexibility for the seller to work with multiple agents simultaneously, giving them the freedom to choose the agent who brings the best offer. The agreement outlines the responsibilities and obligations of both the seller and the listing agent throughout the selling process. Key elements typically covered in a Washington Open Listing Agreement may include: 1. Property Details: The agreement includes a detailed description of the residential property being sold, including its address, legal description, and any other pertinent information. 2. Listing Terms: This section outlines the duration of the agreement, usually expressed in a specific time period or until the property sells, whichever comes first. It may also include any automatic renewal clauses or seller termination rights. 3. Compensation Structure: The agreement defines how the listing agent will be compensated for their services. It often states a percentage or flat fee based on the final sales price of the property. The agent's commission might vary depending on certain conditions, such as whether they find the buyer or another agent brings the buyer. 4. Seller's Cooperation: The seller agrees to cooperate with the listing agent by providing accurate and up-to-date information about the property, such as its condition, features, and any potential issues that might affect the sale. The seller also permits the agent to install a yard sign, take photographs, conduct showings, and advertise the property on various platforms. 5. Exclusive Agency Provisions: Some open listing agreements may include provisions that grant the listing agent the exclusive right to market the property during the agreement's duration. This means that the seller cannot independently market or hire other agents unless stated otherwise. 6. Disclosure Requirements: The agreement may mention the seller's obligation to disclose any known defects, hazards, or pertinent information about the property, as required by Washington state laws. It is important to note that while the term "Washington Open Listing Agreement — Residential" generally refers to the agreement type allowing multiple agents, there might be variations or customized versions, such as exclusive open listings, limited open listings, or even exclusive right to sell listings. These variations can have specific clauses or restrictions, offering more or less exclusivity to the listing agent. Agents and sellers should consult a qualified professional or attorney to ensure they understand the specific terms and conditions of the Washington Open Listing Agreement — Residential they plan to use, as well as any additional requirements or restrictions imposed by local real estate regulations.