King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement

• Category: Real Estate - Listing Agreements
• State: Multi-State
• County: King
• 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. King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a contractual agreement between a property owner (referred to as the "Principal") and a licensed real estate broker (referred to as the "Broker"), for the purpose of leasing the premises owned by the Principal. This agreement outlines the terms and conditions under which the Broker will exclusively represent the Principal in finding suitable tenants and negotiating lease agreements on their behalf. It also specifies the commission structure and payment terms for the Broker based on the successful execution of lease agreements. The King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically includes the following key components: 1. Parties involved: This section identifies the Principal, who is the legal owner of the property, and the Broker, who is licensed to carry out real estate activities. 2. Property details: It provides a detailed description of the premises to be leased, including its address, dimensions, and any specific features or amenities. 3. Exclusive representation: The agreement confirms that the Principal grants exclusive rights to the Broker to act as their representative in all matters related to leasing the property during a specified period. This means that the Principal cannot engage other brokers or list the property elsewhere during the agreement's duration. 4. Responsibilities of the Broker: This section outlines the duties and obligations of the Broker, which may include conducting market research, advertising the property, arranging property showings, and negotiating lease terms with potential tenants. 5. Commission structure: The agreement specifies the commission percentage or fee that the Principal will pay to the Broker upon successful completion of a lease agreement. It may also include any additional expenses that the Principal is required to reimburse to the Broker, such as marketing costs or legal fees. 6. Termination clause: This section explains the circumstances under which either party may terminate the agreement before its scheduled expiration date, ensuring that both parties have a clear understanding of their rights and obligations in case of early termination. Different types of King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement may exist based on specific leasing scenarios or property types. Some possible variations include: 1. Residential Listing Agreement: Specifically designed for leasing residential properties such as houses or apartments, this agreement addresses the unique considerations and regulations associated with residential leases. 2. Commercial Listing Agreement: Tailored for leasing commercial properties like office spaces, retail spaces, or industrial facilities, this agreement takes into account the distinct requirements and market dynamics of the commercial real estate sector. 3. Vacation Rental Listing Agreement: Used for leasing short-term vacation rental properties, this type of agreement typically includes additional clauses related to rental rates, minimum stay requirements, and property management services. 4. Land Listing Agreement: Suitable for leasing vacant land or agricultural properties, this agreement may focus on identifying potential tenants for specific land uses, such as farming, grazing, or development purposes. In conclusion, the King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement establishes a formal relationship between the Principal and Broker, setting out the conditions for leasing the Principal's property and ensuring fair compensation for the Broker's services. This agreement serves as a vital document to safeguard the interests of both parties involved and facilitate the smooth leasing process.

King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a contractual agreement between a property owner (referred to as the "Principal") and a licensed real estate broker (referred to as the "Broker"), for the purpose of leasing the premises owned by the Principal. This agreement outlines the terms and conditions under which the Broker will exclusively represent the Principal in finding suitable tenants and negotiating lease agreements on their behalf. It also specifies the commission structure and payment terms for the Broker based on the successful execution of lease agreements. The King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically includes the following key components: 1. Parties involved: This section identifies the Principal, who is the legal owner of the property, and the Broker, who is licensed to carry out real estate activities. 2. Property details: It provides a detailed description of the premises to be leased, including its address, dimensions, and any specific features or amenities. 3. Exclusive representation: The agreement confirms that the Principal grants exclusive rights to the Broker to act as their representative in all matters related to leasing the property during a specified period. This means that the Principal cannot engage other brokers or list the property elsewhere during the agreement's duration. 4. Responsibilities of the Broker: This section outlines the duties and obligations of the Broker, which may include conducting market research, advertising the property, arranging property showings, and negotiating lease terms with potential tenants. 5. Commission structure: The agreement specifies the commission percentage or fee that the Principal will pay to the Broker upon successful completion of a lease agreement. It may also include any additional expenses that the Principal is required to reimburse to the Broker, such as marketing costs or legal fees. 6. Termination clause: This section explains the circumstances under which either party may terminate the agreement before its scheduled expiration date, ensuring that both parties have a clear understanding of their rights and obligations in case of early termination. Different types of King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement may exist based on specific leasing scenarios or property types. Some possible variations include: 1. Residential Listing Agreement: Specifically designed for leasing residential properties such as houses or apartments, this agreement addresses the unique considerations and regulations associated with residential leases. 2. Commercial Listing Agreement: Tailored for leasing commercial properties like office spaces, retail spaces, or industrial facilities, this agreement takes into account the distinct requirements and market dynamics of the commercial real estate sector. 3. Vacation Rental Listing Agreement: Used for leasing short-term vacation rental properties, this type of agreement typically includes additional clauses related to rental rates, minimum stay requirements, and property management services. 4. Land Listing Agreement: Suitable for leasing vacant land or agricultural properties, this agreement may focus on identifying potential tenants for specific land uses, such as farming, grazing, or development purposes. In conclusion, the King Washington Listing Agreement with Broker for Leasing of Premises with Commission Agreement establishes a formal relationship between the Principal and Broker, setting out the conditions for leasing the Principal's property and ensuring fair compensation for the Broker's services. This agreement serves as a vital document to safeguard the interests of both parties involved and facilitate the smooth leasing process.