Middlesex Massachusetts Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding document that outlines the terms and conditions between a property owner (the "Principal") and a licensed real estate broker (the "Broker") for the purpose of leasing a property in Middlesex County, Massachusetts. This agreement establishes the responsibilities and obligations of both the Principal and the Broker in the leasing process. It includes details such as the property's address, description, and rental terms. Both parties must carefully review and sign the agreement to ensure a clear understanding of their roles and obligations. The Middlesex Massachusetts Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically defines the types of services the Broker will provide, such as advertising the property, conducting showings, screening potential tenants, and negotiating lease terms on behalf of the Principal. The commission structure, which is usually a percentage of the total lease value, is also outlined within the agreement. Furthermore, this agreement may have variations or types, including: 1. Exclusive Right to Lease Listing Agreement: This type of agreement grants the Broker exclusive rights to market and lease the property. The Principal agrees not to work with any other brokers during the specified term. 2. Non-Exclusive Right to Lease Listing Agreement: This agreement allows the Principal to engage multiple brokers to lease the property simultaneously. The broker who ultimately secures the tenant is entitled to the commission. 3. Open Listing Agreement: In an open listing agreement, the Principal has the freedom to market the property independently, without exclusivity to any one broker. If a broker brings a tenant who successfully signs a lease, they receive the commission. It is essential for both parties to carefully review the Agreement, ensuring that all terms are accurately stated and agreed upon. Seeking legal advice may be beneficial to ensure compliance with Massachusetts laws and regulations.
Middlesex Massachusetts Listing Agreement with Broker for Leasing of Premises with Commission Agreement
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