Oakland Michigan Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a contractual arrangement between a property owner or landlord and a licensed real estate broker in Oakland, Michigan. This agreement outlines the terms and conditions under which the broker is authorized to lease the premises on behalf of the owner, and the commission structure that the broker will receive for their services. Keywords: Oakland Michigan, Listing Agreement, Broker, Leasing, Premises, Commission Agreement There are different types of listing agreements that can be used in Oakland, Michigan, depending on the specific needs of the property owner and the broker. Some common types include: 1. Exclusive Right-to-Lease Listing Agreement: This type of agreement gives the broker exclusive rights to represent the owner in leasing the premises. The owner cannot work with other brokers during the term of this agreement, and if the property is leased during this period, the broker is entitled to the agreed-upon commission. 2. Open Listing Agreement: In an open listing agreement, the owner can work with multiple brokers simultaneously. The broker who finds a tenant and successfully leases the premises is entitled to the commission. However, if the owner finds a tenant independently, no commission would be paid. 3. Exclusive Agency Listing Agreement: This agreement allows the owner to lease the premises independently while giving the broker the exclusive right to market and solicit clients. If the broker successfully leases the property to a tenant, they receive the commission. However, if the owner leases the property without the broker's assistance, no commission is paid. 4. Net Listing Agreement: In a net listing agreement, the owner agrees on a specific net amount that they want to receive from the lease. The broker's commission is added on top of this net amount, and any excess generated by the lease becomes the broker's compensation. These are just a few examples of different listing agreements that can be used in Oakland, Michigan. It is important for both the property owner and the broker to thoroughly review and understand the terms of the agreement before entering into this legally binding contract.
Oakland Michigan Listing Agreement with Broker for Leasing of Premises with Commission Agreement
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