The Exclusive Real Estate Agent Contract is a crucial document in Canadian real estate transactions, used when a property owner wishes to engage a single real estate agent or brokerage firm for selling or leasing their property. This agreement, governed by provincial real estate laws and regulations, provides the agent with exclusive rights to market and sell the property for a specified period, typically ranging from 3-6 months. The document includes essential elements such as property details, commission structures, marketing obligations, and service commitments, while ensuring compliance with provincial real estate boards' requirements and professional standards. It's particularly important for protecting both parties' interests and establishing clear expectations for the professional relationship, including specific performance metrics and termination conditions.
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1. Parties: Identifies and provides full legal details of the property owner (the 'Client') and the licensed real estate agent/brokerage (the 'Agent')
2. Background: Establishes the context of the agreement, including the Client's intention to sell/lease the property and the Agent's qualifications and licenses
3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Listing Period', 'Commission', and 'Exclusive Rights'
4. Appointment and Authority: Establishes the exclusive appointment of the Agent and defines the scope of authority granted
5. Property Details: Complete legal description and details of the property being listed
6. Term of Agreement: Specifies the duration of the exclusive agreement, including start and end dates
7. Listing Price and Terms: States the agreed listing price and basic terms for selling/leasing the property
8. Commission Structure: Details the commission rate, payment terms, and circumstances under which commission becomes payable
9. Agent's Obligations: Comprehensive list of services and duties the Agent agrees to perform
10. Client's Obligations: Outlines the property owner's responsibilities and commitments
11. Termination: Conditions and procedures for ending the agreement
12. Representations and Warranties: Statements of fact and guarantees by both parties
13. Governing Law: Specifies that the agreement is governed by Canadian law and the applicable provincial jurisdiction
14. Entire Agreement: Confirms that this document represents the complete agreement between parties
1. Multiple Listing Service: Details regarding MLS listing services, used when the property will be listed on MLS
2. Photography and Marketing: Specific terms regarding property photography and marketing strategies, used when special marketing arrangements are needed
3. Virtual Tours: Terms regarding virtual tour creation and usage, included when virtual tours will be part of the marketing strategy
4. International Marketing: Additional terms for international property marketing, used when targeting international buyers
5. Property Management: Terms regarding property management during the listing period, used for vacant properties
6. Holdover Period: Terms regarding commission for sales after the agreement ends, used when this protection is required
7. Team Representation: Details about team members who may represent the agent, used when multiple agents will be involved
8. Conflict Resolution: Specific procedures for dispute resolution, used when detailed conflict resolution procedures are desired
1. Schedule A - Property Description: Detailed description of the property including lot size, building specifications, and included fixtures
2. Schedule B - Commission Schedule: Detailed breakdown of commission structures and payment terms
3. Schedule C - Marketing Plan: Comprehensive marketing strategy and timeline
4. Schedule D - Property Disclosure Statement: Mandatory disclosure of property condition and known issues
5. Appendix 1 - Agent Credentials: Copies of agent's license and professional certifications
6. Appendix 2 - Property Photos: Initial property photographs and image usage rights
7. Appendix 3 - Service Level Agreement: Detailed breakdown of services to be provided and associated timelines
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Legal Services
Financial Services
Property Development
Construction
Property Investment
Commercial Property
Residential Property
Property Insurance
Relevant Teams
Legal
Real Estate
Sales
Business Development
Compliance
Property Management
Marketing
Operations
Finance
Risk Management
Relevant Roles
Real Estate Agent
Real Estate Broker
Property Manager
Legal Counsel
Contract Manager
Real Estate Director
Business Development Manager
Sales Manager
Property Developer
Investment Manager
Compliance Officer
Real Estate Partner
Transaction Coordinator
Marketing Manager
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