A Real Estate Agent Listing Agreement serves as the foundational document for the professional relationship between property sellers and real estate agents in the United States. This agreement is essential when property owners wish to engage professional representation for selling their property. It typically includes detailed terms about marketing strategies, commission structures, duration of representation, and mutual obligations. The document must adhere to both federal regulations and state-specific real estate laws, which can vary by jurisdiction. It provides legal protection for both parties and clearly defines the scope of the agent's authority to act on behalf of the seller.
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Key Requirements PROMPT example:
Real Estate Agent Listing Agreement
"I need a Real Estate Agent Listing Agreement for my luxury beachfront property in Florida, with special provisions for international marketing and virtual tours, and a commission structure that includes performance bonuses for selling above asking price by March 2025."
1. Parties: Identifies the real estate agent/broker and property owner(s)
2. Background: Brief context about the property and intention to sell
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being listed
5. Listing Price and Terms: Agreed listing price and basic terms of potential sale
6. Agency Relationship: Definition of the relationship between agent and seller
7. Commission Structure: Details of agent compensation and payment terms
8. Duration: Term of the listing agreement including start and end dates
9. Agent's Obligations: Detailed responsibilities of the real estate agent
10. Seller's Obligations: Detailed responsibilities of the property owner
1. Dual Agency Provisions: Required if agent might represent both seller and buyer - applicable in jurisdictions allowing dual agency
2. International Marketing: Specific provisions for marketing property internationally - used for luxury or unique properties with international appeal
3. Virtual Showing Rights: Terms for virtual tours and online marketing - when digital marketing is a significant component
4. Exclusions: List of potential buyers excluded from the agreement - used when seller has pre-existing prospects
1. Property Details Schedule: Detailed property specifications and features
2. Marketing Plan: Detailed marketing strategy and commitments
3. Commission Schedule: Detailed breakdown of commission structures
4. Property Disclosure Statement: Mandatory disclosures about property condition
5. Photography Authorization: Permission for property photography and virtual tours
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