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Seller Listing Agreement
"I need a Seller Listing Agreement for a luxury commercial property in Lagos, with an exclusive 6-month listing period starting March 1, 2025, including international marketing provisions and a 5% commission structure."
1. Parties: Identification of the property owner (seller) and the real estate agent/agency, including full legal names, addresses, and registration numbers
2. Background: Context of the agreement, including brief description of the property and the parties' intention to enter into a listing relationship
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Listing Period', 'Commission', 'Exclusive Right to Sell', etc.
4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the seller
5. Property Details: Complete description of the property being listed, including legal description, title information, and current condition
6. Listing Terms: Listing price, listing period, type of listing (exclusive or non-exclusive), and commission structure
7. Agent's Obligations: Detailed responsibilities of the agent including marketing efforts, showing the property, and reporting requirements
8. Seller's Obligations: Seller's responsibilities including property access, disclosure requirements, and cooperation with the agent
9. Commission Terms: Detailed explanation of commission calculation, payment timing, and circumstances under which commission becomes due
10. Term and Termination: Duration of the agreement, renewal provisions, and conditions for termination
11. Representations and Warranties: Statements of fact by both parties regarding their authority, the property's condition, and other material facts
12. Governing Law: Specification that Nigerian law governs the agreement and jurisdiction for disputes
13. Signatures: Execution section with date and signatures of all parties
1. Protection Period: Used when the seller wants to include a period after termination during which the agent would still be entitled to commission for certain buyers
2. Virtual Tours and Digital Marketing: Include when specific digital marketing services will be provided, detailing the scope and requirements
3. Multiple Listing Service: Include when the property will be listed on specific multiple listing services, detailing the terms of such listings
4. International Marketing: Used when the property will be marketed to international buyers, including specific marketing strategies and additional costs
5. Property Management: Include when the agent will provide property management services during the listing period
6. Dual Agency: Include when the agent might represent both seller and buyer, detailing the conditions and disclosures required
7. Force Majeure: Include specific provisions for unforeseen circumstances that might affect the listing agreement
8. Dispute Resolution: Optional detailed procedures for handling disputes through mediation or arbitration before court proceedings
1. Schedule A - Property Description: Detailed property description including boundaries, fixtures, and fittings
2. Schedule B - Marketing Plan: Detailed marketing strategy and activities to be undertaken by the agent
3. Schedule C - Commission Structure: Detailed breakdown of commission rates, including any sliding scales or special circumstances
4. Schedule D - Property Photographs: Official photographs of the property to be used in marketing
5. Schedule E - Property Documents: List of all relevant property documents provided by the seller
6. Appendix 1 - Agent's License: Copy of the agent's current license and professional registrations
7. Appendix 2 - Property Title Documents: Copies of relevant title documents and land use certificates
8. Appendix 3 - Seller's Authority: Documentation proving seller's authority to sell the property
Authors
Real Estate
Property Development
Construction
Legal Services
Property Management
Commercial Property
Residential Property
Retail Property
Industrial Property
Hospitality
Legal
Real Estate
Sales
Business Development
Compliance
Property Management
Operations
Asset Management
Valuations
Contract Administration
Real Estate Agent
Property Manager
Estate Surveyor
Real Estate Broker
Legal Counsel
Property Developer
Sales Director
Business Development Manager
Contract Manager
Compliance Officer
Real Estate Portfolio Manager
Asset Manager
Property Valuation Specialist
Real Estate Operations Manager
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