The Broker Listing Agreement serves as the foundational document in a real estate listing relationship. This contract type is essential when property owners wish to engage professional representation for selling their property in the United States market. The agreement details the broker's authority to market the property, establishes the listing price, commission structure, and marketing strategy, while ensuring compliance with state and federal real estate regulations. It typically includes specific performance expectations, property details, and the duration of the listing relationship, protecting both the broker's interests and the property owner's rights.
Broker Listing Agreement for the United States
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Key Requirements PROMPT example:
Broker Listing Agreement
"I need a Broker Listing Agreement for my luxury beachfront property in Miami, with specific provisions for international marketing and a minimum listing price of $5.2M, to be effective from March 2025 for a 12-month period."
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1. Parties: Identification of the property owner and the broker
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Details of services the broker will provide
5. Term: Duration of the listing agreement
6. Commission: Fee structure and payment terms
7. Property Description: Detailed description of the property being listed
8. Rights and Obligations: Specific rights and obligations of both parties
9. Termination: Conditions and processes for terminating the agreement
10. Governing Law: Applicable law and jurisdiction
1. Dual Agency Provisions: Required when broker may represent both seller and buyer in jurisdictions allowing dual agency
2. Marketing Plan: Specific marketing strategies to be employed for premium listing agreements
3. International Marketing: Provisions for marketing property internationally for luxury or unique properties
4. Virtual Tours and Digital Marketing: Specific provisions for digital marketing strategies and virtual showings
1. Schedule A - Property Details: Detailed information about the property including measurements and features
2. Schedule B - Commission Structure: Detailed breakdown of commission structure and scenarios
3. Schedule C - Marketing Plan: Detailed marketing strategy and timeline
4. Appendix 1 - Agency Disclosure Form: State-mandated disclosure of agency relationships
5. Appendix 2 - Property Condition Disclosure: Detailed disclosure of known property conditions and issues
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