The Standard Real Estate Agent Contract serves as the foundational document for establishing professional real estate representation in the United States. This contract is essential when engaging a real estate professional for property transactions, whether buying, selling, or leasing. It details the agent's responsibilities, commission structure, exclusivity terms, and duration of representation, while ensuring compliance with federal and state real estate laws. The document protects both parties' interests by clearly defining the scope of services, communication expectations, and termination conditions.
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1. Parties: Identifies the real estate agent/broker and the client
2. Background: Context of the agreement and basic premises
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of services to be provided by the agent
5. Term: Duration of the agreement including start and end dates
6. Commission Structure: Payment terms and commission rates
7. Agent's Obligations: Specific duties and responsibilities of the agent
8. Client's Obligations: Responsibilities and commitments of the client
9. Termination: Conditions and process for ending the agreement
1. Exclusive Rights: Grants exclusive representation rights to the agent for selling/buying specific properties
2. Marketing Plan: Specific marketing strategies and commitments for property promotion
3. Property Management: Additional services related to property management and rental oversight
4. International Transactions: Special provisions for handling international clients and cross-border transactions
1. Schedule A - Property Details: Specific property information for listing agreements
2. Schedule B - Commission Schedule: Detailed breakdown of commission structures and scenarios
3. Schedule C - Marketing Plan: Detailed marketing strategy and timeline
4. Appendix 1 - Required Disclosures: State-mandated real estate disclosures
5. Appendix 2 - Agency Disclosure: Required agency relationship disclosures
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