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Unimproved Property Listing Agreement Template for United States

An Unimproved Property Listing Agreement is a legally binding contract used in the United States between a property owner and a real estate broker/agent, authorizing the broker to market and sell undeveloped land. The agreement specifies the listing price, commission structure, duration of the listing, and the rights and obligations of both parties. It includes specific provisions relevant to vacant land transactions and must comply with federal and state real estate laws.

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What is a Unimproved Property Listing Agreement?

The Unimproved Property Listing Agreement serves as the foundational document for marketing and selling vacant land in the United States. This agreement is essential when property owners seek professional representation to sell undeveloped property, whether for development, investment, or other purposes. It differs from improved property listings by addressing specific considerations for vacant land, such as zoning, environmental factors, and development potential. The agreement establishes the broker's authority to market the property, sets compensation terms, and outlines the scope of services to be provided. It must comply with both federal regulations and state-specific real estate laws.

What sections should be included in a Unimproved Property Listing Agreement?

1. Parties: Identification of property owner and real estate broker/agent

2. Background: Context of the agreement and basic property information

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the unimproved property including legal description

5. Listing Terms: Price, duration of listing, and commission structure

6. Broker's Obligations: Services to be provided by the broker

7. Owner's Obligations: Property owner's responsibilities and warranties

8. Term and Termination: Duration of agreement and termination provisions

What sections are optional to include in a Unimproved Property Listing Agreement?

1. Protection Period: Post-listing period where broker maintains rights to commission for leads generated during listing period

2. Multiple Listing Service: Terms related to MLS listing and associated requirements

3. Virtual Tours/Marketing: Special marketing provisions and digital promotion strategies

What schedules should be included in a Unimproved Property Listing Agreement?

1. Property Information Schedule: Detailed property specifications, dimensions, and features

2. Marketing Plan: Detailed marketing strategy and activities

3. Commission Schedule: Detailed breakdown of commission structure and payment terms

4. Property Survey: Technical survey of the property including boundaries and topographical information

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

United States

Cost

Free to use

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