The Exclusive Agency Listing agreement serves as a crucial document in U.S. real estate transactions, establishing a specific type of relationship between property owners and real estate professionals. Unlike an exclusive right-to-sell agreement, this contract type provides flexibility for owners while still protecting the broker's interests. The agreement is commonly used when sellers want to maintain the right to sell their property independently while benefiting from professional marketing services. The document must comply with federal regulations like RESPA and state-specific real estate laws, making it essential to adapt the agreement to local jurisdiction requirements. The Exclusive Agency Listing includes detailed provisions about property marketing, commission structures, listing duration, and the specific responsibilities of both parties, while incorporating required state disclosures and agency relationship terms.
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1. Parties: Identification of the property owner (seller) and the real estate brokerage firm
2. Background: Brief context about the property and the intent to sell
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being listed
5. Agency Relationship: Terms of the exclusive agency relationship
6. Listing Period: Duration of the listing agreement
7. List Price: Agreed listing price and pricing terms
8. Commission Structure: Details of broker compensation
9. Broker's Obligations: Services to be provided by the broker
10. Seller's Obligations: Responsibilities and warranties of the seller
11. Termination: Conditions and procedures for ending the agreement
1. Marketing Plan: Specific marketing strategies and commitments - include when detailed marketing arrangements are required
2. Dual Agency: Provisions for potential dual agency situations - include when broker may represent both seller and buyer
3. Virtual Tours: Terms regarding virtual showings and online marketing - include when digital marketing is a significant component
4. Open House Provisions: Terms for conducting open houses - include when open houses are planned
1. Property Details Schedule: Comprehensive property information including fixtures and fittings
2. Marketing Schedule: Detailed marketing plan and timeline
3. Commission Schedule: Detailed breakdown of commission structures and scenarios
4. Required Disclosures: State-mandated property condition disclosures
5. Agency Disclosure Form: State-required agency relationship disclosure document
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