The Lease Listing Agreement serves as the foundational document establishing a professional relationship between property owners and real estate professionals for the purpose of leasing property. This contract type is essential in the United States real estate market, providing clear guidelines for marketing rental properties, defining compensation structures, and establishing service expectations. The agreement typically includes property specifications, listing duration, commission terms, and marketing strategies while ensuring compliance with both federal and state-specific real estate regulations. It's particularly important for protecting both parties' interests and establishing clear parameters for the listing relationship.
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1. Parties: Identification of property owner and listing broker/agent
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property to be leased
5. Listing Terms: Duration of listing, pricing, and marketing details
6. Commission Structure: Broker compensation terms and conditions
7. Rights and Obligations: Responsibilities of both parties
8. Termination: Conditions for ending the agreement
1. Multiple Listing Service: Terms for MLS listing, if applicable
2. Marketing Budget: Specific marketing commitments and cost sharing
3. Virtual Tours: Terms for virtual showings and online marketing
1. Property Photos: Approved photographs of the property
2. Marketing Plan: Detailed marketing strategy and timeline
3. Property Condition Report: Current condition of the property
4. Service Level Agreement: Specific performance metrics and service standards
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