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Listing Termination Agreement for the United States

Listing Termination Agreement Template for United States

A Listing Termination Agreement is a legal document used in the United States to formally end a real estate listing agreement between a property owner and a real estate agent or broker. This document establishes the terms of termination, addresses any outstanding commission issues, and provides mutual release of obligations. It ensures compliance with state-specific real estate laws and protects both parties' interests in the termination process.

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What is a Listing Termination Agreement?

The Listing Termination Agreement serves as a crucial document in U.S. real estate transactions when parties need to end their listing relationship before its natural expiration or when circumstances require early termination. This agreement is essential when either the property owner or the real estate agent wishes to terminate their professional relationship before a sale occurs. The document typically includes details about the original listing agreement, reasons for termination, any outstanding obligations, commission provisions, and protection period terms. It's particularly important to ensure the agreement complies with state-specific real estate regulations and provides clear documentation of the termination for all parties involved.

What sections should be included in a Listing Termination Agreement?

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

2. Background: Reference to original listing agreement and reason for termination

3. Definitions: Key terms used in the agreement

4. Termination Statement: Clear statement of the parties' agreement to terminate the listing agreement

5. Effective Date: Date when the termination becomes effective

6. Mutual Release: Release of obligations and liabilities between parties

7. Signatures: Execution by all parties

What sections are optional to include in a Listing Termination Agreement?

1. Commission Provisions: Details about any commission arrangements or protection period

2. Property Description: Details of the property that was listed

3. Survival Clauses: Provisions that survive termination

4. Confidentiality: Requirements for maintaining confidentiality

What schedules should be included in a Listing Termination Agreement?

1. Original Listing Agreement: Copy of the original listing agreement being terminated

2. Property Details: Detailed description of the property or properties involved

3. Pending Transactions Schedule: List of any pending transactions or interested parties during protection period

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Cost

Free to use
Clauses




















Industries

State-Specific Real Estate Laws: Individual state laws and regulations governing real estate transactions, including specific requirements for contract termination and state real estate commission rules

Federal Laws: Key federal regulations including Fair Housing Act, Real Estate Settlement Procedures Act (RESPA), and Truth in Lending Act that impact real estate transactions

Professional Regulations: Industry-specific rules including NAR Code of Ethics, State Real Estate Board requirements, and local real estate board regulations

Contract Law Principles: Fundamental contract law elements including state-specific contract termination rules, consideration requirements, and mutual release provisions

Documentation Requirements: State-specific documentation needs, record-keeping obligations, and formal notice requirements for listing termination

Commission and Compensation: Rules regarding earned commissions, commission disputes, and protection period provisions in listing termination scenarios

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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