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Agreement For Exclusivity In Listing Of Property
AGREEMENT FOR EXCLUSIVITY IN LISTING OF PROPERTY
This exclusive listing agreement is effective as of [date effective], by and between [name of broker], of [address of broker] hereinafter referred to as broker, and [name of owner], of [address of owner] hereinafter referred to as owner.
In consideration of services performed by broker, owner hereby employs broker as an exclusive agent to sell property known as [address of property] and more specifically described as [description of property], subject to the following terms and conditions: [terms and conditions].
PART I.
OBLIGATIONS OF BROKER
The broker shall to the best of their abilities find a buyer for the above property. The broker will include the property with other listings maintained by them. The broker must also place a sign on the premises and notify the owner promptly of prospective buyers.
Add any other obligations that exist for the broker [obligations for the broker].
PART II.
BROKERS COMMISSION
The broker will receive a commission of [Percent commission for the broker of initial amount]% of the first $ [initial amount] of the selling price and [Percent commission for the broker after initial amount]% of the selling price in excess of that amount if: [Conditions for commission].
The remainder of this section should list and explain any further limits guidelines or regulations regarding commission that are exclusive to this agreement [other limitations]
PART III.
TERM OF LISTING
1. This agreement shall commence on the effective date indicated above, and shall terminate at midnight, the last hour of [date of termination].
2. This listing may be terminated by either party at any time after [minimum days of agreement] days following the effective date indicated above by [days notice for termination] days written notice.
PART IV.
OWNERS COVENANT TO SELL
The owner hereby agrees to furnish a certificate of title or abstract from a reputable and reliable abstract company, and furnish a deed exhibiting a sufficient title to the property.
PART V.
GOVERNING LAW
It is agreed that this agreement shall be governed and enforced in accordance with the laws of the State of [state of jurisdiction].
PART VI.
ENTIRE AGREEMENT
This agreement is the entire agreement between the parties any prior understanding or representation of this agreement shall not be binding upon either party.
PART VII.
NOTICES
Any notice concerning this agreement shall be in writing and sent by certified or registered mail to the respective address of each party.
SECTION SEVENTEEN
RECEIPT OF COPY OF AGREEMENT
In witness whereof, each party to this agreement has caused it to be executed at [location of execution] on [date of execution].
Signature Date
Signature Date