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Exclusivity Of Listing For Lease Of Property
AGREEMENT FOR EXCLUSIVITY OF LISTING FOR LEASE OF PROPERTY
This agreement is effective as of [date of agreement], 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.
PART I.
EMPLOYMENT OF BROKER
Considering the services to be rendered by broker, the owner employs broker as [his or her] exclusive agent. The broker will procure tenants for rental units located in the county of [county of units], state of [state of units], and more particularly described as follows: [description of units].
PART II.
COMMISSION
As compensation for broker's efforts, they will receive commission for each tenant procured in the amount of [percent commission for broker]% of each months rent. Any further information concerning commission should be added here [extra information about the commission].
PART III.
TERM
This agreement can be terminated by either party on [days notice for termination] days written notice.
PART IV.
ADVERTISING
The broker is authorized to advertise the rental units however they see fit. The broker may also place [his or her] signs on the premises and remove all other signs.
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.
ARBITRATION OF DISPUTES
All disputes, claims, and questions regarding the rights and obligations of the parties under the terms of this agreement are subject to arbitration. Either party may file a demand in writing with the other party within [days after dispute arises] days after the dispute arises. Arbitration shall be conducted by [terms of arbitration].
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