This form grants to a realtor or broker the sole and exclusive right to list and show the property described in the agreement on one occasion. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Listing Agreement Form With A Self-renewing Clause In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00056DR
Format:
Word;
Rich Text
Instant download
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FAQ
Final answer: The carryover clause allows a broker to collect a commission after the listing contract expires if the property is sold to a buyer initially introduced by the broker during the term of the contract.
Second, in California, as of 2024, you cannot have a listing agreement term for longer than 24 months, and if you essentially had an indefinite listing agreement, this would be unlawful.
Final answer: The carryover clause allows a broker to collect a commission after the listing contract expires if the property is sold to a buyer initially introduced by the broker during the term of the contract.
The exclusivity previously granted to the agent no longer applies, and the seller has the flexibility to explore different representation options. Keep in mind that some Exclusive Right to Sell Agreements may include a clause for automatic renewal or extension if certain conditions are met.
The written listing agreements in real estate must not contain a self-renewing clause. However, they must contain elements like property description and a definite expiration date. It's also acceptable for them to contain a clause requiring the broker to deliver the agreement to the seller within a certain timeframe.
A listing agreement may not have automatic extensions; it must, in fact, have an expiration date. The broker is also required to give a copy of the listing agreement to the seller once it has been signed for their records and reference.
To avoid such predatory practices, California enacted Civil Code 1670.12 and Government Code 27280.6, which took effect January 1, 2024, prohibiting an exclusive listing agreement to last longer than 24 months or to renew such a listing for longer than 12 months.
First off, without a defined expiration date, you didn't have a ratified listing agreement. Second, in California, as of 2024, you cannot have a listing agreement term for longer than 24 months, and if you essentially had an indefinite listing agreement, this would be unlawful.
