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 For Unimproved Property In North Carolina
Category:
State:
Multi-State
Control #:
US-00056DR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
The three types of real estate listing agreements are open listing, exclusive agency listing, and exclusive right-to-sell listing.
Open listing: Definition An open listing enables multiple real estate agents to try to sell your home. This setup gives the seller the ability to work with multiple agents at once. This differs from an exclusive listing, in which the seller works exclusively with one listing agent to find a buyer.
Some property owners may lean toward an open listing because it can sell a property faster. However, it's typically not favored by listing agents because it increases competition and can lead to shared commission costs. Some brokerages may not allow this type of listing agreement.
In an open listing, the person who takes the biggest risk is the seller. This is because in an open listing, the seller is not working exclusively with one agent, and therefore, has to rely on multiple agents to sell their property.
As a buyer, you have the right to terminate for any or no reason prior to the expiration of the due diligence period. After the expiration of the due diligence period, your right to terminate is limited to any special provision provided in the contract.
As a general rule, a contract is binding as soon as you sign it, and you do not have the right to cancel the contract. However, in some instances, North Carolina law, and sometimes federal law, gives you the right to cancel certain transactions even after you have signed a contract or agreement.
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INTRODUCTION: These guidelines are provided to assist an agent who is completing the Exclusive Right to Sell Listing. Advice from an NC attorney should be obtained concerning the proper party(ies) prior to completing this Agreement.NOTE: This contract is intended for unimproved real property that Buyer will purchase only for personal use and does not have immediate plans to subdivide. Use the full legal names of the buyer and seller.
