What is a listing agreement in which owner retains the right to sell property without paying a commission to the listing agent?

An exclusive listing is a type of real estate listing agreement in which a single broker is appointed as the seller's sole agent. In an exclusive agency listing, the seller retains the right to sell the property, with no obligation to the broker.

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Agreements - Agreement Forms
Multi-State
One Time Listing and Showing Agreement

Listing Agreement Document For Unimproved Property In Pima

Category:

Real Estate - Listing Agreements

State:

Multi-State

County:

Pima

Control #:

US-00056DR

Format:

Instant download

Description

The Listing agreement document for unimproved property in Pima is a legally binding contract that facilitates the sale of property by outlining the agreement between the seller and the realtor. Key features include the identification of the property, the seller's agreement to allow a designated realtor to show the property, and the professional fee structure based on either a flat fee or a percentage of the sales price. Users must fill in pertinent details such as the property address, legal description, seller and buyer names, and the fee amount, and they must ensure all parties acknowledge their agency relationship. This document serves various audiences, including attorneys who may provide legal advice on the agreement, partners and owners who are directly involved in the property sale, associates who assist in the transaction process, paralegals who prepare and manage documentation, and legal assistants who may handle communication or form submissions. It is crucial for users to fully understand the terms of this agreement, as it lays the foundation for any property transaction in Pima.

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FAQ

“Listing agreement” means a written contract between a seller of real property or a business opportunity and a real estate broker by which the broker has been authorized to sell the real property or find or obtain a buyer, including rendering other services for which a real estate license is required to the seller ...

An exclusive listing is a type of real estate listing agreement in which a single broker is appointed as the seller's sole agent. In an exclusive agency listing, the seller retains the right to sell the property, with no obligation to the broker.

Explanation: A written listing agreement between a seller and a broker is an example of a bilateral contract. A bilateral contract is a type of contract where both parties make promises to each other. In this case, the seller promises to sell the property and the broker promises to find a buyer.

The purpose of a real estate listing agreement is to establish a contractual relationship between a property owner (seller) and a real estate broker. It authorizes the broker to act on the seller's behalf to sell the property under specified terms and conditions.

"Listing agreement" means a written contract between a seller of real property or a business opportunity and a real estate broker by which the broker has been authorized to sell the real property or find or obtain a buyer, including rendering other services for which a real estate license is required to the seller ...

Open listing agreement An open listing is a non-exclusive contract. This type of listing gives the seller or buyer the right to engage any number of brokers as agents. With an open listing, all contracted brokers can market the property or search for property simultaneously.

The three types of real estate listing agreements are open listing, exclusive agency listing, and exclusive right-to-sell listing.

How to Amend a Listing Agreement (3 steps) Discuss the Amendment. The broker and owner should meet and discuss the changes to the listing agreement. Write the Amendment. Once a verbal agreement is made, the amendment should be written. Sign and Attach to Listing Agreement.

Multiple Listing Service (MLS): What Is It An MLS is a powerful tool to further cooperative agreements between brokers for the sale of their listings and provide information necessary to permit such cooperation.