Listing Agreement Document Format In Utah
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A listing agreement is “a legally binding contract that creates an agency relationship authorizing a broker to serve as the agent for a principal in a real estate transaction.” In other words, a listing agreement is an employment contract between a client and a broker that spells out what the broker is responsible for ...
“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 ...
A listing agreement is an example of an agency relationship that is created by express agency. In this context, express agency arises when the principal explicitly states their intention to create an agency relationship with the agent through a written or verbal agreement.
Exclusive right to sell listing agreement An exclusive right to sell listing is the most widely-used listing agreement. Under this agreement, the broker has the exclusive right to market the property for a specified period of time.
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.
An exclusive right-to-sell listing is the most commonly used contract. With this type of listing agreement, one broker is appointed the sole seller's agent and has exclusive authorization to represent the property.
Listing agreements usually cover a duration of between three and six months. The real estate agent wants to make sure they have enough time to perform the necessary work to find the right buyer and sell your home.
Similarly, real estate agents may use electronic listing agreement forms to create an enforceable agency relationship with a client, as though it were a printed document manually signed by the client.
A listing agreement is between the parties that own a property and the agents or brokers who will find a buyer for it. Typically, a real estate listing agreement involves the property owner and a real estate agent. The property owner, or seller, grants the agent the right to market and sell the property.
Though notarization is not required, it may still be a good idea to have a notary present in order to verify the identities of all signers.
