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 Land In Utah
Category:
State:
Multi-State
Control #:
US-00056DR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
The listing agreement is a document that protects your real estate agent. It ensures they will receive their commission if they find a buyer for your property and gives them exclusive rights to sell your home.
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.
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.
“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 ...
Generally, state laws require certain contracts or agreements to be in writing to protect both buyers and sellers from being taken advantage of, and from fraud. Under most states' laws, the following agreements and contracts are required to be in writing and signed: The sale of land, or a home, or an interest in land.
The listing contract should be in writing for it to be enforceable in a court of law. To prevent misunderstanding and fraud between the parties involved therefore, its essential for the contract to be in writing.
Written Contracts Keep People Accountable A written contract will set expectations and avoid misunderstandings, and it will also keep the parties accountable. A written contract will help you as a small business owner understand what your responsibilities are and keep you accountable to those responsibilities.
Why is a Listing Agreement Important? Legal Protection: The listing agreement serves as a legal document that outlines the obligations and expectations of both the broker and the seller, providing legal protection to both parties.
