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.
The Virgin Islands One Time Listing and Showing Agreement is a legal document used in the real estate industry to outline the terms and conditions between a property owner and a real estate agent for the purpose of listing and showing the property. This agreement is specific to the Virgin Islands region and is designed to protect the interests of both parties involved. The One Time Listing and Showing Agreement allows the property owner, also known as the principal, to grant the real estate agent, known as the broker, the exclusive right to market and show their property for a specific period of time. This exclusivity ensures that the broker is the only agent tasked with promoting the property and finding potential buyers during this timeframe. The agreement outlines the responsibilities and duties of both parties. The property owner is required to provide accurate information about the property, including its description, condition, and any relevant documents or disclosures. They also agree to cooperate with the broker throughout the listing and showing process, allowing access to the property for showings and inspections. On the other hand, the broker agrees to use their best efforts to effectively market the property, utilizing their network, advertising resources, and industry knowledge to attract potential buyers. They may also engage in other activities such as conducting open houses, arranging showings, and providing regular updates to the property owner. The agreement may also include provisions related to compensation and commissions. It typically states the agreed-upon commission rate that the broker is entitled to receive upon the successful sale of the property. This commission is usually a percentage of the final sale price. The agreement may also outline any additional fees or expenses that the property owner may be responsible for, such as marketing costs or listing fees. Different types of the Virgin Islands One Time Listing and Showing Agreements may vary based on factors such as the duration of the agreement, the listing price, or any specific terms negotiated between the parties. Some variations may include limited-time listings, where the agreement is valid for a short period, or exclusive agency agreements, where the owner retains the right to sell the property themselves, without paying a commission to the broker if the buyer is found independently. In conclusion, the Virgin Islands One Time Listing and Showing Agreement is a legally binding contract used in the real estate industry to establish the relationship and expectations between property owners and real estate agents. It provides a framework for effectively marketing and showing the property, protecting the interests of both parties involved.
