Virgin Islands One Time Listing and Showing Agreement

State:
Multi-State
Control #:
US-00056DR
Format:
Word; 
Rich Text
Instant download

Description

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.

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FAQ

The elements that make up a listing agreement. The time period in which the property will be listed for sale. The listing price of the property. The type of listing agreement being entered into. The terms of commission, or how the agent will be paid once the property is sold.

In most cases, a property is listed as under contract once a buyer has made an offer and the seller has accepted. While that's a big step, it doesn't mean the deal is done quite yet. So if you see a house you love that's under contract, don't give up quite yet.

A safety clause is found in most listing agreements. Under this type of provision, the broker is entitled to a commission if the seller sells the property after the listing term expires to any person the broker negotiated with during the listing term.

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.

The listing agreement also specifies the listing price, broker's duties, seller's duties, broker's compensation, terms for mediation, an automatic termination date, and any additional terms and conditions.

Canceling a listing agreement If a seller decides to cancel a listing agreement such as an Exclusive Right of Sale Listing Agreement before its termination date, it is up to the broker to let the seller out of the agreement. There is no unilateral right to terminate the Exclusive Right of Sale Listing Agreement.

In most cases, a property is listed as under contract once a buyer has made an offer and the seller has accepted. While that's a big step, it doesn't mean the deal is done quite yet. So if you see a house you love that's under contract, don't give up quite yet.

Active Under Contract is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed. This term is primarily used in the State of California.

It allows the sellers the option of asking the buyers to let the sellers rent the home after the sale until the sellers can move into their new place. This type of possession is usually negotiable and caution should be exercised anytime the right of possession does not coincide with closing. BACK TO GLOSSARY.

When a real estate contract is listed as pending, it means that the contract has been accepted, but the deal hasn't yet been closed.

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Virgin Islands One Time Listing and Showing Agreement