Listing Agreement Granting a Broker or Realtor the Exclusive Right to Sell Commercial Property or Real Estate
About this form
This Listing Agreement Granting a Broker or Realtor the Exclusive Right to Sell Commercial Property or Real Estate is a legal document that provides a realtor or broker with the sole right to sell the specified commercial property. This agreement also includes warranties from the property owner regarding the marketability of the property title. Unlike other forms, this agreement is specific to granting exclusive rights, ensuring the broker can fully represent the owner in marketing and selling the property.
Key parts of this document
- Right to Sell: Defines the exclusive right granted to the broker to sell the specified property.
- Terms of Sale: Outlines the sales price, title requirements, and the owner's obligations regarding title defects.
- Compensation to Broker: Details the commission structure and conditions under which the broker is paid.
- General Provisions: Addresses cooperation between the owner and broker, authority to negotiate, signage, and legal enforcement.
When to use this document
This form should be used when a property owner wants to engage a broker or realtor to sell their commercial property exclusively. It is suitable for owners looking to formalize their agreement with a real estate professional, ensuring that they receive comprehensive marketing services while providing specific terms of sale and compensation for the broker.
Who can use this document
- Property owners looking to sell commercial real estate.
- Real estate brokers or agents engaged to represent property owners.
- Businesses or investors who want to ensure an exclusive selling agreement with experienced real estate professionals.
Steps to complete this form
- Identify the parties involved: Enter the names of the owner and the broker.
- Specify the property: Provide the details of the commercial property including its location and description.
- Enter the sales price: Fill in the agreed-upon listing price for the property.
- Outline terms of sale: Include any specific conditions or requirements for the sale of the property.
- Sign and date the agreement: Ensure both the owner and broker sign and date the document to make it legally binding.
Does this form need to be notarized?
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Mistakes to watch out for
- Failing to clearly outline the property's description and details.
- Not specifying the commission percentage, which can lead to disputes later.
- Leaving out the effective dates of the agreement.
- Not reviewing local laws that may affect real estate transactions.
Advantages of online completion
- Convenience: Download and fill out the form at your own pace from anywhere.
- Editability: Easily make changes to the details as circumstances evolve.
- Reliability: Templates are drafted by licensed attorneys to ensure legal compliance.
Legal use & context
- This agreement serves as a binding contract between the property owner and the broker.
- Failure to adhere to the agreed terms can result in legal disputes over commissions.
- The form includes necessary provisions to enforce rights and obligations of both parties.
Summary of main points
- The form grants exclusive selling rights to a broker for specified commercial property.
- It defines the compensation structure for the broker and outlines the owner's responsibilities.
- Understanding local laws is essential for successful execution and validity of the agreement.
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FAQ
Exclusive Right-to-Sell Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker, regardless of whether the property is sold through the efforts of the
While most real estate agents choose to sign an Exclusive Right to Sell agreement, you can negotiate a different agreement. However, this may make it harder to find a real estate agent to work with, which could hold up your sale.In most cases, it is best to go with a top real estate agent's recommendation.
Exclusive Right-to-Sell Listing: A contractual agreement under which the listing broker acts as the agent or as the legally recognized non-agency representative of the seller(s), and the seller(s) agrees to pay a commission to the listing broker, regardless of whether the property is sold through the efforts of the
An exclusive-authorization-and-right-to-sell listing gives the broker the greatest assurance that he or she will receive compensation for his or her marketing efforts. And as a result, sellers usually see a quicker and more profitable sale of the property.
An exclusive listing in real estate is a listing that is held exclusively with a real estate agent and is not published on the Multiple Listing Service (MLS). Thus, the realtor is required to market the home to his or her personal sphere of clients, builders, and realtors to find a buyer.
The biggest difference when comparing an exclusive right to sell listing to exclusive agency listing, is whether or not the agent is guaranteed a commission. An exclusive agency listing does not guarantee an agent commission, while an exclusive right to sell listing does guarantee commission when your home sells.
