Real Estate Agent Agreement - Template, Sample Form Pro · US-law
✓ Valid in United States · drafted to comply with local law
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REAL ESTATE AGENT LISTING AGREEMENT
State of ________
BACKGROUND
A. This Real Estate Agent Listing Agreement (this "Agreement") is made and entered into effective as of ________ (the "Effective Date"), by and between the following licensed real estate brokerage/agent (the "Agent"):
________, holding real estate license no. ________,
of
________
and the following recipient of real estate agent services (the "Client"):
________
of
________
Agent and Client are collectively referred to herein as the "Parties" and individually as a "Party."
B. Agent is a duly licensed real estate broker/agent in good standing under the laws of the State of ________, with a background in marketing, advertising, negotiating, and selling real estate, and is willing to provide services to Client based on this background.
C. Client is the lawful owner of certain real property and the improvements thereon, more particularly described as follows (the "Real Property"):
Street address: ________
Legal description / parcel (APN): ________
In consideration of the mutual promises and covenants herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
§ I. GRANT OF RIGHTS.
1. Client hereby grants to Agent the right to market and sell the Real Property described above and hereby appoints Agent as Client's agent for such purpose, subject to the terms and conditions set forth in this Agreement.
2. Client, promptly after Agent's request, shall deliver to Agent complete and accurate copies of any records and documentation relating to the Real Property in the possession or control of Client, including title documents, surveys, prior appraisals, and disclosures.
3. Client represents and warrants that Client holds marketable title to the Real Property and has full authority to enter into this Agreement and to authorize the sale contemplated herein.
§ II. DESCRIPTION OF SERVICES.
4. Client shall refer to Agent all offers and inquiries, including those from outside brokers, principals, or others, with respect to the Real Property, and shall conduct through Agent all negotiations with respect to the sale of the Real Property.
5. Agent shall diligently investigate and develop such offers and inquiries and shall canvass, solicit, and otherwise employ its best efforts to bring about the sale of the Real Property, and to that end Agent is authorized to enlist the services of other licensed real estate brokers.
6. Agent shall report to Client any price that may be offered for the Real Property for the consideration and review of Client.
7. Agent shall report to Client all bona fide offers of no lower than $________ (________), unless the Parties agree in writing to lower the minimum sale price for the Real Property. The agreed list price for the Real Property is $________.
8. Beginning on ________, Agent will provide the above services, including the following services (collectively, the "Services"), in connection with the sale of the Real Property:
________
§ III. PERFORMANCE OF SERVICES.
9. The manner in which the Services are to be performed and the specific hours to be worked by Agent shall be determined by Agent, subject to compliance with applicable law and the standards of professional conduct governing licensed real estate brokers.
10. Client will rely on Agent to work as many hours as may be reasonably necessary to fulfill Agent's obligations under this Agreement.
§ IV. PAYMENT.
11. Agent's fee shall be calculated as a commission of ________% of the gross sale price of any sale or sales of the Real Property made through Agent and consummated as a result of the Services, such commission to be deducted from the proceeds of sale at closing.
12. Client reserves the right to sell the Real Property to anyone with whom Client is currently negotiating, as identified in writing on a schedule attached hereto, and in the event the Real Property is sold as a result of such negotiations, Agent shall not be entitled to any commission upon such sale.
13. If, after the termination of this Agreement, Client shall sell the Real Property to a party or parties who, during the term of this Agreement, were introduced to or shown the Real Property by Agent for the purpose of interesting them as purchasers, Agent shall be entitled to its commission upon such sale, provided such sale occurs within ________ days following termination (the "Protection Period").
14. Nothing in this Agreement shall be deemed to require Client to accept any offer to purchase the Real Property, to sell the Real Property, or to keep the Real Property for sale during the term of this Agreement, and Client may withdraw the Real Property at any time.
15. If Client is presented with a bona fide offer to purchase at or above the agreed list price approved by Client and Client fails to accept such offer, Agent shall be entitled to be paid the full commission it would have earned had the Real Property been sold at the offered price.
16. If Agent neither successfully sells the Real Property nor introduces Client to a buyer who then purchases the Real Property before the termination of this Agreement (subject to § IV.13), Agent shall not be entitled to collect any commission on the sale of the Real Property.
17. Upon determination of the fees due, Agent shall issue an invoice to Client, and payment shall be due within thirty (30) days of the date of the invoice or at closing, whichever occurs first.
18. Acceptable forms of payment include the following:
________
§ V. LATE PAYMENTS.
19. For any fee payment that is not paid within thirty (30) days of its due date, Client shall pay a late fee of $________ (________), together with interest at the rate of ________% per annum or the maximum rate permitted by applicable law, whichever is less.
§ VI. EXPENSE REIMBURSEMENT.
20. Agent shall pay all out-of-pocket expenses incurred in connection with the Services and shall not be entitled to reimbursement from Client, except as otherwise agreed in writing.
§ VII. TERM.
21. This Agreement shall commence on the Effective Date and shall terminate automatically on ________, unless earlier terminated in accordance with the terms hereof.
§ VIII. RELATIONSHIP OF THE PARTIES.
22. It is understood by the Parties that Agent is an independent contractor with respect to Client and not an employee of Client. Client will not provide fringe benefits, including health insurance benefits, paid vacation, or any other employee benefit, for the benefit of Agent or its personnel. Agent shall be solely responsible for all taxes, withholdings, and other obligations arising from compensation paid hereunder.
§ IX. EMPLOYEES.
23. Agent's employees, if any, who perform services for Client under this Agreement shall also be bound by the applicable provisions of this Agreement.
24. At the request of Client, Agent shall provide adequate evidence that such persons are Agent's employees.
§ X. EXCLUSIVITY.
25. For the term of this Agreement, Agent shall have the exclusive right to market and sell the Real Property as described in this Agreement.
§ XI. FAIR HOUSING AND COMPLIANCE.
26. The Parties shall comply with all applicable federal, state, and local laws governing the marketing and sale of real property, including without limitation the federal Fair Housing Act (42 U.S.C. § 3601 et seq.), the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) where applicable, and all applicable agency disclosure and licensing requirements of the State of ________. The Real Property shall be offered without regard to race, color, religion, sex, disability, familial status, national origin, or any other class protected by law.
§ XII. CONFIDENTIALITY.
27. Agent agrees for itself, its successors, heirs, and assigns to refrain from disclosing to any third party any information relating to the Real Property that is valuable, special, or unique and that needs to be protected from improper disclosure, except as necessary to perform the Services.
28. Agent and any of Agent's employees, agents, or representatives will not at any time or in any manner, either directly or indirectly, use for the personal benefit of Agent, or divulge, disclose, or communicate in any manner any information that is proprietary to Client. Agent and its personnel will protect such information and treat it as strictly confidential.
29. This provision shall survive and continue to be effective after the termination of this Agreement.
30. A violation of this provision shall constitute a material breach of this Agreement.
§ XIII. RETURN OF RECORDS.
31. Upon termination of this Agreement, Agent will return to Client all records, notes, documentation, equipment, and other items that were used, created, or controlled by Client during the term of this Agreement.
§ XIV. INDEMNIFICATION.
§ XV. DEFAULT.
33. The occurrence of any of the following shall constitute a material default under this Agreement:
a. The failure to make a required payment when due.
b. The insolvency or bankruptcy of either Party.
c. The subjection of any of either Party's property to any levy, seizure, general assignment for the benefit of creditors, application, or sale for or by any creditor or governmental agency.
d. The failure to make available or deliver the Services in the time and manner provided for in this Agreement.
§ XVI. REMEDIES.
34. In addition to any and all other rights a Party may have available according to law, if a Party defaults by failing to substantially perform any provision, term, or condition of this Agreement (including without limitation the failure to make a monetary payment when due), the other Party may terminate this Agreement by providing written notice to the defaulting Party.
35. This notice shall describe with sufficient detail the nature of the default. The Party receiving such notice shall have thirty (30) days from the effective date of such notice to cure the default(s).
36. Unless waived in writing by the Party providing notice, the failure to cure the default(s) within such time period shall result in the automatic termination of this Agreement.
§ XVII. ENTIRE AGREEMENT.
§ XVIII. TITLES.
38. The titles in this Agreement are for purposes of convenience only, are not intended to be part of this Agreement, and shall not be deemed to modify, explain, enlarge, or restrict any of its provisions.
§ XIX. SEVERABILITY.
39. If any provision of this Agreement is held to be invalid or unenforceable for any reason, the remaining provisions will continue to be valid and enforceable.
40. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision will be deemed to be written, construed, and enforced as so limited.
§ XX. AMENDMENT.
41. This Agreement may be modified or amended only in a writing signed by both Parties.
§ XXI. GOVERNING LAW.
42. This Agreement shall be governed by and construed in accordance with the laws of the State of ________, without regard to its conflict-of-laws principles. The Parties consent to the exclusive jurisdiction and venue of the state and federal courts located in ________ for the resolution of any dispute arising under this Agreement.
§ XXII. NOTICE.
43. Any notice or communication required or permitted under this Agreement shall be sufficiently given if delivered in person or by certified mail, return receipt requested, to the address set forth in the opening provisions of this Agreement or to such other address as one Party may have furnished to the other in writing.
§ XXIII. WAIVER OF CONTRACTUAL RIGHTS.
44. The failure of either Party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that Party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
§ XXIV. ASSIGNMENT.
45. Neither Party may assign or transfer this Agreement, in whole or in part, without the prior written consent of the other Party. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.
EXECUTION:
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date first written above.
_________________________________
________, Client
Date: ________
_________________________________
________, Representative of ________, Agent
Date: ________
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