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Exclusive Brokerage Listing Sale Agreement
(Note: A standard agreement for an exclusive listing for the sale of realty with a licensed broker.
AGREEMENT made on [Date] by and between [Name] of [Address], hereinafter referred to as "Owner", and [Name] of [Address], hereinafter referred to as Broker, do hereby agree as follows:
In consideration for the services performed to date and to be performed, herewith appoints Broker as the exclusive agent for the sale of the following described real estate, on the terms and conditions set forth below, the following real estate property:
[Reference to attached exhibit marked "A", inclusive of the surveyor's description of the realty property].
Broker agrees to diligently and in accordance with all applicable regulations and laws to seek to find a buyer for the property. This exclusive listing shall expire [--] days after commencement.
The minimum selling price of the property shall be: [$-------].
Upon the following terms:
Broker may place a sign during the term of this listing on the property stating that it is the broker herein, and Owner agrees to allow the sign to be kept during the term of the listing and to allow Broker access to the same for maintenance. During a period when a closing is pending, the Broker may continue to place a sign indicating the same.
Owner agrees to pay a commission of [--%] percent of the sales price, if;
(a) you procure a buyer who is ready, willing and able to purchase the premises upon the terms stated above;
(b) you procure a buyer to whom Owner in fact sells or trade the property;
(c) during the terms of the listing, the property is sold through a buyer procured by others. A commission as provided shall be due if Broker procures a buyer that purchases the property on other terms acceptable to the Owner.
If the property is sold or otherwise conveyed to a prospect first submitted by Broker within 4 months of the expiration of the listing period, the commission provided for herein shall be due and payable.
Should a purchaser procured by Broker default, and if any deposit, escrow or earnest money is forfeited or received by Owner shall pay [--%] percent of the same to the Broker as compensation, but in no event, an amount in excess of the commission earned on the transaction had it closed.
Owner represents and warrants that it has disclosed all defects in the property to the Broker and Broker acknowledges an opportunity to fully inspect the premises.
In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.
This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
Neither this agreement nor any right or interest thereunder shall be assigned in any respect whatsoever.
This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
Applicable Law. This Agreement shall be governed by the laws of the State of [State].
Time of The Essence. Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]