Fillable Form Real Estate Listing Agreement

What is a Real Estate Listing Agreement form?

A Real Estate Listing Agreement form is a legally binding document forming a broker-seller relationship to sell a property. It is a contract that property owners or sellers use to authorize a real estate broker or agency to find a buyer or sell their property.

How to fill out a Real Estate Listing Agreement form?

I. Parties

Made on

Enter the date when the Real Estate Listing Agreement was made.

Seller

Enter the seller's name.

Address of

Enter the seller's mailing address.

City of

Enter the seller's city address.

State of

Enter the seller's state.

Agency

Enter the broker's name.

Of

Enter the name of the broker's agency.

Mailing address of

Enter the broker's mailing address.

City of

Enter the broker's city address.

State of

Enter the broker's state.

II. Real Property

Street address of

Enter the street address of the real property.

a.) Legal Description

Tax Map/Lot

Enter the tax map and lot number of the real property.

Deed Book/Page

Enter the deed book and page number of the real property.

Other

Enter other legal descriptions of the real property.

b.) Fixtures

Enter the fixtures not included on the real property.

Fixtures are the seller's personal properties attached to the real property, such as toilets and appliances.

c.) Personal Property

Enter the personal properties included in the sale of the real property.

III. Rights to Sell

Exclusive Right-to-Sell

Mark the box if the seller grants the agency the exclusive right to sell.

An Exclusive Right-to-Sell Listing is an agreement stating that the seller appoints the agency as the selling agent of the real property. Also, the agency will get a commission on whether or not the real property will be sold directly or indirectly through them.

Exclusive Agency

Mark the box if the seller appoints the agency as his or her exclusive agent.

An Exclusive Agency Listing is an agreement stating that the seller recognizes the agency as the sole broker of the real property while reserving the right to sell the property independently. This type of agreement does not guarantee the agency a commission.

Open Listing

Mark the box if the seller prefers an Open Listing agreement.

An Open Listing is a non-exclusive agreement between the seller and the agency. It means that the seller may choose to sell the real property independently or appoint real estate brokers other than the agency.

IV. Purchase Price

Enter the purchase price of the real and personal property of the seller in words and figures.

V. Period of Agreement

Enter the effective date of the Real Estate Listing Agreement.

Enter the listing period or the expiration date of the Real Estate Listing Agreement.

a.) Listing Period Extension

Enter the extension period of the Real Estate Listing Agreement for the unpaid commission.

VI. Commission

Percentage (%) Commission

Mark the box if the agency will be receiving a percentage of the sales price as a commission. Then, enter the percentage of the commission in words and figures.

Fixed Payment Commission

Mark the box if the agency will be receiving a fixed payment commission. Then, enter the amount in words and figures.

a.) Leasing

Enter the agency's commission on the lease or rental fee in words and figures.

b.) Deed Type

Enter the deed type the seller will use to convey the title of the real property.

c.) Ready, Willing, and Able Buyer

This term states that the seller is obligated to pay the agency a commission for finding a ready, willing, and able buyer for the real property. The seller must pay the agency even if the transaction with the buyer was not completed.

d.) Litigation

This term states that the seller is obligated to pay all agency-incurred expenses for lawsuits and attorney fees in events of agreement disputes.

VII. Cooperation with Other Agents and Agencies

Enter the percentage of the commission offered to the licensee in words and figures.

This term states that the seller allows the agency to cooperate with other agents or agencies in marketing the real property. If the licensee or other agencies found a sure buyer for the real property, they are entitled to a commission.

VIII. Disclosed Dual Agency

A Disclosed Dual Agency is a type of agreement where the same agency represents both the buyer and the seller. This term comprises the agency's limitations to facilitate both parties. The agency is expected to secure each party's entrusted confidential information and give equal management to both parties.

ALLOW Disclosed Dual Agency

Mark the box if the seller allows a Disclosed Dual Agency.

NOT ALLOW Disclosed Dual Agency

Mark the box if the seller does not allow a Disclosed Dual Agency.

IX. Marketing the Property

For the initials required below, use the first letters of your first and last name.

Advertise the Property.

Enter initials if the seller permits the agency to advertise the property.

To use the Property's street address when advertising the Property.

Enter initials if the seller permits the agency to use the property's street address when advertising the property.

Allow third (3rd) party websites to create estimated market values of the Property.

Enter initials if the seller permits the agency to allow third-party websites to create estimated market values of the property.

Allow the Agency to disclose the existence of other offers on the Property.

Enter initials if the seller permits the agency to disclose the existence of other offers on the property.

Publish any and all Property information electronically or in print.

Enter initials if the seller permits the agency to publish any or all property electronically or in print.

Place a lockbox or key box on the Property.

Enter initials if the seller permits the agency to place a lockbox or key box on the property. If so, the seller agrees that the agency and other licensees shall not be held liable for any loss or damage to the property.

Authorize a "For Sale" Sign on the Property.

Enter an initial if the seller permits the agency to put a "For Sale" sign on the property.

Photographic Services.

Enter initials if the seller permits the agency to take pictures and videos of the interior and exterior of the property to be published for commercial purposes. If so, the seller shall waive the agency from any responsibility or liability regarding the photos and videos of the property.

X. Agency Disclosure

This term suggests that the seller and the buyer must be informed about the agent's role in the transaction.

XI. Non-Refundable Payments

This term states that the seller who received a partial and non-refundable payment from a buyer who backed out from the sale must give the agency half of the said payment along with the agreed commission.

XII. Fair Housing

Fair Housing Act is a federal law that prohibits discrimination in purchasing, selling, renting, and financing housing properties. This term states that the seller and the agency must present the real property to all buyers regardless of sex, race, religion, nationality, complexion, and other prohibited factors.

XIII. Ownership

This term states that the sole owner of the real property on sale is the seller.

XIV. Multiple Listing Service (MLS)

A Multiple Listing Service (MLS) is a database founded by real estate brokers to publish data about the properties on sale. This term state that the seller permits the agency to publish details about the transaction on MLS and other websites to market the real property. Otherwise, the seller needs to attach an addendum provided by the agency to the Real Estate Listing Agreement to prohibit the action.

XV. Seller Acknowledgments

This term states that the seller acknowledges his or her responsibilities in selling the property. It includes the assurance that the seller has complete authority on the property, has reviewed the terms of the Real Estate Listing Agreement, and all information provided is accurate.

XVI. Broker's Duties

This term states that the agency must perform duties and responsibilities in the best interests of the seller.

XVII. Seller's Duties

This term suggests that the seller must make a reasonable effort to assist the agency regarding the use of the property. It includes the property's testing, inspections, open houses, showings, and other requests that require the seller's assistance.

XVIII. Legal Signature

This term states that both parties may execute and deliver the Real Estate Agreement form by sending a facsimile or electronic signature.

XIX. Indemnification

This term states that the seller agrees to indemnify the agency from all claims and disputes due to false accusations.

XX. Earnest Money

Earnest money refers to the buyer's partial payment for the real property. It represents the buyer's interest in the sale. This term states that the seller authorizes the agency to handle earnest money and deposit it to an escrow account.

XXI. Property Disclosure Statement

A Real Estate Disclosure Agreement is a document used to disclose information about the seller's property, including its potential flaws and issues, to inform the buyer. This term suggests that the seller must provide factual information on the Real Estate Disclosure Agreement regardless of its impact on the sale. The seller must permit the agency to disclose it to the buyer.

XXII. Lead-Based Paint

Properties built before January 1, 1978, possibly contain harmful and poisonous lead-based paint. To assure the buyer that the real property is safe from lead poisoning, the seller must provide an EPA-approved lead hazard information pamphlet declaring the absence of the lead-based hazards on the property. The seller must also conduct a 10-day inspection on the property to detect lead-based paint if it was built before January 1, 1978.

XXIII. Insurance

This term suggests that while the property is still on sale, the seller must maintain its hazard or other insurance.

XXIV. Other Clients

This term states that the seller recognizes that the agency may entertain other clients who have similar properties as him or her. However, the agency must be fair and not favor any client's property over the seller's property.

XXV. Binding Effect

This term states that the Real Estate Listing Agreement shall be binding upon the seller's beneficiaries and assignees.

XXVI. Dispute Resolution

This term states that disputes regarding the Real Estate Listing Agreement must be resolved through binding arbitration of both parties.

XXVII. Governing Law

Enter the state where its laws will govern the Real Estate Listing Agreement.

XXVIII. Severability

This term states that if a portion of the Real Estate Listing Agreement is unenforceable or illegal, the remainder may still be deemed enforceable.

XXIX. Additional Terms and Conditions

Enter other terms and conditions.

XXX. Entire Agreement

This term states that the Real Estate Listing Agreement constitutes all details regarding the sale and supersedes prior agreements made in oral or written.

Seller's Signature Over Printed Name

Enter the seller's name and signature.

Date

Enter the date upon signing the Real Estate Listing Agreement form.

Broker's Signature Over Printed Name

Enter the broker's name and signature.

Date

Enter the date upon signing the Real Estate Listing Agreement form.

Agency Name

Enter the agency's name.

Is a Real Estate Listing Agreement form legally binding?

Real Estate Listing Agreement becomes legally binding when signed by the seller and the agency. Both parties who signed the contract are bound to its terms and conditions. Thus, they are subjected to penalties if the contract is breached.