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EXCLUSIVE AGENCY LISTING AGREEMENT TO MARKET PROPERTY THROUGH THE MULTIPLE LISTING SERVICE (MLS) IN WESTERN & CENTRAL NY V2.3 This agreement is made on between Northern Star Realty (the Broker) and

How to fill out exclusive agency listing agreement

How to fill out an exclusive agency listing agreement:

1. Read the agreement: Start by carefully reading the entire exclusive agency listing agreement. Make sure you understand all the terms and conditions before proceeding.
2. Fill in the basic details: Begin by entering the basic information required in the agreement, such as your full name, contact information, and the date.
3. Property description: Provide a detailed description of the property you want to list. Include the address, size, number of rooms, amenities, and any other relevant information.
4. Listing price and terms: Specify the desired listing price for the property and any specific terms you want to include, such as the duration of the listing or any contingencies.
5. Exclusive agency representation: In this section, indicate that you are granting exclusive representation to the real estate agent or agency named in the agreement. This means that they will be the only authorized party to market and sell the property during the specified period.
6. Compensation: Clearly outline the compensation terms, including the commission percentage or amount that will be paid to the real estate agent upon the successful sale of the property.
7. Marketing and advertising: Detail the marketing and advertising strategies that the agent will employ to promote the property. Specify any limitations or conditions related to marketing efforts.
8. Listing duration: Specify the duration of the exclusive agency agreement. This refers to the period of time during which the agent has the exclusive right to sell the property.
9. Seller’s obligations: Outline any specific obligations that the seller needs to fulfill during the listing period, such as property maintenance, providing access for showings, or making necessary repairs.
10. Sign and date: Once you have filled in all the necessary information, carefully review the agreement and make any required corrections. Sign and date the document to indicate your acceptance of the terms.

Who needs an exclusive agency listing agreement?

1. Property sellers: An exclusive agency listing agreement is typically needed by property sellers who want to work with a real estate agent or agency exclusively. This type of agreement gives the agent the sole right to market and sell the property for a specified period.
2. Real estate agents: Real estate agents or agencies also require exclusive agency listing agreements to secure the rights to represent a property for sale. This ensures that they have exclusive control over the marketing and sale process, giving them the opportunity to earn a commission upon a successful sale.
3. Properties with unique qualities: Exclusive agency listing agreements are commonly used for properties with unique qualities or specific target markets. By granting exclusive representation, sellers can ensure that the chosen agent has the necessary expertise and resources to effectively market and sell such properties.

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What is exclusive agency listing agreement?

An exclusive agency listing agreement is a contract between a real estate agent and a seller that gives the agent the exclusive right to sell the property for a specified period of time, but allows the seller to find a buyer on their own without having to pay a commission to the agent.

Who is required to file exclusive agency listing agreement?

The real estate agent is required to file the exclusive agency listing agreement with the appropriate real estate agency or regulatory body.

How to fill out exclusive agency listing agreement?

To fill out an exclusive agency listing agreement, both the real estate agent and the seller must carefully review and complete all the required fields, including property details, sales price, commission rate, terms and conditions, and signatures.

What is the purpose of exclusive agency listing agreement?

The purpose of an exclusive agency listing agreement is to establish a legal relationship between the real estate agent and the seller, outlining the agent's responsibilities, the terms of the agreement, and the commission structure.

What information must be reported on exclusive agency listing agreement?

The exclusive agency listing agreement must include details such as property address, legal description, listing price, commission rate, duration of the agreement, and any other relevant terms and conditions.