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Exclusive Seller Representation Agreement (under designated agency) This form was developed by the Real Estate Council of Alberta for use in residential real estate. Agreement No. between the brokerage

How to fill out exclusive seller representation agreement

How to Fill Out Exclusive Seller Representation Agreement:

1. Begin by carefully reading the agreement: Take the time to thoroughly read through the exclusive seller representation agreement to understand its terms, conditions, and obligations. Highlight any areas that may require further clarification or that you are unsure about.
2. Provide accurate personal information: Fill in your name, contact information, and any other requested personal details accurately. This ensures that the agreement is legally binding and can be easily identified.
3. Specify the property details: Clearly describe the property that you are entrusting the agent to represent. Include the address, size, features, and any other relevant information about the property.
4. Define the listing price and terms: Determine the listing price at which you want the property to be marketed. Additionally, outline any specific terms or conditions you have regarding the sale, such as desired closing date, financing options, or contingencies.
5. Set the duration of the agreement: Decide on the duration of the exclusive seller representation agreement. This is the period during which the agent will exclusively represent you for selling the property. Choose a timeframe that aligns with your goals and expectations.
6. Specify the commission rate: Negotiate and agree upon the commission rate that the agent will receive upon the successful sale of the property. Ensure that this rate is clearly documented in the agreement to avoid any disputes later.
7. Include any additional provisions or conditions: If there are any specific provisions or conditions that you want to be included in the agreement, such as marketing strategies, open house schedules, or communication preferences, make sure to include them.
8. Seek legal advice if needed: If you are uncertain about any aspect of the agreement or have concerns about the terms, consider seeking legal advice. This ensures that you fully understand your rights and responsibilities before signing the contract.

Who Needs Exclusive Seller Representation Agreement:

1. Homeowners looking to sell their property: If you are a homeowner planning to sell your property, an exclusive seller representation agreement can help protect your interests and ensure a dedicated agent is working on your behalf.
2. Real estate investors: Investors who regularly buy and sell properties may benefit from having an exclusive seller representation agreement in place. This agreement can streamline the process and provide a consistent agent to handle their transactions.
3. Property developers or builders: Those involved in property development or building projects may require an exclusive seller representation agreement to have a designated agent represent their properties in the market.

Remember, it is always advisable to consult with a professional real estate agent or attorney to ensure that you fully understand the terms and implications of an exclusive seller representation agreement.

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What is exclusive seller representation agreement?

An exclusive seller representation agreement is a contract between a seller and a real estate agent or broker that grants the agent or broker the exclusive right to represent the seller in the sale of their property.

Who is required to file exclusive seller representation agreement?

The seller and the real estate agent or broker are required to file the exclusive seller representation agreement.

How to fill out exclusive seller representation agreement?

To fill out an exclusive seller representation agreement, both the seller and the agent or broker must include all necessary information regarding the property, the terms of the agreement, and any commissions or fees.

What is the purpose of exclusive seller representation agreement?

The purpose of an exclusive seller representation agreement is to establish a formal relationship between the seller and the real estate agent or broker, outlining their obligations and responsibilities during the sale process.

What information must be reported on exclusive seller representation agreement?

The exclusive seller representation agreement must include details such as the property address, listing price, commission rates, duration of the agreement, and any additional terms or conditions agreed upon by both parties.