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EXCLUSIVE LISTING CONTRACT 04/16/12 THIS IS A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK COMPETENT ADVICE BEFORE SIGNING. There are two types of exclusive listings defined by the New

How to fill out exclusive listing contract

How to fill out an exclusive listing contract:

1. Begin by obtaining a blank exclusive listing contract form. You can typically find these forms online, from a real estate association, or through your real estate agent.
2. Review the contract thoroughly to understand its terms and conditions. Make sure you are comfortable with the rights and obligations outlined in the contract before proceeding.
3. Fill in the necessary information, such as your name, contact information, and the property address. Ensure that all details are accurate and up-to-date.
4. Specify the duration of the exclusive listing agreement. This refers to the period in which the listing agent has the exclusive right to market and sell your property. Typically, this duration ranges from 30 to 90 days but can be longer if mutually agreed upon.
5. Determine the agreed-upon listing price for your property. Consult with your real estate agent to establish a fair market value based on recent sales in your area and the current market conditions.
6. Include any specific terms or conditions you would like to address in the contract, such as contingencies or repairs that need to be made before listing the property.
7. If applicable, outline any additional services or marketing strategies that the listing agent will provide to maximize exposure and attract potential buyers. This may include professional photography, virtual tours, or staging consultations.
8. Carefully read and understand the compensation section of the contract. This typically outlines the commission rate or fee that the listing agent will receive upon the successful sale of your property.
9. Sign and date the exclusive listing contract, and also ensure that the listing agent or their representative signs the document. This confirms that both parties have entered into a binding agreement.

Who needs an exclusive listing contract?

1. Sellers who prefer to work with only one real estate agent throughout the selling process often opt for an exclusive listing contract. This agreement gives the chosen agent the exclusive right to market and sell the property.
2. Homeowners who want to maximize their agent's dedication, time, and resources to sell their property effectively often choose an exclusive listing contract. This ensures that the agent will work diligently to secure potential buyers and negotiate the best deal.
3. Real estate agents may also request an exclusive listing contract if they believe they can provide significant value and expertise in selling the property. They may offer specific services or marketing strategies to justify their exclusive representation.

In summary, filling out an exclusive listing contract involves understanding the terms and conditions, providing accurate property information, setting a listing price, including any additional terms or conditions, and signing the agreement. This type of contract is beneficial for sellers who want a dedicated agent and real estate agents who feel confident in selling a specific property.

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What is exclusive listing contract?

An exclusive listing contract is a legally binding agreement between a real estate agent and a seller which gives the agent exclusive rights to market and sell the property.

Who is required to file exclusive listing contract?

The seller of the property is required to file the exclusive listing contract with the real estate agent.

How to fill out exclusive listing contract?

The exclusive listing contract can be filled out by providing details of the property, listing price, commission rate, duration of the agreement, and any other terms and conditions agreed upon by the seller and agent.

What is the purpose of exclusive listing contract?

The purpose of the exclusive listing contract is to establish a formal agreement between the seller and agent, outlining the terms of the agent's representation and marketing efforts.

What information must be reported on exclusive listing contract?

The exclusive listing contract must include details about the property, listing price, commission rate, duration of the agreement, and any other terms and conditions agreed upon by the seller and agent.