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Real Estate Contract

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SALESPERSON CONTRACT - PERCENTAGE CONTRACT

REAL ESTATE BROKER - REAL ESTATE SALESPERSON

This agreement is entered into and is effective this the day of , 20 , by and between (hereinafter “Salesperson”) and (hereinafter “Broker”) for the mutual purpose and the consideration agreed to herein, as follows: [cross out any provisions not applicable]

1. Salesperson to Use Best Efforts. Salesperson will diligently pursue and use his/her best efforts to promote the interest of Broker and to complete sale(s) of the following:

(A)

(B)

2. Salesperson Obligations. It is further agreed that the salesperson is aware that he/she is to pay all local, state and national dues, MLS dues, E & O insurance annually, license renewal, continuing education and any other dues or self-promoting costs needed to do business in real estate. Salesperson and Broker agree that no contract of employment is created by this Agreement and that, to the extent allowable under applicable law, the relationship of the Salesperson to the Broker created hereunder is one of Independent Contractor.

3. Monthly Fees by Salesperson. Salesperson further agrees to pay a $ per month servicing fee for use of copier, local fax services, MLS computer & printer, local phone calls, yard signs, desk and desk space.

4. Referral Fees. All referrals from , either inbound or outbound, are subject to [check one]: or

5. Setting of Commission. All residential sales are assumed to be commissioned at 6%, raw land and farm and 10%, commercial and industrial 10%, multi-family 6%. If there is a variance from these rates, it must first be agreed upon by broker. If not agreed, then Broker is due its full share of the commission based on the usual rate.

6. Other Agreements. Any other agreement made between an agent to share in expenses at closing, etc. is born by the agent and deducted from his share of commission. Broker is to receive full commission without deduction.

7. Expenses. Marketing representative agrees to pay all bills when presented to him/her by broker such as applicable long distance phone bills, MLS dues, E&O insurance, advertising, magazine charges, etc. each month on a timely basis.

8. Broker Advertising. Broker agrees to pay for at least one (1) advertisement in and one (1) other advertisement at broker’s discretion.

9. Commission Scale and Exhibit Hereto. The agreed upon beginning commission split, after the $ franchise fee is deducted, is 50/50 with 50% going to marketing representative and 50% going to company. Commission split is then based on a graduating scale which is attached to this contract as exhibit “ ”, if agreed upon.

10. Entirety. This Agreement contains the complete agreement between the parties and supersedes all prior discussions, negotiations and writings between the parties as related to the same subject matter.

11. Applicable Law. This Agreement is subject to the laws of the State of and in the event that one or more provisions are found to be inapplicable by a court of competent jurisdiction, the remainder shall be construed insofar as practicable to give continuing effect to this Agreement.

12. Other Provisions.

WITNESS THE SIGNATURES of the parties to this Agreement:

Signature of Broker

Signature of Salesperson

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What a Real Estate Contract Is and Why It Matters

A Real Estate Contract is a legally binding agreement that records the terms under which real property is transferred or leased. It establishes the parties, purchase price or rent, contingencies (inspection, financing, title), key dates, closing conditions, and remedies for breach. Real estate contracts may be standardized statewide forms or custom agreements negotiated between buyer and seller. Properly completed contracts allocate risk, trigger escrow and recording steps, and provide the written evidence courts use to enforce property rights and obligations.

Why a Clear Real Estate Contract Protects All Parties

A well-drafted Real Estate Contract clarifies obligations, preserves evidence for closing and dispute resolution, and reduces the risk of failed transactions. It specifies contingencies, deadlines, and deliverables so parties and agents can coordinate inspections, financing, and title work efficiently.

Why a Clear Real Estate Contract Protects All Parties

Who Typically Prepares and Signs This Agreement

Real estate contracts are completed by buyers, sellers, brokers, lenders, and closing agents depending on the transaction role.

  • Buyers and buyers' agents responsible for making offers and negotiating contingencies.
  • Sellers and listing agents who disclose property condition and accept offers.
  • Lenders, title companies, and closing attorneys who verify financing, title, and recording requirements.

Parties should confirm signatory authority and follow state notarization or witness requirements before submitting documents for recording or escrow.

Core Elements to Include in Every Real Estate Contract

A professional Real Estate Contract groups critical terms so obligations and timelines are explicit and enforceable.

Parties

Full legal names and entity types for buyer(s) and seller(s) to establish contractual capacity and avoid identity disputes.

Property

Complete legal description or street address plus parcel number where applicable to precisely identify the asset being transferred.

Price & Payment

Purchase price, earnest money amount, payment method, and escrow instructions to document consideration and closing funds flow.

Contingencies

Inspection, financing, appraisal, and title contingencies with explicit cure periods and termination rights to manage conditional obligations.

Closing Terms

Closing date, place of closing, prorations, and who pays customary closing costs to avoid last-minute disputes.

Remedies

Default provisions, liquidated damages or specific performance clauses, and dispute-resolution mechanism to define consequences for breach.

Essential Data Fields to Collect

Buyer Name: Exact legal name
Seller Name: Exact legal name
Property Address: Full street address
Purchase Price: Numeric amount
Effective Date: MM/DD/YYYY
Signatures: Signed by authorized parties

Step-by-Step: Completing a Real Estate Contract

Follow these sequential steps to prepare, review, and finalize the contract before escrow and recording.

  • 01
    Draft Terms: Enter parties, property, price, and basic terms.
  • 02
    Add Contingencies: Include inspection, financing, and title conditions.
  • 03
    Review with Counsel: Have attorney or broker verify legal and title items.
  • 04
    Sign and Exchange: Obtain signatures and deliver to escrow or title company.

How to Configure an Online Completion Workflow

Set up fields, signer order, and authentication to reduce friction and maintain an audit trail for the Real Estate Contract.

Field Configuration
Signature Required | signer-specific placement
Date Auto-fill or signer-entered MM/DD/YYYY
Initials Optional per-page initial fields
Authentication Email link or SMS code for signer verification

Where to Send and File a Completed Contract

Routing depends on transaction stage: counteroffers, escrow deposit, lender submission, and county recording are typical destinations.

  • Counterparty: Send executed copies to buyer and seller.
  • Escrow/Title: Deliver signed contract and earnest money instructions to escrow agent.
  • Lender: Provide contract package to mortgage lender for underwriting.
  • County Recorder: Record deed or other conveyance after closing.

Delivery Channels and eSubmission Considerations

Choose distribution methods that preserve the signed record and provide an audit trail for every party.

  • Email Delivery: Common for executed copies
  • Secure Portal: Preferred for lender and title uploads
  • eRecording: Used for direct filing to county systems

Ensure recipients receive a PDF copy with embedded audit data (timestamps, signer attribution) and retain original signed records per retention policies.

Common Deadlines and Time-Sensitive Triggers

Real estate contracts include multiple deadlines — clearly identify each with date or number of days to avoid forfeiture or termination.

Earnest Money Deadline:

Deposit due per contract terms, often within 2–5 days

Inspection Period:

Typical window: 7–15 days for inspections and reports

Financing Contingency:

Buyer's loan approval deadline set by contract

Closing Date:

Date when ownership transfers and funds disburse

Title Objection Cure:

Seller cure period for title defects per contract

Common Mistakes to Avoid When Preparing a Contract

  • Using informal or inconsistent party names that conflict with ID or title documentation, creating acceptance or funding delays.
  • Failing to set clear contingency deadlines, which can unintentionally extend obligations or permit unilateral termination.
  • Omitting precise legal descriptions or parcel numbers, resulting in recording rejection or conveyance ambiguity.
  • Relying on unsigned or initial-only pages where a full signature is required, leaving terms unenforceable or contested.

Key Risks if the Contract Is Incorrect or Incomplete

Deposit Forfeiture: Buyer may lose earnest money
Failed Closing: Transaction may be terminated
Recording Rejection: County may refuse deed
Title Defect: Cloud on title requiring cure
Breach Litigation: Litigation and legal costs
Tax Exposure: Incorrect reporting risks penalties

Real-World Examples of Digital Contract Workflows

These brief examples show how practitioners complete and manage Real Estate Contracts using online workflows and secure signing.

Tim Martin — Martin Properties

A broker needed mobile signing for on-site closings to avoid delays.

  • Mobile signing enabled secure remote execution.
  • "I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently."

Brian Fitzgibbons — Optica Ventures LLC

A small investment firm required an easy customer-facing signing experience for purchase agreements.

  • Simplified interface reduced signer confusion.
  • "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."

eSignature Vendor Comparison for Real Estate Contracts

Comparison of common vendor attributes and starting prices to help assess eSignature options for contract execution.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial, no credit card Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions About Real Estate Contracts

Answers to common practical and legal questions about completing and executing Real Estate Contracts in the United States.


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