Real Estate Agency Terms

REAL ESTATE AGENCY TERMS

Parties and Effective Date

Client Name:

Effective Date:

Property Identification

Scope of Engagement

Client hereby retains Broker to act as: Exclusive Right to Sell Exclusive Agency Open Listing

Broker agrees to use customary efforts to market the property, procure offers, present all offers promptly, and to advise Client on negotiation and closing. Broker is authorized to place signs, advertise, hold open houses, list on brokerage distribution systems and to engage cooperating brokers consistent with brokerage policies.

Financial Terms and Commission

Commission shall be: % of the gross sales price or a flat fee of $.

Commission is earned and payable upon closing from transaction proceeds. If the transaction fails due to Client's default, Broker's commission shall be due as liquidated damages. If a buyer procured by Broker closes within days after termination, commission remains payable if buyer was introduced during the term.

Marketing Expenses and Advance Costs

Broker may advance reasonable marketing and closing costs. Client agrees to reimburse Broker upon closing for authorized expenses up to $ unless otherwise agreed in writing.

Broker shall obtain Client's prior written authorization for expenditures exceeding $.

Disclosures and Seller Representations

Client represents and warrants that Client is the lawful owner of the Property and has full authority to enter into this Agreement. Client shall deliver all legally required property disclosures to prospective purchasers and to Broker in a timely manner.

Lead-Based Paint Disclosure: Known presence of lead-based paint: Yes No

Known material defects or prior major damage (structural, water, fire): Yes No

Dual Agency and Conflict of Interest

Broker may represent multiple clients. Dual agency or designated agency may arise if Broker also represents a buyer. Client acknowledges that dual agency creates inherent conflicts. Client gives the following election regarding dual agency: Client consents to dual agency, subject to Broker's statutory duties of disclosure and confidentiality. Client does not consent to dual agency; Broker must decline representation that would create dual agency.

Seller Duties; Access and Condition

Client shall maintain the Property in substantially the same condition, provide reasonable access for showings and inspections, and deliver keys or access codes as required. Client shall not conceal or materially misrepresent facts about the Property.

Term, Termination and Remedies

Term of Agreement: Commencing on and terminating on , unless earlier terminated in accordance with this Agreement.

Either party may terminate for material breach if the breaching party fails to cure within days after written notice. Termination does not relieve Client's obligation to pay commission for transactions procured by Broker prior to termination or within the protection period.

Indemnification and Liability

Client shall indemnify and hold Broker harmless from and against all claims, losses, liabilities and expenses arising out of Client's breach of representations, failure to disclose material facts, or Client's negligence, except to the extent caused by Broker's willful misconduct or gross negligence.

Confidentiality and Use of Information

Broker will treat confidential information provided by Client as required by law and professional standards. Broker may disclose material facts about the Property to prospective purchasers and cooperating brokers, and may use non-confidential information for marketing and statistical purposes.

Escrow, Earnest Money and Closing

Buyer deposits and earnest money shall be delivered to the designated escrow holder and handled in accordance with the purchase contract and escrow instructions. Broker shall promptly deliver any deposits received to escrow. Broker does not act as escrow agent unless expressly agreed in writing.

Dispute Resolution and Governing Law

The parties agree to attempt to resolve disputes in good faith. If unresolved, disputes shall be submitted to: Binding arbitration Judicial litigation State governing law:

Entire Agreement; Amendment

This Agreement constitutes the entire agreement between the parties relating to the subject matter and supersedes all prior agreements, understandings and representations. No alteration of this Agreement shall be effective unless in writing and signed by both parties.

Acknowledgement and Electronic Communication

Client acknowledges receipt of a copy of this Agreement and authorizes Broker to use electronic communications including email and electronic signatures. Client consents to receive transactional disclosures and notices by electronic means unless otherwise withdrawn in writing.

Additional Provisions

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