Scope of Authority
Describe specific agent powers (list, show, negotiate, accept offers) and any limits, such as price floors, approved expenditures, or need for owner consent on offers.
A formal Residential Agency Agreement documents consent, sets expectations for service and commission, and creates enforceable obligations between owner and agent under state brokerage law.
The primary parties are the property owner(s) and the licensed real estate broker or agent; other stakeholders frequently include co-owners, property managers, and buyers' brokers.
Use the agreement to establish representation, commission arrangements, and termination terms so all parties understand obligations before marketing or showing begins.
A property owner or landlord signs to delegate marketing, showing, and transaction authority to a broker, and to accept the commission and termination terms that will govern compensation and liability during the listing period.
A licensed broker or agent signs to accept agency duties, confirm licensing and disclosures, and bind the brokerage to marketing and cooperation obligations stated in the agreement.
Describe specific agent powers (list, show, negotiate, accept offers) and any limits, such as price floors, approved expenditures, or need for owner consent on offers.
State whether the broker has exclusive rights to list or whether the owner may engage other brokers; specify what triggers a commission if a sale or lease results.
Specify commission percentage or flat fee, how it is calculated, when it is earned, who pays closing costs, and whether split arrangements apply with cooperating brokers.
Set the effective and expiration dates, notice requirements for early termination, and consequences for unilateral termination including any earned commission events.
Include required state agency disclosure language, confirm broker licensing, and address fair housing, disclosure of material facts, and any local ordinance compliance.
Include holdover or protection periods that preserve commission rights for deals introduced during the term but closing afterward, and confidentiality obligations.
| Field | Configuration |
|---|---|
| Signer Roles | Assign Owner, Broker, Co-signer as distinct roles. |
| Authentication | Use email link or SMS code; require stronger ID for high-risk deals. |
| Conditional Fields | Show commission split fields only when applicable. |
| Audit Trail | Enable timestamped events and IP logging. |
Choose a platform that supports PDF/DOCX import, audit trails, and required signer authentication for your jurisdiction and industry.
State the effective date and specific expiration date of the listing term.
Specify how many hours or days the owner has to respond to presented offers.
Set required notice period for early termination by either party.
Define timeframe preserving commission for offers introduced during the listing.
Explain where final signed copies are stored and who receives them.
Agreement becomes effective and property enters MLS or marketing channels.
Agent presents offers and obtains owner decisions within agreed timeframes.
Contingencies are satisfied and the deal moves toward closing with escrow instructions.
Final settlement, commission calculation, and distribution occur per agreement terms.
| 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 | Yes, limited trial | Yes, limited trial | Yes, limited trial | Yes, limited trial |
| Bulk Send | Yes | Yes | Yes | Yes | No |
| Audit Trail | Yes | Yes | Yes | Yes | Yes |
| HIPAA Compliant | Yes | Yes | Yes | No | No |