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Real Estate Listing Agreement Template

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A real estate listing agreement is a contract between a property owner and a real estate agent. It allows the agent to handle the property’s sale from beginning to end, including marketing the home, looking for a buyer, and negotiating the terms of the sale.

The agreement covers:

  • The asking price ($) for the property.
  • The agent’s commission.
  • The duties the agent is obligated to uphold.
  • The term of the agreement (the “listing period”).
  • The agent’s selling rights (exclusive, open listing, etc.).
  • The ways the agent can go about marketing the property.

Listing Agreements: By State


Listing Agreements: By Type (3)

 


Exclusive Agency Listing Agreement – Limits the seller to only working with one agent, but does not provide the agent with a commission if the seller finds a buyer on their own.

Download: PDF, Word (.docx), OpenDocument

 


Open Listing AgreementThe least binding option of the three listing agreements, an open listing contract allows any agent to find a buyer and receive a commission. Provides a great deal of flexibility for sellers but is a less attractive option for agents.

Download: PDF, Word (.docx), OpenDocument

 


Addendums (2)

Lead-Based Paint Disclosure – Must be attached to a purchase agreement (before the parties sign the contract) if the property was built prior to 1978.

Download: PDF

 


Property Disclosure Statement – A form that lists any and all issues or defects with the property. Must be provided to a potential buyer before signing a purchase agreement.

Download: PDF, Word (.docx), OpenDocument

 


Related Forms (2)

Buyer’s Agency Agreement – A contract formed between a broker and a potential buyer. The broker will show the buyer potential properties, negotiate on their behalf, and handle other responsibilities in exchange for a commission.

Download: PDF, Word (.docx), OpenDocument

 


Business Listing Agreement – Guarantees a broker a monetary or percentage-based commission in exchange for successfully selling a company.

Download: PDF, Word (.docx), OpenDocument

 


Contents


Sample

Download: PDF (Blank) | PDF (Sample Data)

REAL ESTATE LISTING AGREEMENT

1. THE PARTIES. This Real Estate Listing Agreement (the “Agreement”) made on [MM/DD/YYYY], is between [SELLER NAME] (the “Seller”), with a mailing address of [SELLER ADDRESS] and [BROKER NAME] (the “Broker”), of [AGENCY NAME] (the “Agency”), with a mailing address of [AGENCY ADDRESS].

Collectively, the Seller and Agency shall be referred to as the “Parties”.

2. REAL PROPERTY. The real property that is the subject of this Agreement is located at the address of [PROPERTY ADDRESS]. The Seller warrants and acknowledges to be the owner of the Property and that no other individuals or entities have title. The aforementioned real property, personal property, and included fixtures shall be hereinafter referred to as the “Property”.

3. RIGHTS TO SELL. The Seller grants the Agency: (check one)

– Exclusive Right-to-Sell
– Exclusive Agency
– Open Listing

4. PURCHASE PRICE. Under the terms of this Agreement, the Seller hereby grants the Agency rights to sell the Property for the following amount: $[PURCHASE PRICE].

5. LISTING PERIOD. This Agreement shall start on [MM/DD/YYYY] and end on [MM/DD/YYYY] at 12:00 midnight (the “Listing Period”).

6. COMMISSION. The Agency, as compensation for finding a Buyer that is willing and able to purchase the Property, shall receive a percentage based on the sales price in the amount of [#]% (the “Commission”).

The Commission shall be due if the Property is sold or transferred within [#] days after the expiration of the Listing Period to anyone the Broker or the Agency has previously negotiated.

7. COOPERATION WITH OTHER AGENTS AND AGENCIES. During the Listing Period, should a licensee represent a Buyer whose offer to purchase the Property is accepted by the Seller, then that licensee shall be entitled to a commission of [#]%, provided the Buyer completes the transaction.

8. MULTIPLE LISTING SERVICE (MLS). Due to rules administered by the local Multiple Listing Service (“MLS”), all details of any transaction that are procured by the Agency may be used for publication in the MLS. The Seller hereby consents to such publication on an unrestricted basis.

9. DUTIES. The Broker agrees to exercise all reasonable efforts while providing a fiduciary duty to act in the best interests of the Seller. The Seller agrees to make a reasonable effort to accommodate the Broker, including, but not limited to, open houses, showings, Buyer appointments, inspections, testing, and any other requests regarding the use of the Property.

10. INDEMNIFICATION. The Seller agrees to indemnify the Agency and hold harmless from any and all claims, which may lead to a dispute, due to any false information provided.

11. SEVERABILITY. This Agreement shall remain in effect in the event a section or provision is unenforceable or invalid.

12. GOVERNING LAW. This Agreement shall be governed under the laws located in the State of [STATE NAME].

13. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the Seller and the Agency and supersedes all prior discussions, negotiations, and agreements between the Parties, whether oral or written.

Seller’s Signature: ________________________ Date: [MM/DD/YYYY]
Print Name: [SELLER NAME]

Broker’s Signature: ________________________ Date: [MM/DD/YYYY]
Print Name: [BROKER NAME]
Agency: [AGENCY NAME]


What is a Listing Agreement? (3 Types)

A listing agreement allows a real estate agent to market their client’s property to potential buyers in exchange for a percentage of the selling price. There are three (3) common types of listing agreements, and each of them has a different level of exclusivity with regard to the broker’s relationship with the seller.

1. Exclusive Right to Sell (View)

Arguably the most popular type of listing contract, this agreement guarantees the broker will receive their commission as long as the property is sold while the contract is still effective.

This option is most often preferred by brokers as it removes the risk of the seller (or another agent) from finding their own buyer in order to avoid paying the commission. Because this agreement is exclusive, the buyer is prohibited from hiring any others brokers as well.

2. Exclusive Agency Listing (View)

With this type of contract, the seller gives the rights to selling the property to only one (1) broker (like the exclusive right to sell), but if the seller finds a buyer on their own (without the broker’s help), they are not required to pay the broker’s commission.

To summarize, the seller is not allowed to work with any other brokers, but can take an active process in selling the property alongside the broker. This option is not preferred by brokers, but is still the more favorable option when compared to an open listing.

3. Open Listing (View)

This “no holds barred” type of agreement places few restrictions on the seller, allowing them to work with any broker in order to sell the property. This is the common option for FSBO (For Sale by Owner) properties.

While rarely used in comparison to the other types above, it is more common when the market is saturated with buyers and in cases where properties are located in more rural areas or are slightly more difficult to sell.


Agency Disclosure Forms: By State

STATE STATUTE FORM (.pdf)
Alabama § 34-27-82 Brokerage Services Disclosure
Alaska § 08.88.610§ 08.88.615 Real Estate Commission Consumer Disclosure |
Waiver of Right to be Represented
Arizona Not required N/A
Arkansas § 17-42-108 Agency Representation Disclosure Form
California § 2079.14 & § 2079.16 Disclosure Regarding Real Estate Agency Relationship
Colorado § 12-61-808 Brokerage Disclosure to Seller
Connecticut § 20-325d Real Estate Agency Disclosure Notice
Delaware § 2938 Consumer Information Statement
Florida § 475.278 Brokerage Relationship Disclosure
Georgia Not required N/A
Hawaii Not required N/A
Idaho § 54-2085 Agency Brokerage Disclosure
Illinois § 225 ILCS 454/15-35 Disclosure of Seller’s Designated Agent
Indiana § 25-34.1-10-10 N/A
Iowa § 193E-12.2 Agency Disclosure and Acknowledgement
Kansas § 58-30,110 Real Estate Brokerage Relationships
Kentucky § 201 KAR 11:121 Sec. 5 Guide to Agency Relationships
Louisiana Admin. Code § LXVII-3703 Customer Information Form or Agency Disclosure Pamphlet
Maine § 13279 Brokerage Relationships Form
Maryland § 17-530 Agent Representation Form
Massachusetts § 87AAA3/4(d) Consumer Relationship Disclosure
Michigan § 339.2517 Agency Relationships Disclosure
Minnesota § 82.67 Agency Relationships in RE Transactions
Mississippi § 1601-4.3 Working with a Real Estate Broker
Missouri § 339.770 Broker Disclosure Form
Montana § 37-51-314 Relationships in Real Estate Transactions
Nebraska § 76-2422 Agency Disclosure Information
Nevada § 645.252 Duties Owed by Licensee
New Hampshire Rea 701.01 Brokerage Relationship Disclosure
New Jersey § 11:5-6.9 Consumer Information Statement
New Mexico § 16.61.19.8 Broker Duties Disclosure
New York § 443 Disclosure Form for Buyer and Seller
North Carolina § 58A .0104 Working with Real Estate Agents
North Dakota § 70-02-03-15 Agency Relationships in Real Estate Transactions
Ohio § 4735.57 Agency Disclosure Statement
Oklahoma § 858-355.1 Disclosure to Seller or Buyer
Oregon § 696.805 & § 696.820 Initial Agency Disclosure Packet
Pennsylvania 49 Pa. Code § 35.284 & § 35.336 Consumer Notice
Rhode Island § 5-20.6-8 Real Estate Relationship Disclosure
South Carolina § 40-57-370 Disclosure of Brokerage Relationships
South Dakota § 36-21A-147 Real Estate Relationships Disclosure
Tennessee No statute N/A
Texas § 1101.558 Information about Brokerage Services
Utah No statute Agency Disclosure
Vermont § 4.6 (Page 15) Consumer Disclosure (Designated Agency) | Consumer Disclosure (Non-Designated Agency)
Virginia § 135-20-220  Disclosure of Brokerage Relationship and Dual Agency
Washington § 18.86.030 Agency Disclosure
West Virginia § 30-40-26 Notice of Agency Relationship
Wisconsin § 452.135(2) Broker Disclosure to Clients
Wyoming § 33-28-306 Real Estate Brokerage Disclosure

Glossary

  • Appraisal – Estimates the value of a property. Required by banks to ensure the property’s value matches the value of the loan they provide.
  • Covenants, Conditions, and Restrictions (CC&Rs) – Also known as “bylaws,” these are limitations on what a homeowner can do with their property. The rules are typically set by a home owner’s association (HOA), developers, or builders.
  • Closing – Finalizes the sale of the property. This is the time when all documents are signed, money is paid to each respective party, and the buyer takes ownership of the property.
  • Contingency – A clause that allows the parties to “back out” of the deal in certain circumstances.
  • Earnest Money Deposit (EMD) – A payment made from a potential buyer to a seller to convey the buyer’s interest in purchasing the property. Typically paid after the purchase agreement is signed and kept in an escrow account.
  • Escrow – An arrangement in which money (such as an earnest deposit) is held by a 3rd party until a specific action has occurred.
  • FSBO – An initialism for “For Sale by Owner,” it refers to the process of selling a property without the assistance of a real estate agent.
  • Lockbox – A secured device that contains the keys to the property. It hangs around the doorknob, and can only be accessed by other agents for the purpose of showing the property to potential buyers.
  • MLS – An up-to-date database run by agents and brokers that contains active listings in a specific area or state.

Frequently Asked Questions

What's the difference between a listing agent and a buyer's agent?

A buyer’s agent represents a party interested in purchasing real estate. They show the buyer potential listings, negotiate on their behalf, handle paperwork, and communicate with 3rd parties.

A seller’s agent is a professional that represents the seller of property. They add the property to MLS, research the market, recommend the optimal list price, host open houses, present offers to the seller from potential buyers, and negotiate on the seller’s behalf.

How to Realtors, real estate agents, and brokers differ?

  • Realtors belong to the National Association of Realtors (NAR). Someone that is a Realtor is not necessarily a real estate agent, as the NAR accepts other real estate-related professions (such as property managers) into the association.
  • Real estate agents are professionals that are licensed to assist people with the buying and selling of real estate.
  • Real estate brokers are those with further education and certification that can open their own brokerage and hire other agents.

Why do listing agreements have an expiration date?

Listing agreements expire to protect the seller from being tied to a single agent. It also adds pressure on the existing agent to sell the property within the timeframe.

If the property doesn’t sell prior to the expiration date, the seller can:

  1. Hire a different agent to try and sell the property.
  2. Take the property off the market.
  3. Revise the plan with their existing agent and set a new expiration date.

How can I terminate a listing agreement?

Consult the signed listing agreement. It may contain a clause that specifies how to terminate the contract. If no clause exists, the seller may need to pay the agent a commission or damages.