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Arizona Real Estate Listing Agreement

An Arizona real estate listing agreement establishes the terms and conditions of the arrangement between a real estate agent/broker and an individual selling real property. Unlike a purchase agreement, which is between a buyer and a seller, the listing agreement enables the seller and their agent to determine specific factors that will come into play while the agent attempts to locate a buyer for the property being sold. Aside from information pertaining to the property, the listing contract outlines the sale price, the length of the listing term, the agent’s compensation, and the duties and obligations of both parties.

The agent and seller will negotiate whether the arrangement will be an “exclusive right to sell” and an “exclusive agency” type of listing arrangement. The former means compensation is provided to the agent no matter how a buyer is found, the latter grants compensation to the agent only if they find a buyer. Furthermore, an open listing would enable the seller to seek the services of multiple real estate agents to sell their property.

  • LawsA.R.S. § 32-2151.02(E)
  • Dual Agency (A.A.C. § R4-28-1101(F)) – Arizona does allow agents and brokers to represent both buyer and seller in a real estate transaction, but they must obtain written consent from both parties prior to representation using the Consent to Limited Representation form.
  • Purchase Agreement – This agreement outlines the purchase arrangement between a buyer and a seller of real estate; a real estate agent or broker my look over the contract to ensure it is fair for both parties.

Contents


Realtor Versions

Residential Listing Contract Exclusive Right to Sell  – This contract between a real estate agent and a property owner gives the agent the right to receive a commission from the sale price of the property even if they did not find the buyer.

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Residential Listing Contract Exclusive Agency – An exclusive agency contract, when executed by a real estate agent and a seller, means the agent receives a commission from the sale price of the property only if they were responsible for finding a buyer.

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Disclosures / Waivers (3)

Consent to Limited Representation (Dual Agency) (A.A.C. § R4-28-1101(F)) – If a real estate broker wishes to represent both the buyer and seller in a real estate transaction, they must obtain written consent from the parties by having them sign this consent form.

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Property Disclosure Statement (Hill v. Jones, 151 Ariz. 81, 725 P.2d 1115 (1986) – This disclosure must be completed by the seller (with help from their agent if need be) and delivered to the buyer to let them know of any material defects or issues that may affect the value of the property being sold.

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Real Estate Agency Disclosure and Election – While not specifically required by law, the Agency Disclosure and Election form is provided by real estate brokers to their clients (buyers and sellers) to educate them on the duties and responsibilities of broker representation.

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