A Nebraska real estate listing agreement is used to bind a real estate licensee and a seller of residential property into an agreement wherein the licensee can seek a buyer for the seller’s property and negotiate the transaction. Depending on the limitations of the agreement, the licensee may be authorized to effectuate open houses, create digital or print advertising, or schedule video/photoshoots. The licensee may receive exclusive selling rights as the sole party marketing the property or exclusive agency rights, which allow the owner to independently obtain a buyer without any commission owed to the licensee. If the licensee is granted an “open listing” right-to-sell, the owner retains the right to sell independently as well as appoint additional agents into similar agreements.
- Dual Agency (§ 76-2419) – Dual agency representation is permitted in Nebraska provided the licensee receives informed consent from both parties.
- Purchase Agreement – This legal contract is used in the negotiations of a real estate transaction and transfers the property title of a home from the owner to the purchaser.
A form disclosing the duties of an agent is required to be presented by the real estate licensee upon their first meeting with a potential client. The disclosure form is used to inform the client of the available options and does not enter them into any contractual obligations.
The agent can represent buyer and seller to a transaction if both parties provide written consent and are informed of the agent’s duties and responsibilities. A dual agent cannot disclose confidential information between the two parties, such as information that may affect the buyer or seller’s negotiating position.
All material facts concerning a property for sale, including those that may lower its value and sale price, must be disclosed to the buyer via a written statement. The statement must detail the current condition of the property and its systems, as well as any previous adverse occurrences, such as floodings, infestations, or property violations.