A Tennessee real estate listing agreement is a contract between a real estate agent and a property seller that allows the agent to represent the seller by listing, marketing, and negotiating the sale of their residential property on their behalf.
As defined in the contract, the agent will earn a commission upon the successful sale of the residence. However, the agent must sell the property within the term of their agreement. The majority of listing agreements are exclusive, meaning that the agent will be given the sole right to sell the relevant property during the period of their contract.
- Laws – § 62-13-401
- Dual Agency (§ 62-13-402(a), § 62-13-403, and § 62-13-404) – Written consent from both parties is required before an agent may be permitted to represent the buyer and seller in a transaction.
- Purchase Agreement – A real estate contract for the sale of residential property between the buyer and seller.
Tennessee RF101 – Exclusive Right to Sell Listing Agreement – This form is issued by Tennessee Realtors for licensed real estate agents and brokerages to enter into a contract to represent a seller of residential property.
Confirmation of Agency Status (§ 62-13-405(a), (b)) – Prior to entering into a purchase agreement in which the other party is unrepresented, a real estate agent is required to verbally disclose their agency status in the transaction and confirm it in writing with signed receipt from the unrepresented party.
Property Disclosure Statement (§ 62-13-405(a), (b), and § 66-5-202) – When representing a seller, real estate agents must disclose any known defects to the buyer through a property disclosure statement completed by the seller.