Real Estate Listing Agreement

A Real Estate Listing Agreement is a contract between a property owner and a real estate broker or agent. Key elements include:

1. Exclusive right to sell: Typically grants the agent sole right to market and sell the property

2. Duration: Specifies the time period for which the agreement is valid

3. Listing price: States the asking price for the property

4. Commission: Outlines the percentage or flat fee the agent will receive upon sale

5. Marketing plan: Details how the agent will promote the property

6. Seller’s obligations: Lists what the owner must do (e.g., maintain the property)

7. Termination clause: Conditions under which the agreement can be ended

This agreement protects both parties by clearly defining roles, responsibilities, and compensation. It ensures the agent is motivated to sell the property and the owner understands their commitments. Before signing, property owners should carefully review all terms, especially those related to duration, commission, and termination. Some agreements may include additional clauses such as dual agency disclosure or protection period terms.