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Listing agreement

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explanation of listing agreement

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Listing agreement

  1. 1. LISTING AGREEMENT FORM TAR 1101
  2. 2. Required Documents LISTING AGREEMENT MLS SHEET IABS SELLER DISCLOSURE WIRING FRAUD NOTICE
  3. 3. Page 1 Complete Seller information. Include Spouse if applicable (check the Tax info) Broker is EXP Realty, LLC – Not Ron Dunagan or any name. Use the Regus office info and your own contact info Complete Property Description. Use County tax info 2.B Improvements – Seller agrees to sell all Improvements and Accessories that are not excluded Page 1
  4. 4. .. Exclusions – Make sure to list everything that is excluded List Price Listing Term – common is 6 months. Best practice is to Every listing on same day of the month for consistency. 5 B,C- Read when commission is earned and payable. Just because Seller terminates the agreement or decides to not close on a Does not necessarily mean agent loses commission Commission Amount – will be split with buyer agent 5 D – Other Compensation – if seller receives earnest money agent May be entitle to half. Read Carefully! Page 2
  5. 5. 5.2 – Service providers - agent may receive compensation or referrals in addition to the commission 5.3 – Other Compensation – Reimbursable expenses, Marketing, cancellation fee, transaction fee, etc. Protection Period – READ CAREFULLY – 1. Defines Protection Period 2. Names must be submitted to Seller within 10 days 3. Does not apply if… F. County is the one you are in. 6.1.a – Broker will file with MLS within 5 days or earlier MLS require to provide accurate listing sales info Page 3
  6. 6. Warning to seller not to exclude from mls Definition s Seller grants irrevocable, royalty-free rights to pictures, Video, virtual tours and broker listing content. Scheduling Company Authorization to Access Authorized to place Keybox Page 4
  7. 7. Make sure to check the Authorized box. Broker/Agent is held harmless and not responsible for loss, theft, etc.. Agree to Pay other buyer’s agent We do not participate with Sub- Agents Intermediary agreement and explanation Page 5
  8. 8. Does not agree to intermediary BOLD PRINT – Read Carefully “If broker acts as intermediary” Confidentiality agreement! Broker Authorized to market, place on internet, (seller must Specify if not wanting internet exposure) Authorized to advertise finance options -Be careful of condition Additional authorizations Page 6
  9. 9. Seller is Not Delinquent on financial obligations NOT GETTING FORECLOSED! Liens and/or encumbrances Is employer, relocation co, etc. involved in sale? Additional Promises – READ THROUGH Page 7
  10. 10. LIMITATION OF LIABILITY If home is Vacant, SELLER responsible for insurance And security Broker not responsible for other brokers actions, Other brokers advertising their home online Acts of 3rd parties , freezing water pipes, Property’s Non-compliance with law or ordinances, Seller negligence. Seller to hold broker harmless from any damage, Costs, attorney fees or expenses caused by seller Negligence, seller non-disclosure or seller giving Inaccurate information 16. If seller breaches this listing, liable for commission And other compensation 17. Mediation 18. Attorney Fees 19. Addenda Page 8
  11. 11. Addenda list continued BOLD PRINT –Read Carefully Additional Notices to Seller Fair Housing. Advise seller to get payoff and review MLS info Legal Agreement of Parties – Please READ Page 9
  12. 12. MORE BOLD PRINT! Additional Notices Lock up valuable, drugs and firearms. Consult attorney before planting surveillance Devices. Comply with all statutes and ordinances (pools, fences, etc.). Comply with Lead Based Paint Rules ALL SELLERS AND AGENT SIGN AND DATE!! Is seller a “foreign person?” If so, may be required By IRS to hold back certain amount of proceeds!! Watch out for wire fraud and cyber crime!! We cannot give legal advice. Consult an attorney If needed. Page 10

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