Listing Agent Contract for the United Kingdom

Listing Agent Contract Template for United States

A Listing Agent Contract is a legally binding agreement used in the United States between a property owner and a licensed real estate agent or broker. The contract establishes the terms under which the agent will market and sell the property, including commission rates, duration of the listing, marketing strategies, and the responsibilities of both parties. This document must comply with federal real estate laws and state-specific regulations governing real estate transactions.

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What is a Listing Agent Contract?

The Listing Agent Contract serves as the foundational document for establishing a professional relationship between property owners and real estate professionals in the United States. This contract type is essential when property owners wish to engage a licensed real estate agent to market and sell their property. The document outlines crucial elements including commission structures, marketing commitments, listing duration, and specific services to be provided. It ensures compliance with both federal regulations such as RESPA and state-specific real estate laws, while protecting the interests of all parties involved in the listing process.

What sections should be included in a Listing Agent Contract?

1. Parties: Identifies the listing agent/broker and property owner(s)

2. Background: States the owner's intention to sell the property and agent's qualifications

3. Definitions: Defines key terms used throughout the agreement

4. Property Description: Detailed description of the property being listed

5. Listing Price: Agreed listing price and pricing strategy

6. Agent's Rights and Obligations: Details of services to be provided by the agent

7. Owner's Rights and Obligations: Property owner's responsibilities and commitments

8. Commission Structure: Details of compensation and payment terms

9. Term and Termination: Duration of agreement and termination provisions

What sections are optional to include in a Listing Agent Contract?

1. Dual Agency Provisions: Required when agent may represent both seller and buyer in jurisdictions allowing dual agency

2. International Marketing: Specific provisions for international marketing efforts for luxury or unique properties with international appeal

3. Virtual Tours: Requirements for virtual showings and online marketing when digital marketing is a significant component

4. Property Management: Provisions for managing property during listing period, applicable for vacant properties or those requiring management

What schedules should be included in a Listing Agent Contract?

1. Property Details Schedule: Comprehensive property information and specifications

2. Marketing Plan: Detailed marketing strategy and timeline

3. Commission Schedule: Detailed breakdown of commission structures and scenarios

4. Property Disclosure Statement: Owner's disclosure of property condition and known issues

5. Agency Disclosure Form: State-required agency relationship disclosure

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Property Development
Property Management

Relevant Teams

Real Estate Sales
Legal
Operations
Marketing
Compliance

Relevant Roles

Real Estate Agent
Real Estate Broker
Property Manager
Real Estate Attorney
Compliance Officer

Industries

RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and settlement processes

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, disability, and familial status

Truth in Lending Act: Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

Americans with Disabilities Act: Federal law ensuring equal access and prohibiting discrimination against individuals with disabilities in real estate transactions

Sherman Antitrust Act: Federal law prohibiting anti-competitive behavior and monopolistic practices in real estate

Federal Trade Commission Act: Federal law governing unfair or deceptive trade practices in real estate marketing and transactions

State Real Estate License Laws: State-specific regulations governing real estate licensing requirements and professional conduct

State Agency Disclosure Requirements: State-specific rules requiring disclosure of agency relationships between brokers, agents, and clients

State Contract Laws: State-specific laws governing contract formation, enforcement, and remedies

State Consumer Protection Laws: State-specific laws protecting consumers in real estate transactions from unfair or deceptive practices

State Fair Housing Laws: State-specific laws supplementing federal fair housing requirements with additional protected classes or requirements

NAR Code of Ethics: Professional standards and ethical requirements established by the National Association of REALTORSยฎ

State Real Estate Commission Rules: Regulatory framework established by state real estate commissions governing agent conduct and transactions

MLS Rules and Regulations: Multiple Listing Service requirements governing property listings and agent cooperation

Statute of Frauds: Legal requirement that certain contracts, including real estate agreements, must be in writing to be enforceable

Commission Structure Requirements: Legal and regulatory requirements governing how real estate commissions can be structured and disclosed

Dual Agency Regulations: Laws and regulations governing situations where an agent represents both buyer and seller in a transaction

Dispute Resolution Requirements: Legal framework for handling disputes in real estate transactions, including mediation and arbitration provisions

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What is a Listing Agent Contract?

What sections should be included in a Listing Agent Contract?

What sections are optional to include in a Listing Agent Contract?

What schedules should be included in a Listing Agent Contract?

Authors

Alex Denne

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