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Contract Employing Real Estate Broker
For Sale Of Property
This agreement dated _________(1)__________,
is made By and Between ________(2)_________, whose address is
_________(3)___________, referred to as "Owner", AND
___________(4)_________, whose address is ________(5)__________,
referred to as "Broker."
1. Property. Owner is the owner of the following real estate:
(Address or Legal Description)
2. Employment of Broker. Owner lists this property for sale
with the Broker at the price of $______(6)____ or at any other
price which is satisfactory to Owner. The listing to sell
means that the Broker shall be entitled to commissions as
herein provided no matter who procures the buyer.
3. Commission. Owner agrees to pay the Broker a commission
of ___(7)__ percent (%) of the purchase price. The commission
will be earned when all of the following conditions are met:
(a) the Broker produces a buyer ready, willing and able to
buy on the terms fixed by Owner, (b) the buyer enters into
a binding contract of sale, and (c) the buyer completes the
transaction by closing title in accordance with the contract
of sale. If the buyer is unable, unwilling or defaults in
the purchase, Owner will not be required to pay any commission
to the broker.
4. Other Brokers. Owner authorizes and directs that the Broker
submit the above listing to all multiple listing services
available in this area. The amount of the commission set forth
in this agreement shall be divided among all Brokers involved
in accordance with agreements between the Brokers.
5. Advertisement. The Broker and the other Brokers noted
above are authorized to advertise the sale and take all necessary
steps to bring about the sale.
6. Signs. The Broker will provide suitable sign or signs,
subject to Owner's approval.
7. Term of Agreement. This agreement shall remain effective
until __________(8)________, unless terminated prior thereto.
8. Termination. Either party may terminate this contract
on twenty (20) days notice. Such termination shall not limit
the Brokers right to commissions resulting from pending negotiations.
9. Signatures. Both the Broker and Owner agree to the above.
The information in this document is designed to provide an
outline that you can follow when formulating business or personal
plans. Due to the variances by many local, city, county and
state laws, we recommend that you seek professional legal
counseling before entering into any contract or agreement.
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