Fillable Form 11: Exclusive Right of Sale Listing Agr (Highlight Realty)

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Form 11: Exclusive Right of Sale Listing Agr (Highlight Realty)

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Exclusive Right of Sale Listing Agr
eement
®
1
This Exclusive Right of Sale Listing Agr
eement (“Agreement”) is between
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_______________________________________________________________________________________________ (“Seller”) and
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__________________________________________________________________________________________________(“Broker”).
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1. AUTHORITY TO SELL PROPERTY: Seller gives Broker the EXCLUSIVE RIGHT TO SELL the real and personal property
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(collectively “Property”) described below, at the price and terms described below, beginning the _________ day of
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______________________, _______, and terminating at 11:59 p.m. the _________ day of ________________________, _______
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(“Termination Date”). Upon full execution of a contract for sale and purchase of the Property, all rights and obligations of this
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Agreement will automatically extend through the date of the actual closing of the sales contract. Seller and Broker
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acknowledge that this Agreement does not guarantee a sale. This Property will be offered to any person without regard to
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race, color, religion, sex, handicap, familial status, national origin or any other factor protected by federal, state or local law.
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Seller certifies and represents that he/she/it is legally entitled to convey the Property and all improvements.
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2. DESCRIPTION OF PROPERTY:
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(a) Real Property Street Address: ____________________________________________________________________________
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_________________________________________________________________________________________________________
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Legal Description: _________________________________________________________________________________________
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__________________________________________________________________________ ❏ See Attachment _____________
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(b) Personal Property, including appliances: ___________________________________________________________________
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_________________________________________________________________________________________________________
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__________________________________________________________________________ ❏ See Attachment _____________
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(c) Occupancy: Property ❏ is ❏ is not currently occupied by a tenant. If occupied, the lease term
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expires_______________.
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3. PRICE AND TERMS: The property is offered for sale on the following terms, or on other terms acceptable to Seller:
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(a) Price: ____________________________
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(b) Financing Terms: ❏ Cash ❏ Conventional ❏ VA ❏ FHA ❏ Other _____________________________________________
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❏ Seller Financing: Seller will hold a purchase money mortgage in the amount of $______________________ with the
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following terms: ___________________________________________________________________________________________
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❏ Assumption of Existing Mortgage: Buyer may assume existing mortgage for $__________________________ plus an
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assumption fee of $_____________________. The mortgage is for a term of __________ years beginning in __________, at
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an interest rate of _____________% ❏ fixed ❏ variable (describe) _________________________________________________.
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Lender approval of assumption ❏ is required ❏ is not required ❏ unknown. Notice to Seller: You may remain liable for an
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assumed mortgage for a number of years after the Property is sold. Check with your lender to determine the extent of your
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liability. Seller will ensure that all mortgage payments and required escrow deposits are current at the time of closing and
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will convey the escrow deposit to the buyer at closing.
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(c) Seller Expenses: Seller will pay mortgage discount or other closing costs not to exceed ______% of the purchase
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price; and any other expenses Seller agrees to pay in connection with a transaction.
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4. BROKER OBLIGATIONS AND AUTHORITY: Broker agrees to make diligent and continued efforts to sell the Property
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until a sales contract is pending on the Property. Seller authorizes Broker to:
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(a) Advertise the Property as Broker deems advisable in newspapers, publications, computer networks, including the
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Internet and other media; place appropriate transaction signs on the Property, including “For Sale” signs and “Sold” signs
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(once Seller signs a sales contract); and use Seller’s name in connection with marketing or advertising the Property;
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(b) Obtain information relating to the present mortgage(s) on the Property.
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(c) Place the property in a multiple listing service(s) (MLS). Seller authorizes Broker to report to the MLS/Association of
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Realtors
®
this listing information and price, terms and financing information on any resulting sale. Seller authorizes Broker,
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the MLS and/ or Association of Realtors
®
to use, license or sell the active listing and sold data.
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(d) Provide objective comparative market analysis information to potential buyers; and
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(e) (Check if applicable) ❏ Use a lock box system to show and access the Property. A lock box does not ensure the
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Property’s security; Seller is advised to secure or remove valuables. Seller agrees that the lock box is for Seller’s benefit
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and releases Broker, persons working through Broker and Broker’s local Realtor Board /Association from all liability and
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responsibility in connection with any loss that occurs. ❏ Withhold verbal offers. ❏ Withhold all offers once Seller accepts a
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sales contract for the Property.
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(f) Act as a transaction broker.
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5. SELLER OBLIGATIONS: In consideration of Broker’s obligations, Seller agrees to:
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(a) Cooperate with Broker in carrying out the purpose of this Agreement, including referring immediately to Broker all
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inquiries regarding the Property’s transfer, whether by purchase or any other means of transfer.
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(b) Provide Broker with keys to the Property and make the Property available for Broker to show during reasonable times.
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(c) Inform Broker prior to leasing, mortgaging or otherwise encumbering the Property.
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Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 1 of 3 Pages.
ERS-11tbx Rev. 10/06 © 2006 Florida Association of REALTORS
®
All Rights Reserved
__________________________ _________________________________ _________________________________
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(d) To indemnify Broker and hold Broker harmless from losses, damages, costs and expenses of any nature,
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including attorney’s fees, and from liability to any person, that Broker incurs because of (1) Seller’s negligence,
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representations, misrepresentations, actions or inactions, (2) the use of a lock box, (3) the existence of undisclosed material
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facts about the Property, or (4) a court or arbitration decision that a broker who was not compensated in connection with a
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transaction is entitled to compensation from Broker. This clause will survive Broker’s performance and the transfer of title.
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(e) To perform any act reasonably necessary to comply with FIRPTA (Internal Revenue Code Section 1445).
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(f) Make all legally required disclosures, including all facts that materially affect the Property’s value and are not readily
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observable or known by the buyer. Seller represents there are no material facts (building code violations, pending code
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citations, unobservable defects, etc.) other than the following: ____________________________________________________
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_________________________________________________________________________________________________________
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Seller will immediately inform Broker of any material facts that arise after signing this Agreement.
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(g) Consult appropriate professionals for related legal, tax, property condition, environmental, foreign reporting
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requirements and other specialized advice.
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6. COMPENSATION: Seller will compensate Broker as specified below for procuring a buyer who is ready, willing and able
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to purchase the Property or any interest in the Property on the terms of this Agreement or on any other terms acceptable to
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Seller. Seller will pay Broker as follows (plus applicable sales tax):
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(a) _____________% of the total purchase price OR $_________________________, no later than the date of closing specified
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in the sales contract. However, closing is not a prerequisite for Broker’s fee being earned.
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(b) _____________ ($ or %) of the consideration paid for an option, at the time an option is created. If the option is exercised,
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Seller will pay Broker the paragraph 6(a) fee, less the amount Broker received under this subparagraph.
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(c) _____________ ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or agreement to lease, whichever
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is soonest. This fee is not due if the Property is or becomes the subject of a contract granting an exclusive right to lease the Property.
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(d) Broker’s fee is due in the following circumstances: (1) If any interest in the Property is transferred, whether by sale, lease,
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exchange, governmental action, bankruptcy or any other means of transfer, regardless of whether the buyer is secured by
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Broker, Seller or any other person. (2) If Seller refuses or fails to sign an offer at the price and terms stated in this
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Agreement, defaults on an executed sales contract or agrees with a buyer to cancel an executed sales contract. (3) If, within
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__________ days after Termination Date (“Protection Period”), Seller transfers or contracts to transfer the Property or any
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interest in the Property to any prospects with whom Seller, Broker or any real estate licensee communicated regarding the
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Property prior to Termination Date. However, no fee will be due Broker if the Property is relisted after Termination Date and
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sold through another broker.
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(e) Retained Deposits: As consideration for Broker’s services, Broker is entitled to receive __________% of all deposits
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that Seller retains as liquidated damages for a buyer’s default in a transaction, not to exceed the paragraph 6(a) fee.
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7. COOPERATION AND COMPENSATION WITH OTHER BROKERS: Broker’s office policy is to cooperate with all other
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brokers except when not in Seller’s best interest: ❏ and to offer compensation in the amount of _____________% of the
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purchase price or $_____________ to Buyer’s agents, who represent the interest of the buyers, and not the interest of Seller
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in a transaction; ❏ and to offer compensation in the amount of _____________% of the purchase price or $_____________
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to a broker who has no brokerage relationship with the Buyer or Seller; ❏ and to offer compensation in the amount of
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____________% of the purchase price or $_____________ to Transaction brokers for the Buyer; ❏ None of the above (if this is
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checked, the Property cannot be placed in the MLS.)
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8. BROKERAGE RELATIONSHIP:
TRANSACTION BROKER NOTICE
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As a transaction broker, ________________________________________________ and its associates, provides to you a limited
form of representation that includes the following duties:
1. Dealing honestly and fairly;
2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction;
4. Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer;
5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise
in writing;
6. Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the seller will
accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written
offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than
those offered, or of any other information requested by a party to remain confidential; and
7. Any additional duties that are entered into by this or by separate written agreement.
Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parties are
giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to
facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one
party to the detriment of the other party when acting as a transaction broker to both parties.
Date Signature Signature
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Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 2 of 3 Pages.
ERS-11tbx Rev. 10/06 © 2006 Florida Association of REALTORS
®
All Rights Reserved
118
9. CONDITIONAL TERMINA
TION: At Seller’s request, Broker may agree to conditionally terminate this Agreement. If
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Broker agrees to conditional termination, Seller must sign a withdrawal agreement, reimburse Broker for all direct expenses
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incurred in marketing the Property and pay a cancellation fee of $_______________ plus applicable sales tax. Broker may
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void the conditional termination and Seller will pay the fee stated in paragraph 6(a) less the cancellation fee if Seller transfers
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or contracts to transfer the Property or any interest in the Property during the time period from the date of conditional
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termination to Termination Date and Protection Period, if applicable.
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10. DISPUTE RESOLUTION: This Agreement will be construed under Florida law. All controversies, claims and other matters in
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question between the parties arising out of or relating to this Agreement or the breach thereof will be settled by first attempting
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mediation under the rules of the American Arbitration Association or other mediator agreed upon by the parties. If litigation arises out
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of this Agreement, the prevailing party will be entitled to recover reasonable attorney’s fees and costs, unless the parties agree that
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disputes will be settled by arbitration as follows: Arbitration: By initialing in the space provided, Seller (_____) (_____), Listing
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Associate (_____) and Listing Broker (_____) agree that disputes not resolved by mediation will be settled by neutral binding
130 arbitration in the county in which the Property is located in accordance with the rules of the American Arbitration Association or other
131 arbitrator agreed upon by the parties. Each party to any arbitration or litigation (including appeals and interpleaders) will pay its own
132 fees, costs and expenses, including attorney’s fees, and will equally split the arbitrators’ fees and administrative fees of arbitration.
133 11. MISCELLANEOUS: This Agreement is binding on Broker’s and Seller’s heirs, personal representatives, administrators,
134 successors and assigns. Broker may assign this Agreement to another listing office. Signatures, initials and modifications
135 communicated by facsimile will be considered as originals. The term “buyer” as used in this Agreement includes buyers,
136 tenants, exchangors, optionees and other categories of potential or actual transferees.
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12. ADDITIONAL TERMS:
138* ___________________________________________________________________________________________________________
139* ___________________________________________________________________________________________________________
140* ___________________________________________________________________________________________________________
141* ___________________________________________________________________________________________________________
142* ___________________________________________________________________________________________________________
143* ___________________________________________________________________________________________________________
144* ___________________________________________________________________________________________________________
145* ___________________________________________________________________________________________________________
146* ___________________________________________________________________________________________________________
147* ___________________________________________________________________________________________________________
148* ___________________________________________________________________________________________________________
149* ___________________________________________________________________________________________________________
150* ___________________________________________________________________________________________________________
151* ___________________________________________________________________________________________________________
152* ___________________________________________________________________________________________________________
153* ___________________________________________________________________________________________________________
154* ___________________________________________________________________________________________________________
155* Date: ________________ Seller’s Signature: ______________________________ Tax ID No: __ __ __ - __ __ - __ __ __ __
156* Telephone #’s: Home__________________ Work__________________ Cell__________________ Fax:__________________
157* Address:________________________________________________________________________E-mail: _____________________
158* Date: ________________ Seller’s Signature: ______________________________ Tax ID No: __ __ __ - __ __ - __ __ __ __
159* Telephone #’s: Home__________________ Work__________________ Cell__________________ Fax:__________________
160* Address:________________________________________________________________________E-mail: _____________________
161* Date: _______________ Authorized Listing Associate or Broker: _________________________________________________
162* Brokerage Firm Name: ______________________________________________________ Telephone: _______________________
163* Address: ___________________________________________________________________________________________________
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Copy returned to Customer on the _____ day of ________________, ______ by: ❏ personal delivery ❏ mail ❏ E-mail ❏ facsimile.
The copyright laws of the United States (17 U.S. Code) forbid the unauthorized reproduction of this form by any means including facsimile or computerized forms.
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Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 3 of 3 Pages.
ERS-11tbx Rev. 10/06 © 2006 Florida Association of REALTORS
®
All Rights Reserved
h
transaction fee upto $495.00 charged
at time of closing ,this is not a commission ,it is a closing cost .
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Form 11: Exclusive Right of Sale Listing Agr (Highlight Realty)

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Completed 19 January 2021

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