Fill - Free fillable NORTH DAKOTA PROPERTY LISTING AGREEMENT PDF form

Seller’s Initials - ______ Broker’s Initials - ______

Page 1 of 10

NORTH DAKOTA PROPERTY LISTING AGREEMENT

I. The Parties. This Real Estate Listing Agreement (“Agreement”) made on

____________________, 20____, is between:

Seller: ____________________ (“Seller”) with a mailing address of

____________________________________, City of ____________________, State of

____________________

AND

Agency: ____________________ (“Broker”) of ____________________ (“Agency”) with a

mailing address of ____________________________________, City of

____________________, State of ____________________. Collectively, the Seller and Agency

shall be referred to as the “Parties”.

If for any reason the Broker is not able to fulfill their duties under the terms and conditions of this

Agreement, another agent from the Agency may be appointed during the term of this

Agreement.

II. Real Property. The real property, that is the subject of this Agreement, is located at the

street address of ______________________________________________________________

a.) Legal Description.

Tax Map/Lot: ______/______

Deed Book/Page: ______/______

Other: ______________________________________________________________

b.) Fixtures. The Seller agrees that all fixtures shall be included as part of the sale

EXCEPT: ______________________________________________________________

c.) Personal Property. The Seller agrees that ONLY the following personal property shall

be included as part of the sale: _____________________________________________

The aforementioned real property, personal property, and included fixtures shall be hereinafter

referred to as the “Property”.

Seller’s Initials - ______ Broker’s Initials - ______

Page 2 of 10

III. Rights to Sell. Seller grants Agency: (check one)

☐ - Exclusive Right-to-Sell: The sole and exclusive right to sell, trade, convey, or

exchange the Property during the Listing Period in accordance with the terms and

conditions set forth in this Agreement. Seller hereby appoints Agency as the exclusive

agent and all inquiries made on the Property shall be referred to Agency. Agency shall

be paid the Commission whether or not the Property was sold, directly or indirectly,

through the Agency.

☐ - Exclusive Agency: The exclusive agency right to sell, trade, convey, or exchange

the Property during the Listing Period in accordance with the terms and conditions set

forth in this Agreement. Seller hereby appoints Agency as the exclusive agent and to

represent the Seller as their client ONLY if a potential Buyer is produced by the Agency.

Seller retains the right to sell the Property directly, on their own behalf, with no

commission due to the Agency.

☐ - Open Listing: The general non-exclusive right to sell, trade, convey, or exchange

the Property during the Listing Period in accordance with the terms and conditions set

forth in this Agreement. Seller hereby appoints Agency to represent the Seller as their

client ONLY if a potential Buyer is produced by the Agency. Seller retains the right to sell

the Property directly, on their own behalf, with no commission due to the Agency. In

addition, Seller reserves the right to enter into similar arrangements with other real

estate agents.

IV. Purchase Price. Under the terms of this Agreement, the Seller hereby grants the Agency

rights to sell the Property, including any Personal Property, for the following amount:

_______________________________________ Dollars ($____________________)

(“Purchase Price”).

Seller’s Initials - ______ Broker’s Initials - ______

Page 3 of 10

V. Period of Agreement. This Agreement shall start on ____________________, 20____

(“Effective Date”), and end on ____________________, 20____, at 12:00 midnight (“Listing

Period”), unless the expiration date is extended in writing.

a.) Listing Period Extension. The Commission shall be due if the Property is sold,

conveyed, exchanged, optioned, or otherwise transferred within ____ days (“Extension

Period”) after the expiration of the Listing Period to anyone with whom the Broker or

Agency has negotiated unless the Property is listed, in good faith, with another real

estate agency. The term “negotiation” shall include providing information about the

Property, showing the Property, or presenting an offer on the Property. All rights under

this Section shall terminate upon the expiration of the Extension Period.

VI. Commission. The Agency, as compensation for finding a Buyer that is ready, willing, and

able to purchase the Property upon the terms and conditions mentioned herein or at any price

or terms acceptable to the Seller, shall receive: (check one)

☐ - Percentage (%) Commission: A percentage based on the sales price, as stated in

the purchase contract between the Buyer and Seller, in the amount of

____________________ percent ( ____% ) (“Commission”).

☐ - Fixed Payment Commission: A fixed payment in the amount of

____________________ Dollars ($__________) (“Commission”).

The Commission is due and payable at closing by the Seller. The amount or rate of real estate

commissions is not fixed by law. The commission is set by each Broker individually and may be

negotiable between the Seller and the Broker.

a.) Leasing. During the Listing Period, if the Agency finds a ready, willing, and able Tenant

that agrees to rent the Property, the Agency shall be due ____________________

percent ( ____% ) of the total rent amount stated in the rental agreement for the lease

term. The lease term shall be defined as the period between the start and end dates

listed in the rental agreement, not including any renewal period(s). If the Tenant agrees

to rent the Property on a month-to-month basis, the Agency shall be due the equivalent

of one (1) month’s rent (“Commission”).

b.) Deed Type. Seller agrees to convey the Property by ____________________ deed.

Seller’s Initials - ______ Broker’s Initials - ______

Page 4 of 10

c.) Ready, Willing, and Able Buyer. Under this Agreement, the Commission shall be owed

to the Agency if a ready, willing, and able Buyer is produced and refused by the Seller.

The definition of a ready, willing, and able buyer shall include, but not be limited to, a

purchase contract that meets or exceeds the Purchase Price and does not contain

contingencies or terms that are unreasonable or outside of industry standards. The

Seller has an obligation to negotiate all offers presented by the Agency in “good faith”.

d.) Litigation. If a suit is brought against the Seller to collect compensation provided herein,

or if the Agency successfully defends any action brought against the Broker by Seller

relating to this Agreement or under any purchase contract relating to the Property, and

the Agency prevails, the Seller agrees to pay all costs incurred by Agency in connection

with such action, including reasonable attorneys’ fees.

VII. Cooperation with Other Agents and Agencies. Seller agrees that the Agency may

engage other licensed real estate agents to assist in marketing the Property and may share its

Commission, as determined solely by the Agency. During the Listing Period, should a licensee

represent a Buyer whose offer to purchase the Property is accepted by the Seller, then that

licensee shall be entitled to a commission of ____________________ percent ( ____% )

(“Commission Offered”), provided the Buyer completes the transaction.

VIII. Dual Agency. Due to certain events, the Broker may be required to act as the only

licensee involved between the Seller and a Buyer to facilitate the transaction between the

parties. Under such circumstance, the Broker shall disclose to Seller their intention to act as a

Dual Agent or similar role. If a Buyer is procured by the Broker, or by a licensee in the same

Agency as the Broker, the Seller consents to the Broker acting in such a role and agrees to

allow the Broker to collect compensation from the Buyer or other parties. While performing this

role, Broker agrees to conduct themselves in a manner that does not adversely affect the Seller

or Buyer in any way, including, but not limited to, stating the Seller is willing to sell for a lesser

price than the Purchase Price, stating the Buyer is willing to pay more than an offer that is made

or suggested, or disclosing any type of financial information that would negatively affect the

other party.

Seller’s Initials - ______ Broker’s Initials - ______

Page 5 of 10

Seller has read this Section and fully comprehends and understands the concept of a Dual

Agent under the laws in the State. Dual Agency is permitted in the State of North Dakota under

the requirement the Broker receives written consent from the Buyer and Seller.

IX. Marketing the Property. In an effort to properly and efficiently market the Property, the

Seller grants the following permissions to the Agency: (Initial ALL That Apply)

_______ - Advertise the Property.

_______ - To use the Property’s street address when advertising the Property.

_______ - Allow third (3

) party websites to create estimated market values of the

Property.

_______ - Allow the Agency to disclose the existence of other offers on the

Property.

_______ - Publish any and all Property information electronically or in print. This

includes, but is not limited to, the Multiple Listing Service (MLS), real estate websites,

newspapers, etc.

_______ - Place a lockbox or key box on the Property. The Seller shall hold harmless

the Agency and all cooperating licensees from all responsibility and liability resulting

from any loss, damage, or theft which might occur while the Property is listed by the

Agency under this Agreement.

_______ - Authorize a “For Sale” Sign on the Property.

_______ - Photographic Services. Seller hereby authorizes the Agency to take interior

and exterior photos and videos of the Property (“Photographic Services”). Such

photographs and videos shall be permitted to be digitized, reproduced, published,

transmitted, and/or disseminated and displayed in any form or manner, including, but not

limited to, Multiple Listing Services, television, internet marketing, publications, and any

other means to advertise the Property to aid in the marketing of the Property. Seller

agrees to limit the use of the photos or videos generated from the Photographic Services

to personal use and may not be used for commercial purposes.

a.) Waiver of Liability. Seller hereby waives, acquits, and forever releases, and

agrees to defend and hold harmless, the Agency, its officer(s), director(s),

employee(s), contractor(s), associate(s), and representative(s) from any

Seller’s Initials - ______ Broker’s Initials - ______

Page 6 of 10

responsibility or liability whatsoever concerning any photos or videos generated

from the Photographic Services or their distribution.

X. Agency Disclosure. Seller recognizes that, under this Agreement, a relationship has been

established between the Seller and Agency. The Agency’s policy regarding other agents,

specifically those not represented by the Agency, includes, but is not limited to, cooperating with

other agencies acting as Buyer’s agents, sharing compensation with Buyer’s agents, and paying

other agencies in the same manner representing their Buyers. The Seller shall be required to

read and sign the Disclosure of Agency Relationships under the laws of North Dakota.

XI. Non-Refundable Payments. If the Seller accepts non-refundable payment(s) from a

prospective Buyer through a purchase contract, and said Buyer does not complete the purchase

of the Property, such non-refundable payment(s) shall be distributed equally between the Seller

and the Agency up to the commission amount the Agency would have collected if the Property

had sold under the agreed upon terms. If the Property is sold afterward to the same or different

Buyer, the Agency shall be entitled to a Commission less payments received under this Section.

XII. Fair Housing. The Agency is committed to compliance with all laws as well as the

philosophy of fair housing for all people. The Agency will present the Property to all prospective

Buyers in compliance with local, State, and Federal Fair Housing laws against discrimination on

the basis of race, color, religion, sex, national origin, handicap, age, marital status and/or

familial status, children, or other prohibited factors.

XIII. Ownership. Seller warrants and acknowledges to be the owner of the Property and that no

other individuals or entities have title. Seller has the authority as owner to execute this

Agreement and sell the Property.

XIV. Multiple Listing Service (MLS). Due to rules administered by the local Multiple Listing

Service (“MLS”), all details of any transaction that are procured by the Agency may be used for

publication in the MLS. Seller hereby consents to such publication on an unrestricted basis

whereas the Agency must comply with all applicable MLS rules to allow data about the Property

to be shown and made available by the MLS in addition to other internet websites. MLS rules

generally provide that any property entered into its database be updated within forty-eight (48)

Seller’s Initials - ______ Broker’s Initials - ______

Page 7 of 10

hours, or some other period of time, after all necessary signatures have been obtained in regard

to the Property. Seller has the right to prohibit any and all publication of information in regard to

a transfer of the Property. In order to exercise this right, the Seller is required to authorize a

separate addendum provided by the Agency and attach to this Agreement.

XV. Seller Acknowledgments. Seller represents, warrants, and guarantees that the Seller has

complete authority to sell the Property and convey title. Seller has personally reviewed this

Agreement, including any Property Disclosure Statement and any other addendums, exhibits, or

attachments relating to the description and physical condition of the Property were provided by

the Seller and are accurate and complete to the best of the Seller’s knowledge.

a.) Other Acknowledgments. Seller acknowledges, unless otherwise stated in this

Agreement or other written statement, that the Seller is unaware of the following:

I. Any type of default that has been recorded against the Property;

II. Any type of financial delinquency which used the Property as security;

III. Any type of bankruptcy or insolvency involving the Seller or affecting the

Property; and

IV. Any type of mediation, arbitration, litigation, or any proceeding where an

institution, public or private, has action pending against the Property which

includes the Seller’s ability to sell the Property.

Seller agrees to notify the Agency immediately if any of the aforementioned issues

should arise during the Listing Period.

XVI. Broker’s Duties. Broker agrees to exercise all reasonable efforts while providing a

fiduciary duty to act in the best interests of the Seller. Broker shall market the Property to the

best of their abilities in order to achieve the highest sales price feasible for the Seller. Broker

shall make all attempts to transfer the Property to a qualified Buyer and shall follow-up with

every effort to ensure such result is to the benefit of the Seller.

XVII. Seller’s Duties. Seller agrees to make a reasonable effort to accommodate the Broker,

including, but not limited to, open houses, showings, Buyer appointments, inspections, testing,

and any other requests regarding the use of the Property. When receiving offers, the Seller

agrees, in good faith, to consider all proposals, letters, or similar contracts presented by the

Seller’s Initials - ______ Broker’s Initials - ______

Page 8 of 10

Broker. Seller shall be the only party responsible for determining the Purchase Price or any

price for the sale of the Property.

XVIII. Legal Signature. This Agreement may be executed and delivered by any party herein by

sending a facsimile of the signature or by a legally recognized digital or electronic signature.

Such legal signature shall be binding on the party so executing it upon receipt of signature by

the other party.

XIX. Indemnification. Seller agrees to indemnify the Agency and hold harmless from any and

all claims, which may lead to a dispute, due to any false information provided. Such

indemnification shall include the Seller’s reimbursement to the Agency for any attorneys’ fees

arising from any dispute brought against the Agency.

XX. Earnest Money. Seller authorizes the Agency to handle Buyer’s funds and deposit in an

escrow account in accordance with State law (“Earnest Money”). Agency is authorized to act as

a third (3

) party when accepting or holding, on the Seller’s behalf, deposits made on behalf of a

prospective Buyer. In the event a counteroffer is not accepted, the Earnest Money shall be

returned to the Buyer without a signed release. If a purchase contract is signed and accepted by

the Buyer and Seller without a closing or transfer and recording of the deed, a separate mutual

release signed by the Buyer and Seller will be required before the Earnest Money is disbursed.

In the event of a disagreement by either the Buyer or Seller in regard to the release of Earnest

Money, the Agency must withhold its release until there is mutual agreement or an order has

been administered of proper jurisdiction.

XXI. Seller Property Condition Disclosure. In accordance with North Dakota law, it is required

that the Seller complete the Property Disclosure Statement. The Seller agrees to complete and

provide information to the best of their ability with true, factual, and accurate information. The

Agency shall be required to disclose any information provided in the Property Disclosure

Statement to any prospective Buyer or their agent including facts that may materially affect the

value of the Property.

a.) Property Condition. Seller hereby authorizes the Agency and all cooperating

licensees to disclose to a prospective Buyer, to the extent as required by law, any

defects known to them, latent or otherwise. Seller acknowledges that licensees do

Seller’s Initials - ______ Broker’s Initials - ______

Page 9 of 10

not have the responsibility to discover latent defects on the Property or to advise on

matters outside the scope of their licenses.

XXII. Lead-Based Paint. The Seller represents that, to the best of their knowledge, the

structure on the Property or any portion thereof, was not constructed before January 1, 1978.

Seller acknowledges that, if the residence was constructed prior to January 1, 1978, there is a

requirement to provide any Buyer an EPA-approved lead hazard information pamphlet making

certain disclosures regarding the presence of any known lead-based paint or other lead-based

paint hazards on the Property, unless the Buyer waives their rights in writing. If any structure

was constructed prior to January 1, 1978, the Buyer shall have a ten (10) day period to conduct

a risk assessment or inspection of the Property to seek any presence of lead-based paint or any

lead-based paint hazards.

XXIII. Insurance. Seller agrees to maintain hazard or other insurance, current as of the

Effective Date, during the course of this Agreement until the Property is sold.

XXIV. Other Clients. Seller acknowledges that the Broker may or may not have other clients

with similar property characteristics as the Seller. Broker shall not favor any client’s property

over the Seller’s Property for any reason.

XXV. Binding Effect. This Agreement shall be binding upon the Seller’s successors, assigns,

heirs, and beneficiaries.

XXVI. Dispute Resolution. Any dispute arising from this Agreement shall be required to be

resolved by binding arbitration of the Parties hereto. If the Parties cannot agree on an arbitrator,

each party shall select one arbitrator, and both arbitrators shall select a third (3

) to handle the

dispute. The arbitration shall be governed by the rules of the American Arbitration Association in

full force and effect.

XXVII. Governing Law. This Agreement shall be governed under the laws located in the State

of North Dakota.

Seller’s Initials - ______ Broker’s Initials - ______

Page 10 of 10

XXVIII. Severability. This Agreement shall remain in effect in the event a section or provision is

unenforceable or invalid. All remaining sections and provisions shall be deemed legally binding

unless a court rules that any such provision or section is invalid or unenforceable, thus, limiting

the effect of another provision or section. In such case, the affected provision or section shall be

enforced as so limited.

XXIX. Additional Terms and Conditions. __________________________________________

____________________________________________________________________________

XXX. Entire Agreement. This Agreement constitutes the entire agreement between the Seller

and the Agency and supersedes all prior discussions, negotiations, and agreements between

the Parties whether oral or written. Any understanding, agreement, or promise not specified

herein, whether expressed or implied, shall bind neither Seller nor Agency.

This Agreement is intended to be the legal and binding agreement of the Seller and Broker. The

Fill Online, Printable, Fillable, Blank NORTH DAKOTA PROPERTY LISTING AGREEMENT Form

Related forms

Fillable NORTH DAKOTA PROPERTY LISTING AGREEMENT

Fill Online, Printable, Fillable, Blank NORTH DAKOTA PROPERTY LISTING AGREEMENT Form

Related forms

First 20 documents completely FREE!