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