Property Disclosure Statement – In most States, a seller of a property is required to disclose any material defects. Commonly completed at the time of authorizing the listing agreement. Lead-Based Paint Disclosure – Required to be attached to any purchase agreement per federal law. Verify a Real Estate Agent (State Search)Īgency Disclosure Forms – Required in most States to inform the role of the agent and their duties as an agent.Open Listing Agreement – Allows an agent to sell a property with the condition that if the seller, or other parties, sell the property that the agent is not entitled to a commission. Unfortunately, this practice can lead to unethical issues and is banned in some States (not offered on eForms). For example, the seller says they want $275,000, anything over that amount is the commission to the agent. Net Listing Agreement – A net listing agreement is when the agent’s commission is the excess of funds above a fixed number. By Stateīusiness Listing Agreement – For an entity seeking to sell their business with the assistance of an agent.īuyer Agency Agreement – For an individual interested in purchasing a commercial or residential property.Įxclusive Agency Listing Agreement – The agency is not paid only if the property sells to a buyer not represented by an agent.Įxclusive (Right to Sell) Listing Agreement – Gives an agent the sole right to sell a property on behalf of a seller for a specific time period (usually 6 to 12 months).
If there are two (2) agents involved on each side, the total commission is to be shared (depends on the listing agent how much the other agent will be paid).
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