Selling Agency Agreement Residential Exclusive Agency Template for United States

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Key Requirements PROMPT example:

Selling Agency Agreement Residential Exclusive Agency

"I need a Selling Agency Agreement Residential Exclusive Agency for my 4-bedroom house in California, with a 6-month exclusive period starting January 15, 2025, including specific digital marketing requirements and a tiered commission structure based on the final sale price."

Document background
The Selling Agency Agreement Residential Exclusive Agency is essential when property owners want to establish a professional relationship with a single real estate agency while retaining the right to sell their property independently. This document is commonly used throughout the United States and must comply with both federal regulations (such as RESPA and the Fair Housing Act) and state-specific real estate laws. It typically includes detailed terms about marketing strategies, commission structures, property access arrangements, and the duration of the exclusive agency relationship. The agreement protects both the agency's interests in marketing the property and the owner's right to find a buyer independently.
Suggested Sections

1. Parties: Identification of the property owner and the real estate agency

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

4. Appointment and Authority: Terms of exclusive agency appointment and scope of authority

5. Duration: Term of the agreement including start and end dates

6. Agent's Obligations: Duties and responsibilities of the real estate agent

7. Owner's Obligations: Duties and responsibilities of the property owner

8. Commission Structure: Details of fees, commission rates, and payment terms

9. Termination: Conditions and process for ending the agreement

Optional Sections

1. Marketing Plan: Detailed marketing strategy and activities to be undertaken by the agent

2. Digital Marketing Rights: Terms for online marketing, social media usage, and digital content rights

3. Property Access: Specific terms and conditions for accessing and showing the property

Suggested Schedules

1. Property Details Schedule: Detailed description of the property including fixtures and fittings

2. Commission Rate Schedule: Detailed breakdown of commission structures and scenarios

3. Marketing Schedule: Detailed marketing plan and budget if applicable

4. Property Disclosure Statement: Required disclosures about property condition and known issues

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Industries

RESPA (Real Estate Settlement Procedures Act): Federal law governing real estate transactions, requiring specific disclosures and regulating kickbacks and referral fees in real estate settlements

Fair Housing Act: Federal legislation prohibiting discrimination in real estate transactions and ensuring equal treatment of all potential buyers based on protected characteristics

Truth in Lending Act: Federal law mandating disclosure requirements for financial terms, particularly relevant when financing is involved in real estate transactions

Americans with Disabilities Act (ADA): Federal law ensuring accessibility considerations and non-discrimination requirements in real estate transactions for persons with disabilities

State Real Estate Commission Rules: State-specific regulations governing licensing requirements, mandatory disclosures, and commission structures for real estate transactions

State-specific Real Estate Laws: State laws governing agency relationships, disclosure requirements, and specific contract requirements for real estate transactions

State Consumer Protection Laws: State regulations protecting consumers from unfair business practices, requiring specific disclosures, and establishing cooling-off periods

Local Real Estate Board Rules: Local regulations establishing standard forms, practices, and specific requirements for the local real estate market

Municipal Regulations: Local government rules regarding zoning requirements and property restrictions that affect real estate transactions

Multiple Listing Service (MLS) Rules: Industry-specific regulations governing listing requirements and compensation structures for real estate listings

State Contract Law: State-specific laws governing contract formation, enforcement provisions, and termination clauses in real estate agreements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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