ADDvantage® Real Estate Network United States Flat Fee Multiple Listing Service (MLS) Agreement to List and Maintain Real Properties
ADDvantage PLUS™ Flat Fee Listing Exclusive Right of Sale Listing Agreement
This is a sample listing agreement. Any commissions, bonuses, dates, etc that are shown will be changed based on data input by the seller during the sign-up process.
This Exclusive Right of Sale Listing Agreement ("Agreement") is between ("SELLER") and ADDvantage® Real Estate Network ("Listing Broker").
1) Authority to Sell Property:
SELLER gives BROKER the EXCLUSIVE RIGHT TO SELL the real and personal property (collectively "Property") described below, at the price and terms described below, beginning the 10th day of December , 2016 , (or date of MLS Listing Entry) and terminating at 11:59 p.m. the 10th day of December , 2017 (or 12 months from listing start date) (“Termination Date”). Upon full execution of a contract for sale and purchase of the Property, all rights and obligations of this Agreement will automatically extend through the date of the actual closing of the sales contract.
SELLER and Listing Broker acknowledge that this Agreement does not guarantee a sale.
This Property will be offered to any person without regard to race, color, religion, sex, handicap, familial status, national origin or any other factor protected by federal, state, or local law.
SELLER certifies and represents that he/she/it is legally entitled to convey the Property and all improvements.
2) Description of Property:
A) Real Property Street Address:
B) Legal Description:
C) Personal property included:
D) Occupancy: Property (is) (is not) currently occupied by a tenant. If occupied, the lease term expires Additional Lease Information:
3) Price and Terms:
The property is offered for sale on the following terms, or on other terms acceptable to SELLER:
A) Price: Price includes all fixtures, personal property defined above, and major appliances except:
B) Financing Terms:
C) SELLER Expenses: SELLER will pay any expenses SELLER agrees to pay in connection with a transaction.
4) Broker Obligation and Authority:
Listing Broker agrees to make diligent and continued efforts to sell the Property until a sales contract is pending on the Property.
SELLER authorizes Listing Broker to:
A) Contract-to-close: ) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) agrees to do the following as apart of the ADDvantage PLUS™ Flat Fee Listing program:
i) Upon receipt of an offer(s) from a Realtor® or buyer's agent (in behalf of buyer), ADDvantage® Real Estate Network will forward offer(s) to SELLER by email or fax and call SELLER to confirm receipt of such offer(s).
ii) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) will arrange a time convenient to SELLERS to discuss offer and what actions should be considered.
iii) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) will request Realtor® or buyer's agent (on behalf of buyer) to provide SELLER with a “pre-approval” letter from mortgage banker, broker or major lender.
iv) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) will negotiate all offers, counter offers, and attempt to execute a final contract to the best of our ability.
v) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) will assist SELLER with choosing a title agent and send such title company a fully executed sales contract.
vi) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) will assist, cooperate, and facilitate the closing process with all parties (to the best of our ability) including Realtor®/buyer's agent, property inspectors, property appraisers, and Title Company.
vii) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) will request HUD settlement statement from title company prior to closing, send a copy to SELLER and review HUD with SELLER.
viii) Broker for ADDvantage® Real Estate Network (or agent assigned by Broker to handle SELLER's account) should not be relied upon or held responsible for the following: to be physically present at property inspections, property appraisals, closing or arrange or be held responsible for delivery of keys.
B) Advertise the Property as Listing Broker deems advisable in newspapers, publications, computer networks, including the Internet and other media; place appropriate transaction signs on the Property, including "For Sale" signs and "Contract Pending" signs (once SELLER signs a sales contract); and use SELLER's name in connection with marketing or advertising the Property;
C) Obtain information relating to the present mortgage(s) on the Property.
D) Place the Property in a Multiple Listing Service(s) (MLS). SELLER authorizes Listing Broker to report to the MLS/Association of Realtors® this listing information and price, terms and financing information on any resulting sale. SELLER authorizes Listing Broker, the MLS and/or Association of Realtors® to use, license, or sell the active listing and sold data.
E) Listing Broker will make available to SELLER (Supra $179 or Master $24.99) a lock box system to show and access the Property. A lock box does not ensure the Property's security; SELLER is advised to secure or remove valuables. SELLER agrees that the lock box is for the SELLER's benefit and releases Listing Broker, persons working through Listing Broker and Listing Broker's local Realtor® Board/Association from all liability and responsibility in connection with any loss that occurs.
F) Act as a transaction broker.
All leads received from any source will be managed and recorded in SELLER's account by the following protocol:
i) Following the showing instructions as provided by SELLER
ii) Call SELLER and confirm appointments as instructed by the showing instructions in SELLER account
iii) Emailing SELLER a confirmation of all scheduled showings
iv) All leads will be documented in SELLER account under “Buyer Leads” section, located within MY ACCOUNT.
H) Listing Changes:
i) SELLER is limited to 3 price changes per 30 day period (at no additional charge), in an effort to comply with local MLS board rules that track and limit excessive price changes as a means of triggering MLS “hot sheet” reports.
Changes must be made in the following increments(based on current listing price):
a) Less than $100,000, minimum price change: $500
b) $100,000 to $250,000, minimum price change: $1,000
c) Above $250,000, minimum price change: $2,500
ii) Any changes to listing, other than price and commission, will be limited to one round of changes* per 30 day period at no additional cost to SELLER.
iii) Any additional requests for changes beyond the one free round of changes per 30 day period (Item above), will be charged to SELLER at $20 per round of changes.
* SELLER can make as many changes as necessary at no charge (one time per 30 day period) BUT must complete all change requests at the same time.
5) Seller Obligations:
In consideration of Listing Broker's obligations, SELLER agrees to:
A) Cooperate with Listing Broker in carrying out the purpose of this Agreement, including referring immediately to Listing Broker all inquires regarding the Property's transfer, whether by purchase or any other means of transfer.
B) SELLER responsible for all showings unless SELLER elects use of lockbox and engages Agent Activate®. SELLER further agrees to provide agents/brokers access to the Property or make the Property available for showing during reasonable times as indicated according to showing instructions set forth in property listing form:
C) Inform Listing Broker prior to leasing, mortgaging, or otherwise encumbering the Property.
D) Consult appropriate professionals for legal, tax, zoning, permitting, square footage, property condition or size, environmental, foreign reporting requirements and other specialized advice (SELLER acknowledges that Listing Broker and its salespersons are not qualified or authorized to give such advice and, if given, SELLER shall not rely in any way on such advice); and
E) Make all legally required disclosures, including all facts that may materially affect the Property's value and are not readily observable or known by the buyer. SELLER represents and warrants that
i) SELLER knows of no such material facts except those expressly set forth in the SELLER's Real Property Disclosure Statement, and
ii) there are no prior listings, sale or other agreements affecting the Property that have not been lawfully terminated.
SELLER agrees to:
A) Indemnify Listing Broker and hold Listing Broker harmless from losses, damages, costs and expenses of any nature, including attorney's fees, and from liability to any person, that Listing Broker incurs because of
i) SELLER's negligence, representations, misrepresentations, actions or inaction,
ii) any loss or theft relating to the use of a lock box or form SELLER's failure to remove or secure valuables,
iii) the existence of undisclosed material facts about the Property, or
iv) a court or arbitration decision that a broker who was not compensated in connection with a transaction is entitled to compensation from Broker. This clause will survive Listing Broker's performance and the transfer of title.
B) Perform any act reasonably necessary to comply with FIRPTA (Internal Revenue Code Section 1445).
C) Make all legally required disclosures, including all facts that materially affect the Property's value and are not readily observable or known by the buyer.
D) Immediately inform Listing Broker of any material facts that arise after signing this Agreement.
E) If at any time Broker (ADDvantage® Real Estate Network or it agents and employees) should become liable to SELLER or buyer by virtue of the Contract or the transactions contemplated by it, such Broker liability shall be limited to a sum not to exceed the flat fee MLS payment received or the commission received by such Broker as a result of this contract or Transaction, whichever is greater; and this sum shall be complete and exclusive. Broker shall pay all costs incurred in any enforcement action.
7) Third Party Vendors:
As a courtesy, Listing Broker may provide SELLER with one or more names of service providers including but not limited to, inspectors, engineers, contractors, repairpersons, or attorneys that other consumers have used or of whom we are aware.
The providing of such names shall not in any way be construed to be a recommendation or endorsement of, nor is Listing Broker warrant the work of, any of the named providers.
The final choice of any service provider rests solely with SELLER and SELLER is free to choose any provider, whether the name appears on any list or not.
SELLER agrees to hold Listing Broker harmless from any and all claims or losses that in any way arise out of, or relate to, the selection or use of any such service provider.
A) SELLER's ONLY compensation to ADDvantage® Real Estate Network for this service is a flat fee of Not Available and $799 at close.
B) Additional commission will be due at closing to another agent/broker as specified (9) for procuring a buyer who is ready, willing, and able to purchase the Property or any interest in the Property on the terms of this Agreement or on any other terms acceptable to SELLER. If property is sold by agent/broker other than Listing Broker (9), SELLER agrees to pay 3% (chosen by seller during sign-up) of the total purchase price (9) and a bonus of $0 .
C) Per United States Statutes, the Listing Broker is responsible to pay co-brokerage fees on behalf of the SELLER. Therefore, commissions are due in the following circumstances: (1) If SELLER refuses or fails to sign an offer at the price and terms stated in this Agreement, defaults on an executed sales contract or agrees with a buyer to cancel an executed sales contract.
D) Retained Deposits: As consideration for Listing Broker's services, Listing Broker is entitled to receive 50% of all deposits that SELLER retains as liquidated damages for a buyer's default in a transaction, not to exceed the co-broke commission (9).
9) Cooperation and Compensation with Other Brokers:
Listing Broker agrees to cooperate with all other brokers and to:
A) offer Buyer's agent compensation in the amount of 3% (chosen by seller during sign-up) of the purchase price and a bonus of $0 to Buyer's agents who represent the interest of the buyers and not the interest of the SELLER in a transaction;
B) offer compensation in the amount of 3% (chosen by seller during sign-up) of the purchase price and a bonus of $0 to a broker who has no brokerage relationship with the Buyer; and
C) offer compensation in the amount of 3% (chosen by seller during sign-up) of the purchase price and a bonus of $0 to Transaction brokers for the Buyer; only one total commission to be paid to any agent representing a buyer.
The SELLER may elect to use Agent Activate® service.
As described on the website (http://www.getmoreoffers.com/agent-activate.asp), a lockbox must be used to turn on Agent Activate®.
If SELLER elects to use the Agent Activate® service, An ADDvantage® agent or one of its Agent-Activate® affiliates will show SELLER's property to unrepresented buyers.
SELLER agrees to compensate such agent or affiliate at a commission rate of 3% (chosen by seller during sign-up) if the showing results in a sale.
If another outside broker procures a sale other than a ADDvantage® agent or one of its Agent-Activate® affiliates, then SELLER agrees to pay the 3% (chosen by seller during sign-up) co-brokerage commission (9).
BROKER will charge Buyer's Agent an Administration Fee, paid at closing, thus reducing the commission SELLER offers Buyer's Agent. For homes listed for less than $60,000, there is NO Administration fee.
For home listed for less than $200,000, the Administration Fee is $199; for homes listed for $200,000 or more, the Administration Fee is $299.
If property is sold without a Buyer's Agent then BROKER waives the Administration Fee.
SELLER(s), please initial here: ; ; ; .
At SELLER's request, Listing Broker will unconditionally terminate this Agreement and SELLER will pay NO CANCELLATION FEE.
SELLER may not cancel this agreement if an executed sales contract is in effect.
11) Title Insurance:
BROKER offers SELLER the option to use our affiliated Title Company, New Frontier Title, LLC. By signing this listing agreement, you are NOT committing to use New Frontier Title, LLC as your title company.
A) In Florida, SELLER customarily controls and pays for title policy (promulgated by the State of Florida $5.75/$1000 of sales prices) and also by protocol SELLER pays for State of Florida documentary stamps on deed ($0.70/$100 of sales price) except in Collier, Broward, Sarasota, and Miami-Dade Counties, where the buyer may be responsible for title policy.
B) Before closing, SELLER is usually required to provide evidence of clear title to the new buyer and lender. A title search and the resulting title insurance assures buyers and lenders that there are no liens on the property and identifies the balances, if any, of existing mortgages. By controlling title, the SELLER also can often control buyer's escrow utilizing New Frontier Title, LLC's escrow account to hold these buyer escrow funds. To achieve this, have the buyer's agent on page 1 of the Purchase and Sales Agreement (contract) enter (required field on the contract) New Frontier Title, LLC, 2515 1st Ave N, St. Petersburg, FL 33713 phone: 877-544-6447 fax: 888-652-6326 email: email@example.com . New Frontier Title, LLC is bonded & insured; underwriter is Old Republic Title Insurance Company and Alliant National Title Insurance Company.
Advantages for your consideration about using New Frontier Title, LLC
As your listing broker, there may be advantages for you to choose New Frontier Title, LLC as your preferred title company such as:
i) Often, the buyer's agent may suggest allowing them to choose the title company which may put you at a disadvantage with information flow as the title company may have a disposition favorable to the buyer;
ii) By controlling title, the SELLER also can often control buyer's escrow utilizing New Frontier Title, LLC's escrow account to hold these buyer escrow funds. To achieve this, have the buyer's agent on page 1 of the Purchase and Sales Agreement (contract) enter (required field on the contract) New Frontier Title, LLC, 2515 1st Ave N, St. Petersburg, FL 33713 phone: 877-544-6447 fax: 888-652-6326 email: firstname.lastname@example.org . New Frontier Title, LLC is bonded & insured; underwriter is Old Republic Title Insurance Company and Alliant National Title Insurance Company
This Agreement is binding on BROKER's and SELLER's heirs, personal representatives, administrators, and successors.
Signatures, initials, and modifications communicated by facsimile will be considered as originals.
The term BUYER as used in this Agreement includes buyers, tenants, exchangors, optionees and other categories of potential or actual transferees.
The term BROKER includes Broker's sales associates and employees.
Time is of the essence.
Paragraphs 9, 10, 14, and 16 shall survive the termination or expiration of this Agreement.
Should it be found that a member posts comments on the Internet about BROKER or ADDvantage Real Estate Network, LLC/GetMoreOffers.com or any of its employees, associates, partners, or affiliates (“Company”) via social media or other at any time during or subsequent to Agreement period that are defamatory; misleading, untruthful, half-truths, or false statements regarding their experience with Company, SELLER agrees to be bound by the process of arbitration (FS Chapter 682 “arbitration” and American Arbitration Association guidelines and practices). Should SELLER be found liable for defamation through the process of arbitration, BROKER will be automatically awarded $5,000 from SELLER/former SELLER as liquidated damages and SELLER will be required to remove post(s) or be fined $500 per day until removed.
14) Dispute Resolution:
This agreement will be construed under United States law.
All controversies, claims, and other matters in question between the parties arising out of or relating to this Agreement or the breach thereof will be settled by first attempting mediation under the rules of the American Arbitration Association or other mediator agreed upon by the parties.
Arbitration: SELLER and BROKER agree that disputes not resolved by mediation will be settled by neutral binding arbitration in the county in which the Property is located in accordance with the rules of the American Arbitration Association or other arbitrator agreed upon by the parties.
Each party to any arbitration or litigation (including appeals and interpleaders) will pay its own fees, costs and expenses, including attorney's fees, and will equally split the arbitrators' fee and administrative fees of arbitration.
15) Governing Law, Venue, and Waiver of Jury Trial:
This agreement will be construed under United States law.
In the event of litigation or arbitration involving BROKER in any way arising out of or relating to this Agreement, the Property, or relationship created hereunder, venue shall be exclusively in County, United States.
BROKER and SELLER hereby knowingly and voluntarily waives any right to trial by jury in any litigation.
In the event that one or more provisions in this Agreement are deemed invalid, the remaining provisions will remain in full force and affect.
17) Entire Agreement:
This Agreement sets forth the entire agreement between SELLER and BROKER and may only be modified in writing signed by SELLER and BROKER.
This Agreement may be executed in counterparts and via facsimile.
If any provision herein is or becomes invalid or unenforceable, all remaining provisions shall remain fully effective.
18) Additional Terms:
Any notice, request, demand, consent, or other communication required to be given pursuant to this AGREEMENT shall be in writing to the address set forth below:
ADDvantage® Real Estate Network
2515 1st Ave N St. Petersburg, FL 33713
20) SELLER Acceptance of Agreement:
All persons or entities authorized to sell this property and/or have ownership interest must sign this agreement and including those persons duly authorized to act as representatives for the SELLER and such persons having certified that they are legally authorized to enter into this agreement.
If you do not fully understand this contract, consult an attorney before you sign it.
By signing below, SELLER understands and agrees to all of the terms and conditions of this Agreement and acknowledges receipt of a copy within 24 hours of acceptance by BROKER.
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