ADDvantage® Real Estate Services
Flat Fee Multiple Listing Service (MLS) Agreement to List and Maintain Real Properties
ADDvantage Success™ Flat Fee Listing Exclusive Right of Sale Listing Agreement
This Exclusive Right of Sale Listing Agreement ("Agreement") is between ("SELLER") and ADDvantage® Real Estate Services ("Listing Broker").
1) AUTHORITY TO SELL PROPERTY:
SELLER gives Listing Broker the EXCLUSIVE RIGHT TO SELL the real and personal property (collectively "Property") described below, at the price and terms described below, beginning the 16 day of March , 2010 , (or date of payment received) and terminating when property sells, or agreement cancelled ("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:
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) LISTING 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 Services (or agent assigned by Broker to handle seller's account) agrees to do the following as apart of the ADDvantage Success™ 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 Services 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 Services (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 Services (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 Services (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 Services (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 Services (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 Services (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 Services (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 $39.95) 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.
G) LEADS:
All leads received from any source, will be forwarded to SELLER 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) Email SELLER a confirmation of all scheduled showings
All leads will be documented in your account under “Buyer Leads” section, located within MY ACCOUNT.
H) Live Phone Support
ADDvantage® Real Estate Services agrees to offer SELLER live phone support from 8AM-8PM, 7 days per week.
ADDvantage® Real Estate Services agrees to offer SELLER live phone support from 8AM-8PM, 7 days per week.
I) Signs
It is our recommendation to display an ADDvantage yard sign because it appeals to both buyers seeking FSBO properties & Realtors/agents. The ADDvantage Real Estate Sign has a space provided for SELLER's phone number that can be hand written into our proprietary sign. This appeals to the potential "FSBO" buyer, indicating that the property is a For Sale By Owner, while also acknowledging to the agents that a co-broke commission is being offered.
It is our recommendation to display an ADDvantage yard sign because it appeals to both buyers seeking FSBO properties & Realtors/agents. The ADDvantage Real Estate Sign has a space provided for SELLER's phone number that can be hand written into our proprietary sign. This appeals to the potential "FSBO" buyer, indicating that the property is a For Sale By Owner, while also acknowledging to the agents that a co-broke commission is being offered.
J) Sign Permits and Size Restrictions:
It is the SELLER's responsibility to confirm the appropriate yard sign dimensions with the local governing authorities as well as the possibility of restrictions being placed on sign usage by a homeowner's association. Some municipalities require the SELLER to obtain a sign permit. The ADDvantage standard yard size is 18” x 24”. If you require a different size, please enter the sign dimensions that meet the above restrictions: x .
It is the SELLER's responsibility to confirm the appropriate yard sign dimensions with the local governing authorities as well as the possibility of restrictions being placed on sign usage by a homeowner's association. Some municipalities require the SELLER to obtain a sign permit. The ADDvantage standard yard size is 18” x 24”. If you require a different size, please enter the sign dimensions that meet the above restrictions: x .
K) Listing Changes
i) SELLER is limited 3 price changes per 30 day period 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.
ii) Any changes to listing other than price and commission will be limited to one round of changes* per month at no additional cost to SELLER.
iii) Any additional requests for changes beyond the one free round of changes per month (Item 2 above) will be charged to SELLER at $20 per round of changes, per board**.
* This means you can make as many changes as necessary at no charge (one time per month) BUT must request all changes at the same time.
** Some listings are in more than one MLS board; therefore the changes must be made in all boards, hence $20 per board.
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 Realtor® showings unless SELLER elects use of lockbox in which case ADDvantage® Real Estate Services will follow the showing instructions per seller instructions. 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.
6) INDEMNIFICATION:
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 Services 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.
8) COMPENSATION:
SELLER(s), please initial here: ; ; ; .
A) SELLER agrees to compensation to ADDvantage® Real Estate Services of $699 as an “upfront” fee for this service.
B)
ADDvantage® Real Estate Services may be compensated the offered commission of 0.0% if ADDvantage® Real Estate Services procures a BUYER for property.
C) SELLER agrees to compensation to ADDvantage® Real Estate Services of $699 as a “transaction fee” at closing if property is sold and closed by an agent not associated with ADDvantage® Real Estate Services.
D) SELLER will NOT be charged the $699 “transaction fee” should one of ADDvantage® Real Estate Services's agents or local affiliates (Agent Activates®) earn the offered buyer's agent commission of 0.0% .
E) SELLER may sell property to an unrepresented buyer. In which case, SELLER will not pay the offered buyer's agent commission 0.0% but agrees to pay the $699 “transaction fee” to ADDvantage® Real Estate Services.
F)
The SELLER has elected to use Agent Activate® service.
As described on the website (http://www.getmoreoffers.com/agent_activate.asp).
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 0.0% 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 ADDvantage® Real Estate Services at transaction fee of $699 at closing as compensation for contract-to-close advice and assistance from broker.
SELLER(s), please initial here: ; ; ; .
9) COOPERATION AND COMPENSATION WITH OTHER BROKERS:
Listing Broker agrees to cooperate with all other brokers and to:
A) Per Florida 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.
B) Additional commission may be due at closing to another agent/broker as specified 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, seller agrees to pay 0.0% of the total purchase price.
C) offer Buyer's agent compensation in the amount of 0.0% of the purchase price to Buyer's agents who represent the interest of the buyers and not the interest of the SELLER in a transaction;
D) offer compensation in the amount of 0.0% of the purchase price to a broker who has no brokerage relationship with the Buyer; and
E) offer compensation in the amount of 0.0% of the purchase price to Transaction brokers for the Buyer; only one total commission to be paid to any agent representing a buyer.
F) 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 compensation otherwise due under this agreement.
10) TERMINATION:
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) DISPUTE RESOLUTION:
This agreement will be construed under Florida 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 Listing 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
12) GOVERNING LAW, VENUE, AND WAIVER OF JURY TRIAL:
This agreement will be construed under Florida law.
In the event of litigation involving Broker in any way arising out of or relating to this Agreement, the Property, or relationship created hereunder, venue shall be exclusively in Pinellas County, Florida.
LISTING BROKER AND SELLER HEREBY KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY LITIGATION.
13) MISCELLANEOUS:
This Agreement is binding on Listing Broker's and SELLER's heirs, personal representatives, administrators, successors, and assigns.
Listing Broker may assign this Agreement to another listing office or affiliated office.
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.
For purposes of paragraphs 6, 7 and 12 the term “Listing Broker” includes Listing Broker's sales associates and employees.
Time is of the essence.
Paragraphs 6, 7, 12 and 14 shall survive the termination or expiration of this Agreement.
14) ENTIRE AGREEMENT:
This Agreement sets forth the entire agreement between SELLER and Listing Broker and may only be modified in writing signed by SELLER and Listing 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.
16) SELLER ACCEPTANCE OF AGREEMENT:
This is intended to be a binding contract.
Neither Listing Broker nor its representatives make any representations as to the legal effect or tax consequences of this Agreement or the transactions contemplated herein.
This agreement may be assigned to an affiliate of ADDvantage Real Estate Network for placement in the MLS and MLS listing maintenance.
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 Listing Broker.
I am the
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Signature: Date:
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I am the
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Signature: Date:
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Signature: Date:
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* Describe your position (owner, partner, president, V.P., attorney, power of attorney, other)
17) BROKERAGE RELATIONSHIP: TRANSACTION BROKER NOTICE
As a transaction broker, ADDvantage® Real Estate Services / Keith R. Gordon and associates, provides to you a limited form of representation that includes the following duties:
i) Dealing honestly and fairly;
ii) Accounting for all funds;
iii) Using skill, care, and diligence in the transaction;
iv) Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer;
v) Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing;
vi) Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the SELLER will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a SELLER or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential; and
vii) Any additional duties that are entered into by this or by separate written agreement. Limited representation means that a buyer or SELLER is not responsible for the act of this licensee. Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the SELLER, but a licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parties.
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