The Exclusive Property Agent Agreement is a fundamental document in U.S. real estate transactions that establishes a sole agency relationship between property owners and real estate professionals. This agreement is essential when property owners wish to ensure coordinated marketing efforts and clear lines of representation. It provides comprehensive coverage of agent responsibilities, commission structures, marketing commitments, and compliance with both federal and state-specific real estate regulations. The document is particularly important in protecting both parties' interests and establishing clear parameters for the professional relationship.
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1. Parties: Identification of the property owner and the real estate agent/broker
2. Background: Context of the agreement and brief property description
3. Definitions: Key terms used throughout the agreement
4. Appointment and Scope: Terms of exclusive appointment and services to be provided
5. Duration: Term of the agreement including start and end dates
6. Agent's Obligations: Detailed responsibilities and duties of the agent
7. Owner's Obligations: Property owner's responsibilities and commitments
8. Commission Structure: Details of fees, commission rates, and payment terms
9. Termination: Conditions and process for ending the agreement
1. Marketing Budget: Details of marketing expenses and responsibilities when costs are to be shared or specifically allocated
2. Additional Services: Any extra services offered beyond standard scope, used when agent provides premium or additional services
3. International Marketing: Specific provisions for international marketing efforts, used for high-value properties targeting international buyers
4. Sub-Agency: Terms for involving other agents, used when cooperation with other agents is anticipated
1. Property Details Schedule: Detailed description of the property including address, features, and condition
2. Commission Schedule: Detailed breakdown of commission structures and scenarios
3. Marketing Plan: Detailed marketing strategy and timeline
4. Agency Disclosure Form: State-mandated agency relationship disclosure
5. Service Level Agreement: Detailed breakdown of services to be provided
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