The Property Agent Contract serves as the foundation for the professional relationship in real estate transactions within the United States. This document is essential when property owners seek to engage a licensed real estate professional to market, sell, or lease their property. It defines the agent's authority, responsibilities, compensation terms, and duration of representation while ensuring compliance with state-specific real estate laws and federal regulations. The contract protects both parties' interests and provides clear guidelines for the scope of services to be provided.
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1. Parties: Identification of the agent and the property owner/client
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of services to be provided by the agent
5. Commission Structure: Details of compensation and payment terms
6. Duration: Term of the agreement including start and end dates
7. Obligations of the Agent: Specific duties and responsibilities of the property agent
8. Obligations of the Principal: Specific duties and responsibilities of the property owner/client
9. Termination: Conditions and procedures for ending the agreement
10. Governing Law: Specification of applicable laws and jurisdiction
1. Marketing Plan: Specific marketing strategies and commitments for property promotion
2. Multiple Listing Service: Terms related to MLS listing and associated requirements
3. Virtual Tours: Terms related to virtual showings and online marketing services
4. Professional Photography: Terms related to professional photography services and image rights
5. Exclusivity Clause: Terms granting exclusive rights to the agent for property sale/lease
1. Property Details Schedule: Detailed description of the property including address and specifications
2. Commission Schedule: Detailed breakdown of commission structures and scenarios
3. Marketing Materials Appendix: Samples or templates of agreed marketing materials
4. Required Disclosures: State-mandated disclosure forms and documents
5. Service Level Agreement: Detailed breakdown of service standards and response times
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