EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT
For and in consideration of the professional services of the undersigned Broker, hereinafter referred to as Broker, the undersigned Owner, hereinafter referred to as Owner, hereby grants Broker the exclusive and irrevocable authorization and right to offer for sale or exchange the real property situated in the
City of _____________________________, County of _____________________________, State of Mississippi, described as: _________________________
_____________________________________________________________________________________________________________, commonly known as:_______________________________________________________________________________________________________________________________, for the purchase price of: $______________________________, or upon any other price and terms acceptable to Owner.1. Owner agrees to pay Broker as compensation for professional services rendered a fee of ____________ percent (_____%) of the gross sales price if:a.) 1.) Broker procures a buyer during the term hereof on the terms specified herein or on any other terms acceptable to Owner.2.) The property is sold, exchanged or otherwise transferred during the term of this agreement, by Owner, or through any other source.3.) Owner prevents Broker from offering said property for sale or exchange.4.) Owner leases, sells, exchanges or otherwise transfers the property within one year after the termination or early termination of this Agreement or any extension thereof to anyone Broker contacted during the term of this Agreement.b.) Any commission or fee due Broker shall be earned and payable upon presentation of a buyer ready, willing and able, at a price and terms acceptable to Owner, although Broker may agree to accept said commission or fee at closing as an accommodation to Owner.c.) Broker understands that circumstances change, and on occasion an Owner will desire to withdraw their property from the market, and/or cancel their listing agreement. When this occurs, at the full discretion of the Broker, the Broker may authorize said withdrawal or cancellation. If Broker authorizes a property to be removed from the market, or listing agreement to be canceled there will be an early termination fee paid to Broker of $425.00 in lieu of above stated compensation. The early termination of this agreement does not relieve Owner of the provisions set forth in this agreement prior to said early termination.2. Broker is hereby authorized to:a.) Offer Buyers’ Brokers cooperation and compensation b.) Participate in and offer disclosed Dual Agency and compensation In utilizing any of the agencies described above, Owner will not be liable for real estate commissions totaling more than the above stated fee.3. Owner authorizes Broker to place his sign on said property, remove all other signs, and advertise the property as Broker deems advisable. Owner authorizes Broker to install an MLS lock box. Owner authorizes Broker, after closing, to publish the sale price of the property to appraisers and other brokers.4. Should any deposit money be forfeited by any prospective buyer, one half of same shall be retained by Broker, providing said amount does not exceed the commission to which Broker would be entitled in such transaction.5. This Exclusive Right to Sell Listing Agreement shall be in effect for 180 days from the date of this agreement. If Owner executes any contract for the sale of the property within the term of this Agreement that will be consummated beyond the term, and that meets one or more of the specific criteria as set out in Paragraph 1, the term shall be extended until the consummation of this sale or the termination of the contract of sale as provided in this Agreement, whichever occurs first.6. Owner agrees to make available to Broker and prospective buyers all records and information pertaining to the property; and to disclose all hidden and visible defects in writing. Owner hereby represents that he is is not aware of any flooding, is is not aware of any foundation or drainage problems with the subject property, is is not aware of any presence of urea formaldehyde insulation, is is not aware of any radon gas, is is not aware of any toxic mold, is is not aware of any asbestos containing material, is is not aware of any form of hazardous material. Owner hereby represents that he is is not aware of any defects of the subject property. Owner agrees to complete a Property Condition Disclosure Statement as required by law and return the completed form to Broker within twenty-four hours after signing this agreement. Owner hereby expressly authorizes Broker to disclose adverse material information regarding the condition of the property or its location to all interested parties. Owner warrants the accuracy of the information furnished regarding the property and agrees to hold Broker harmless from any liability, damage or expense arising out of incorrect or undisclosed information. Owner agrees to notify Broker promptly of any changes which may affect the property or this Agreement. Owner agrees to cooperate with Broker and agrees to commit no act which interferes with Broker’s performance hereunder.7. Owner warrants that he is the owner of the property or has written authority to execute this agreement. Should the property be sold or exchanged, Owner agrees to furnish a current clear termite certificate, a current certificate of title, and convey title by a General Warranty Deed, or leasehold assignment on leasehold property. Should a title examination reveal defects which can be cured, Owner agrees to cure same as expeditiously as possible. Owner agrees to transfer the following personal property, included in the above price, by warranty bill of sale to buyer at closing: ______________________________
___________________________________________________________________________________________________________________________.8. If a dispute arises between Owner and Broker relative to this agreement, both parties agree, (1) to submit such dispute to binding arbitration by the American Arbitration Association in accordance with its arbitration rules; and (2) judgment of the award rendered by the arbitrator(s) will be entered in the Circuit Court of Rankin County; and (3) the arbitration proceeding shall be conducted within Rankin County, Mississippi; and (4) any damages awarded must conform to the terms and conditions of this agreement; and (5) this transaction involves interstate commerce such that the Federal Arbitration Act, 9 U.S.C. Section 1 et seq. (1947 as amended) shall govern the interpretation and enforcement of this arbitration agreement along with all claims between or among any parties and the broker involved in this transaction; and (6) in any action, proceeding or arbitration arising out of this agreement, the prevailing party shall be entitled to reasonable attorney fees and costs limited to $5,000.00 and to be included in the award; and (7) any action at law regarding this agreement must be filed in the Circuit Court of Rankin County.9. Broker represents and warrants that he will further the interests of Owner in accordance with standards exercised by reasonably competent Broker operation in the State of Mississippi. Broker agrees to: (a) view said property and secure information regarding it; (b) advertise the property as Broker deems advisable; (c) make an earnest and continued effort to procure a buyer for said property; and (d) keep Owner informed as to the progress being made toward the consummation of a transaction.10. Owner acknowledges that he has received no legal or tax advice from Broker. Owner understands that Broker is a marketing specialist only. Owner understands further that Broker’s market evaluation of the property is based only on Brokers knowledge of comparable sales, and is not the equivalent of a formal appraisal. Owner hereby acknowledges that Broker has advised Owner of the roles, potential value and functions of other specialists which Owner may require or wish to involve in this transaction, and has encouraged Owner to contact various community references, the telephone directory and local professional associations for information regarding the identity of providers of the services desired and, in addition, has agreed to provide Owner with partial lists of individuals providing services in the categories requested by Owner on the understanding that Broker does not guarantee the quality or reliability of the services provided by individuals included on such lists. These categories include attorneys specializing in real estate, pest control companies, home inspection services, financial or tax consultants, surveyors, engineers, appraisers and mortgage lenders. Broker has no vicarious responsibility for these parties.11. This contract incorporates all prior agreements between the parties, contains the entire and final agreement of the parties, and cannot be changed except by their written consent. Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not herein contained. This agreement shall be governed by the laws of the state of Mississippi. Each party acknowledges that he has read and understands this contract. Gender and number, as herein used, shall be changed as the context may require. Owner hereby acknowledges receipt of a duplicate original of this Agreement.
DATE: ___________________ BROKER: CENTURY 21 Maselle & Associates, by: _______________________________________________DATE: ___________________ OWNER: _________________________________________________________ DATE: ___________________ OWNER: _________________________________________________________
Convey title to (please print): ______________________________________________________________________________________________________
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