The Florida Listing Agreement is a legal document that establishes a formal relationship between a seller and a broker, granting the broker the exclusive right to sell the seller's property. This agreement outlines the responsibilities and obligations of both parties, including the terms of sale and marketing strategies. For those looking to sell property in Florida, completing this form is a crucial step in the process; click the button below to get started.
The Florida Listing Agreement is a crucial document for anyone looking to sell property in the Sunshine State. This agreement establishes a partnership between the seller and the broker, granting the broker exclusive rights to sell the property. It outlines important details such as the property's description, the listing price, and the terms of sale, ensuring both parties are on the same page. The agreement also includes provisions for marketing the property, including the use of multiple listing services (MLS) to reach a wider audience. Additionally, it highlights the responsibilities of both the seller and the broker, setting clear expectations for cooperation and communication throughout the selling process. Notably, the document emphasizes compliance with fair housing laws, protecting sellers from discrimination claims. With all these elements combined, the Florida Listing Agreement serves as a comprehensive guide to navigating the property selling journey, providing clarity and structure for both sellers and brokers alike.
Exclusive Right of Sale Listing Agreement
1This Exclusive Right of Sale Listing Agreement (“Agreement”) is between
2 ("Seller")
3 and
("Broker").
41. Authority to Sell Property: Seller gives Broker the EXCLUSIVE RIGHT TO SELL the real and personal
5property (collectively “Property”) described below, at the price and terms described below, beginning
6 ____________________ and terminating at 11:59 p.m. on ____________________ (“Termination Date”). Upon
7full execution of a contract for sale and purchase of the Property, all rights and obligations of this Agreement will
8automatically extend through the date of the actual closing of the sales contract. Seller and Broker acknowledge
9that this Agreement does not guarantee a sale. This Property will be offered to any person without regard to race,
10color, religion, sex, handicap, familial status, national origin, or any other factor protected by federal, state, or local
11law. Seller certifies and represents that she/he/it is legally entitled to convey the Property and all improvements.
122. Description of Property:
13
(a) Street Address:
14
15
Legal Description:
16
____________________________________________________
See Attachment
17
(b) Personal Property, including appliances:
18
19(c) Occupancy:
20
Property
is
is not currently occupied by a tenant. If occupied, the lease term expires ______________.
213. Price and Terms: The property is offered for sale on the following terms or on other terms acceptable to Seller:
22
(a)
Price: $
____________________
23
(d)
Financing
Terms:
Cash
Conventional
VA
FHA
Other (specify)
in the amount
Seller Financing: Seller will hold a purchase money mortgage
24
of $
25
with the following terms:
26
Assumption of Existing
Mortgage: Buyer may assume existing mortgage for $
___________________
plus
27
an assumption fee of $____________________. The mortgage is for a term of
______ years beginning in
28
, at an interest
rate of
%
fixed
variable (describe)
.
______
_____________________________
29
Lender
approval of assumption
required
is not required
unknown. Notice to Seller: (1) You may
30remain liable for an assumed mortgage for a number of years after the Property is sold. Check with your
31lender to determine the extent of your liability. Seller will ensure that all mortgage payments and required
32escrow deposits are current at the time of closing and will convey the escrow deposit to the buyer at closing.
33(2) Extensive regulations affect Seller financed transactions. It is beyond the scope of a real estate licensee’s
34authority to determine whether the terms of your Seller financing agreement comply with all applicable laws or
35whether you must be registered and/or licensed as a loan originator before offering Seller financing. You are
36advised to consult with a legal or mortgage professional to make this determination.
37 (e) Seller Expenses: Seller will pay mortgage discount or other closing costs not to exceed ______% of the
38purchase price and any other expenses Seller agrees to pay in connection with a transaction.
394. Broker Obligations: Broker agrees to make diligent and continued efforts to sell the Property in accordance with
40this Agreement until a sales contract is pending on the Property.
415. Multiple Listing Service: Placing the Property in a multiple listing service (the “MLS”) is beneficial to Seller
42because the Property will be exposed to a large number of potential buyers. As a MLS participant, Broker is
43obligated to enter the Property into the MLS within one (1) business day of marketing the Property to the public
44(see Paragraph 6(a)) or as necessary to comply with local MLS rule(s). This listing will be published accordingly in
45the MLS unless Seller directs Broker otherwise in writing. (See paragraph 6(b)(i)). Seller authorizes Broker to
46report to the MLS this listing information and price, terms, and financing information on any resulting sale for use
47by authorized Board / Association members and MLS participants and subscribers unless Seller directs Broker
48otherwise in writing.
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 1 of 4.
ERS-18tb Rev 5/20
© 2020 Florida Realtors®
496. Broker Authority: Seller authorizes Broker to:
50(a) Market the Property to the Public (unless limited in Paragraph 6(b)(i) below):
51(i) Public marketing includes, but is not limited to, flyers, yard signs, digital marketing on public facing
52
websites, brokerage website displays (i.e. IDX or VOW), email blasts, multi-brokerage listing sharing
53
networks and applications available to the general public.
54(ii) Public marketing also includes marketing the Property to real estate agents outside Broker’s
55office.
56(iii) Place appropriate transaction signs on the Property, except if Paragraph 6(b)(i) is checked below.
57(iv) Use Seller’s name in connection with marketing or advertising the Property.
58
Display the Property on the Internet except the street address.
59(b) Not Publicly Market to the Public/Seller Opt-Out:
60
(i.)
Seller does not authorize Broker to display the Property on the MLS.
61(ii.) Seller understands and acknowledges that if Seller checks option 6(b)(i), a For Sale sign will not be
62placed upon the Property and
63(iii.) Seller understands and acknowledges that if Seller checks option 6(b)(i), Broker will be limited to
64marketing the Property only to agents within Broker’s office.
65________/__________ Initials of Seller
66(c) Obtain information relating to the present mortgage(s) on the Property.
67(d) Provide objective comparative market analysis information to potential buyers.
68
(e) (Check if applicable)
Use a lock box system to show and access the Property. A lock box does not
69ensure the Property’s security. Seller is advised to secure or remove valuables. Seller agrees that the lock
70box is for Seller’s benefit and releases Broker, persons working through Broker, and Broker’s local Realtor
71Board / Association from all liability and responsibility in connection with any damage or loss that occurs.
72
Withhold verbal offers.
Withhold all offers once Seller accepts a sales contract for the Property.
73(f) Act as a transaction broker.
74(g) Virtual Office Websites: Some real estate brokerages offer real estate brokerage services online. These
75websites are referred to as Virtual Office Websites (“VOWs”). An automated estimate of market value or
76reviews and comments about a property may be displayed in conjunction with a property on some VOWs.
77Anyone who registers on a VOW may gain access to such automated valuations or comments and reviews
78about any property displayed on a VOW. Unless limited below, a VOW may display automated valuations or
79comments and reviews about this Property.
80
Seller does not authorize an automated estimate of the market value of the listing (or a hyperlink to such
81estimate) to be displayed in immediate conjunction with the listing of this Property.
82
Seller does not authorize third parties to write comments or reviews about the listing of the Property (or
83display a hyperlink to such comments or reviews) in immediate conjunction with the listing of this Property.
847. Seller Obligations: In consideration of Broker’s obligations, Seller agrees to:
85(a) Cooperate with Broker in carrying out the purpose of this Agreement, including referring immediately to
86Broker all inquiries regarding the Property’s transfer, whether by purchase or any other means of transfer.
87(b) Recognize Broker may be subject to additional MLS obligations and potential penalties for failure to comply
88with them.
89(c) Provide Broker with keys to the Property and make the Property available for Broker to show during
90reasonable times.
91(d) Inform Broker before leasing, mortgaging, or otherwise encumbering the Property.
92(e) Indemnify Broker and hold Broker harmless from losses, damages, costs, and expenses of any nature,
93including attorney’s fees, and from liability to any person, that Broker incurs because of (1) Seller’s
94negligence, representations, misrepresentations, actions, or inactions; (2) the use of a lock box; (3) the
95existence of undisclosed material facts about the Property; or (4) a court or arbitration decision that a broker
96who was not compensated in connection with a transaction is entitled to compensation from Broker. This
97clause will survive Broker’s performance and the transfer of title.
98(f) Perform any act reasonably necessary to comply with FIRPTA (Section 1445 of the Internal Revenue Code).
99(g) Make all legally required disclosures, including all facts that materially affect the Property’s value and are not
100readily observable or known by the buyer. Seller certifies and represents that Seller knows of no such
101material facts (local government building code violations, unobservable defects, etc.) other than the following:
102
______________________________________________________________________________________
103Seller will immediately inform Broker of any material facts that arise after signing this Agreement.
104(h) Consult appropriate professionals for related legal, tax, property condition, environmental, foreign reporting
105requirements, and other specialized advice.
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 2 of 4.
1068. Compensation: Seller will compensate Broker as specified below for procuring a buyer who is ready, willing,
107and able to purchase the Property or any interest in the Property on the terms of this Agreement or on any other
108terms acceptable to Seller. Seller will pay Broker as follows (plus applicable sales tax):
109 (a) __________% of the total purchase price plus $____________________ OR $____________________, no
110later than the date of closing specified in the sales contract. However, closing is not a prerequisite for Broker’s
111fee being earned.
112 (b) __________ ($ or %) of the consideration paid for an option, at the time an option is created. If the option is
113exercised, Seller will pay Broker the Paragraph 8(a) fee, less the amount Broker received under this
114subparagraph.
115 (c) __________ ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or
116agreement to lease, whichever is earlier. This fee is not due if the Property is or becomes the subject of a
117contract granting an exclusive right to lease the Property.
118(d) Broker’s fee is due in the following circumstances: (1) If any interest in the Property is transferred, whether by
119sale, lease, exchange, governmental action, bankruptcy, or any other means of transfer, regardless of whether
120the buyer is secured by Seller, Broker, or any other person. (2) If Seller refuses or fails to sign an offer at the
121price and terms stated in this Agreement, defaults on an executed sales contract, or agrees with a buyer to
122
cancel an executed sales contract. (3) If, within ______ days after Termination Date (“Protection Period”),
123Seller transfers or contracts to transfer the Property or any interest in the Property to any prospects with whom
124Seller, Broker, or any real estate licensee communicated regarding the Property before Termination Date.
125However, no fee will be due Broker if the Property is relisted after Termination Date and sold through another
126broker.
127 (e) Retained Deposits: As consideration for Broker’s services, Broker is entitled to receive ______% (50% if
128left blank) of all deposits that Seller retains as liquidated damages for a buyer’s default in a transaction, not to
129exceed the Paragraph 8(a) fee.
1309. Cooperation with and Compensation to Other Brokers: Notice to Seller: The buyer’s broker, even if
131compensated by Seller or Broker, may represent the interests of the buyer. Broker’s office policy is to cooperate
132with all other brokers except when not in Seller’s best interest and to offer compensation in the amount of
133
% of the purchase price or $
to a single agent for the buyer;
% of the
_______________
134
purchase
price or $_______________ to a transaction broker for the buyer; and
______% of the purchase
price or $
to a broker who has no brokerage relationship with
buyer.
135
the
136
None
of the above. (If this
is checked, the Property cannot be placed in the MLS.)
13710. Brokerage Relationship: Broker will act as a transaction broker. Broker will deal honestly and fairly; will account
138for all funds; will use skill, care, and diligence in the transaction; will disclose all known facts that materially affect
139the value of the residential property which are not readily observable to the buyer; will present all offers and
140counteroffers in a timely manner unless directed otherwise in writing; and will have limited confidentiality with
141Seller unless waived in writing.
14211. Conditional Termination: At Seller’s request, Broker may agree to conditionally terminate this Agreement. If
143Broker agrees to conditional termination, Seller must sign a withdrawal agreement, reimburse Broker for all direct
144 expenses incurred in marketing the Property, and pay a cancellation fee of $____________________ plus
145applicable sales tax. Broker may void the conditional termination, and Seller will pay the fee stated in Paragraph
1468(a) less the cancellation fee if Seller transfers or contracts to transfer the Property or any interest in the Property
147during the time period from the date of conditional termination to Termination Date and Protection Period, if
148applicable.
14912. Dispute Resolution: This Agreement will be construed under Florida law. All controversies, claims, and other
150matters in question between the parties arising out of or relating to this Agreement or the breach thereof will be
151settled by first attempting mediation under the rules of the American Mediation Association or other mediator
152agreed upon by the parties. If litigation arises out of this Agreement, the prevailing party will be entitled to recover
153reasonable attorney’s fees and costs, unless the parties agree that disputes will be settled by arbitration as follows:
Arbitration: By initialing in the space provided, Seller
154
(____)
(____), Sales Associate (____), and Broker (____)
155agree that disputes not resolved by mediation will be settled by neutral binding arbitration in the county in which
156the Property is located in accordance with the rules of the American Arbitration Association or other arbitrator
157agreed upon by the parties. Each party to any arbitration (or litigation to enforce the arbitration provision of this
158Agreement or an arbitration award) will pay its own fees, costs, and expenses, including attorney’s fees, and will
159equally split the arbitrator’s fees and administrative fees of arbitration.
16013. Miscellaneous: This Agreement is binding on Seller’s and Broker’s heirs, personal representatives,
161administrators, successors, and assigns. Broker may assign this Agreement to another listing office. This
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 3 of 4.
162Agreement is the entire agreement between Seller and Broker. No prior or present agreements or representations
163will be binding on Seller or Broker unless included in this Agreement. Electronic signatures are acceptable and
164will be binding. Signatures, initials, and modifications communicated by facsimile will be considered as originals.
165The term “buyer” as used in this Agreement includes buyers, tenants, exchangors, optionees, and other categories
166of potential or actual transferees.
167 14. Additional Terms: __________________________________________________________________________
168______________________________________________________________________________________________
169______________________________________________________________________________________________
170______________________________________________________________________________________________
171______________________________________________________________________________________________
172______________________________________________________________________________________________
173______________________________________________________________________________________________
174______________________________________________________________________________________________
175______________________________________________________________________________________________
176______________________________________________________________________________________________
177______________________________________________________________________________________________
178______________________________________________________________________________________________
179______________________________________________________________________________________________
180
Seller’s Signature:
Date:
_______________________
181
Home Telephone:
Work Telephone:
Facsimile: ___________________
182
Address:
183
Email Address:
184
Date: _______________________
Facsimile:
185
186
187
Authorized Sales Associate or Broker:
_______________________________
188
Brokerage Firm Name:
Telephone:
189
_____________________________________________
190
191
Copy returned to Seller on
by
email
facsimile
mail
personal delivery.
_____________________
Florida REALTORS® makes no representation as to the legal validity or adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as REALTOR®. REALTOR® is a registered collective membership mark which may be used only be real estate licensees who are members of the NATIONAL ASSOICATION OF REALTORS® and who subscribe to its Code of Ethics. The copyright laws of United States (17 U.S. Code) forbid the unauthorized reproduction of this form by any means including facsimile or computerized forms.
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 4 of 4.
Filling out the Florida Listing Agreement form is an important step in the process of selling your property. Once you complete the form, you can move forward with your real estate broker to market your property effectively. Here’s how to fill it out step-by-step.
What is the Florida Listing Agreement form?
The Florida Listing Agreement is a legal document that establishes a relationship between a seller and a broker. This agreement grants the broker the exclusive right to sell the property specified within the document. It outlines the responsibilities of both the seller and the broker, including the terms of sale, the property description, and the duration of the agreement.
What does "Exclusive Right to Sell" mean?
The term "Exclusive Right to Sell" indicates that the broker has the sole authority to market and sell the property. This means that even if the seller finds a buyer independently, the broker is still entitled to a commission. This arrangement often incentivizes the broker to invest more effort into selling the property.
How long does the agreement last?
The duration of the agreement is specified within the document. It begins on a certain date and ends at 11:59 p.m. on a predetermined termination date. If a sales contract is executed before the termination date, the agreement automatically extends until the closing of that sale.
What are the seller's obligations under this agreement?
The seller agrees to cooperate with the broker, provide access to the property for showings, and inform the broker of any changes regarding the property. The seller must also disclose any material facts that could affect the property's value. This cooperation is essential for the broker to effectively market and sell the property.
What are the broker's responsibilities?
The broker is responsible for making diligent efforts to sell the property according to the terms of the agreement. This includes marketing the property, placing it in a Multiple Listing Service (MLS), and reporting any relevant information regarding the sale. The broker must act in the best interest of the seller while adhering to applicable laws and regulations.
What is a Multiple Listing Service (MLS)?
The MLS is a database used by real estate brokers to share listings with one another. By listing a property in the MLS, the seller gains exposure to a larger pool of potential buyers. The broker is obligated to enter the property into the MLS within one business day of marketing it to the public unless the seller requests otherwise.
What happens if the property does not sell before the termination date?
If the property does not sell by the termination date, the seller may choose to relist the property with the same broker or another broker. However, if a buyer who was previously shown the property makes an offer within a specified protection period after the termination date, the broker may still be entitled to a commission.
What should I do if I have concerns about the agreement?
If you have any concerns or questions regarding the Florida Listing Agreement, it is advisable to consult with a legal professional or a qualified real estate agent. They can provide guidance tailored to your specific situation and help ensure that your interests are protected throughout the selling process.
Can I make changes to the agreement?
Yes, modifications can be made to the agreement, but both the seller and the broker must agree to any changes. It is essential to document any modifications in writing to avoid misunderstandings in the future. Always ensure that both parties sign off on any changes to maintain clarity and enforceability.
Filling out the Florida Listing Agreement form can be a straightforward process, but mistakes can lead to complications down the line. One common error is failing to provide a clear and complete description of the property. This includes not only the street address but also the legal description and any personal property that is included in the sale. Missing details can create confusion and may even lead to disputes later on, especially if the buyer expects certain items to be included in the sale.
Another frequent mistake involves overlooking the financing terms. Sellers often neglect to specify the financing options available, such as whether they will accept cash, conventional loans, or seller financing. This omission can limit the pool of potential buyers and may result in missed opportunities. Clearly outlining financing options helps to set expectations and streamline the selling process.
In addition, many sellers fail to understand the implications of the multiple listing service (MLS) section. Some may choose to opt out of MLS listings without fully grasping the consequences. Opting out can significantly reduce exposure to potential buyers, impacting the sale price and time on the market. It is crucial to weigh the benefits of MLS participation against the desire for privacy before making this decision.
Lastly, sellers often do not consult with professionals regarding their obligations and rights under the agreement. This includes understanding the implications of seller financing or the need for legal disclosures. By skipping this step, sellers may inadvertently expose themselves to legal risks or financial liabilities. Consulting with a legal or real estate professional ensures that all aspects of the agreement are understood and properly addressed.
The Florida Listing Agreement is a crucial document for anyone looking to sell property in the state. However, several other forms and documents often accompany it to ensure a smooth and legally compliant transaction. Here’s a list of essential documents that work in tandem with the Listing Agreement.
Using these documents alongside the Florida Listing Agreement helps ensure that all parties are informed and protected throughout the selling process. Proper documentation can make a significant difference in achieving a successful transaction.
When filling out the Florida Listing Agreement form, it's essential to approach it with care. Here’s a list of things you should and shouldn’t do:
Misconception 1: The listing agreement guarantees a sale.
Many sellers believe that signing a listing agreement ensures their property will sell. However, the Florida Listing Agreement clearly states that it does not guarantee a sale. The agreement simply grants the broker the exclusive right to market the property, but the outcome depends on various factors, including market conditions and buyer interest.
Misconception 2: The seller is not responsible for any costs until the property is sold.
Some sellers think they will incur no costs until their property sells. In reality, sellers may be responsible for certain expenses outlined in the agreement, such as closing costs or fees associated with seller financing. It’s important for sellers to understand their financial obligations from the outset.
Misconception 3: The broker has unlimited authority to sell the property.
While the broker does have the authority to market the property, sellers often overlook the fact that they can impose limitations. For instance, if a seller opts out of public marketing, the broker's ability to promote the property is restricted. This means sellers have a say in how their property is marketed.
Misconception 4: The listing agreement is a one-time commitment.
Many sellers assume that once they sign the listing agreement, they are committed for life. In truth, the agreement has a specified termination date. Sellers can negotiate terms and may even request a conditional termination, allowing for flexibility in their selling strategy.
The Florida Listing Agreement grants the Broker exclusive rights to sell your property. This means no other agents can represent you during this period.
Clearly specify the price and terms of the sale. Ensure that these details are accurate, as they will guide the marketing and negotiation processes.
Understand your obligations as a Seller. You must cooperate with the Broker, provide access to the property, and disclose any material facts that may affect its value.
Utilize the Multiple Listing Service (MLS). This tool significantly increases the visibility of your property to potential buyers, enhancing your chances of a successful sale.
Be aware of the compensation structure for the Broker. Ensure you understand how and when the Broker will be compensated for their services.