In the real estate industry, an exclusive agency listing enables home or property sellers the chance to discover or find a buyer on their own. By giving an exclusive right to sell to a real estate firm, they can almost guarantee a commission but as a homeowner, an open listing allows you to hire multiple agents to market your property. An exclusive agency works in the middle of this arrangement where the owner gives the agency and its brokerage to be the only entity to market the property. Other documents that can be used are the real estate agency agreement, sales agency contract, exclusive management agreement, agent commission agreement, exclusivity agreement template, and property sales contract.
20+ Exclusive Agency Agreement Samples
1. Exclusive Agency Listing Agreement
2. Exclusive Agency Service Agreement
3. Sample Exclusive Agency Agreement
4. Exclusive Sales Agency Agreement
5. Standard Exclusive Agent Agreement
6. Exclusive Buyer Broker Agency Agreement
7. Exclusive Agency Representation Agreement
8. Exclusive Agency Contract Agreement
9. Exclusive Estate Agency Agreement
10. Exclusive Agency Seller Agreement
11. Exclusive Right to Represent Agency Agreement
12. Exclusive Right Buyer Agency Agreement
13. Exclusive Agency Retainer Agreement
14. Basic Exclusive Agency Agreement
15. Exclusive Real Estate Agency Agreement
16. Exclusive Residential Agency Agreement
17. Exclusive Commercial Agency Agreement
18. Exclusive Sub-Agency Agreement
19. Exclusive Commercial Buyer Agency Agreement
20. Exclusive Selling Agency Agreement
21. Exclusive Rent Agency Agreement
What is an Exclusive Agency Agreement?
An exclusive agency agreement or exclusive authority agreement is a document commonly used in the real estate business that is a contract agreement between a homeowner who decided to sell their home or property and a real estate agent who was granted the exclusive right to sell the property for a determined period of time. In this agreement, the seller will only pay the agency only when they had sourced a buyer and the agency won’t be getting any commission when the owner themselves finds the property buyer on their own.
How to Create an Exclusive Agency Agreement
Also known as an exclusive listing agreement, exclusive agency agreements differs from the exclusive right of sale agreement which is a contract where the home seller does not have the right to market and sell the property without paying a commission. An exclusive agency agreement includes information about the services, products, market, and scope of work the agent will be completing and compensated for.
Step 1: Determine the Expectation of the Involved Parties
Exclusive agency agreements establish the business relationship between an agency and a client who decided to sell their property with the help of an agent or broker. Agents have their roles and responsibilities to follow to perform the services they need to provide for their clients or customers.
Step 2: Provide the List of Services the Agent will Deliver
Rules and regulations before signing a contract with a particular client must be provided and abide by the agents from the exclusive agency and a commission compensation agreement between the client and agency. The contract must be signed by the agent and keep a copy of it. The involved parties must be given easy access to the agreement for the whole duration of their partnership.
Step 3: Include Relevant Governing Law
The agreement must establish the business relationship of the parties by including clauses of relevant governing laws and acts. Implementation of rules and laws is important for the agent and client to establish trust in their relationship.
Step 4: Write the Terms and Conditions As Well As the Duration of the Agreement
Write the terms and conditions in the agreement to ensure mutual understanding between the involved parties. You also have to include details on the duration of the exclusive agency agreement which refers to the amount of time the agreement will be valid between the parties.
What is the difference between an exclusive agency and an open listing agreement?
An exclusive agency agreement is a contract between a seller and one real estate agency while an open listing agreement is a contract between a seller and multiple agencies that the seller wants to work with.
What is the advantage of an exclusive agency agreement?
With an exclusive agency agreement, sellers can save their money as they won’t need to pay the real estate agent when they secure a buyer on their own. The agreement also helps in establishing better relationships with their agents by giving them an exclusive right to market and sell their homes.
What are the common reasons for using an exclusive agency listing?
The common reasons why a seller uses an exclusive agency listing is when they want to find a buyer on their own but would also like to be supported by a listing agent or they have a buyer in mind but needs the help of a real estate agent to establish a price.
An exclusive agency agreement is a contractual relationship between a client and a real estate firm that gives them the right to be the only firm to market, show, and sell a certain home or property. In this agreement, the seller will still have the right to sell their property when they secure a buyer and won’t be required to pay a commission to the real estate agency when they found a buyer on their own.
FREE 10+ Real Estate Broker Contract Samples [ Agent, Buyer ...
FREE 10+ Sales and Marketing Agreement Samples [ Services ...
FREE 7+ Sample Exclusivity Agreement Templates in Google Docs ...
FREE 10+ Agent Contract Templates in PDF MS Word | Google ...
FREE 5+ Sample Property Sales Contracts in MS Word PDF
FREE 30+ Sample Marketing Agreement Templates in Google Docs ...
FREE 17+ Management Contract Templates in PDF MS Word ...
FREE 8+ Agent Contract Samples & Templates in PDF MS Word ...
FREE 12+ Agency Agreement Templates in Google Docs MS Word ...
FREE 7+ Booking Agent Contract Templates in PDF MS Word ...
FREE 10+ Agent Contract Samples and Templates in PDF MS ...
FREE 12+ Sample Marketing Agreement Templates in PDF MS ...
FREE 9+ Business Agency Agreement Templates in MS Word PDF ...
FREE 24+ Marketing Agreement Samples and Templates in PDF ...
FREE 10+ Content License Agreement Samples [ Digital, Non ...