Steve Long Realty & Auction, LLC Exclusive Right to Sell Listing
What we will do…… 1. SELLER acknowledges that Steve Long Realty & Auction, LLC will place said property into the MLS under an Exclusive Right to Sell listing. Seller authorizes Broker to report to the MLS the listing information, price, terms, and financing on any sale, and authorizes Listing Broker and MLS to use or license active listing and sold data. 2. A professional yard sign will be furnished to the Seller which conforms to KRS.324.117 which stipulates that all advertising by agency or SELLER must include the listing Broker’s name or company name. A coreplast sign will be used for Sellers’ who wish to show their own property. A metal sign will be used for those wanting the listing Broker/Affiliate to show the property as a “full service” listing, or Broker will receive all calls and furnish leads to seller as well as setting up Realtor Showings. 3. Listing Broker will make available to Seller either a Master lock ($49.95) or Supra lockbox ($99.00 rental) *Supra not available in Barren County. 4. Agency form for Seller will be provided with any contract for sale offer. If buyers’ agent brings a contract, Broker will represent you. If Broker brings an offer, or you find an “unrepresented buyer”, Broker will write the contract as a “transaction Broker. Brokerage Relationships Transaction involving 2 agents from different companies --Broker will represent the Seller. Receive all written offers. Submit all offers to Seller for consideration. Assist the seller in negotiating with potential buyers’. Draft and present counter offers. Assist Seller in accepting chosen offer on the property. Receive offers and counter offers and attempt to execute a final contract to the best of our ability. Accept earnest money deposits. Provide a “Net to Seller” worksheet. Transaction involving listing Broker or Seller found “unrepresented buyer:
Transaction Broker—you agree to show your property and a buyer wants to make an offer, or Broker finds the buyer, I will write the offer and act solely as a facilitator and will not represent or advocate for either party to the transaction. Assist the parties to a potential real estate transaction. In communication, interposition and negotiation To reach an agreement among or between them, without acting as an agent for either party. Both parties are treated as customers. Receive offers and counter offers and attempt to execute a final contract to the best of our ability. Accept earnest money deposits. Provide a “Net to Seller” worksheet.
5. Listing Broker agrees to receive all offers on behalf of SELLER. Listing Broker will forward all offers to SELLER upon receipt, as well as call ALL numbers of record to ensure the SELLER is notified of the offer. a) Broker will review an offer at a time convenient to Seller. b) Broker will request Realtor or buyers’ agent for a pre-approval letter. c) Broker will assist Seller in choosing closing agent/attorney and send executed contract, accordingly. d) Broker will assist, cooperate, and facilitate the closing process with all properties including home inspection, appraisal, termite inspection and closing agent/attorney. e) Request that closing agent/attorney send HUD1 for inspection prior to closing. f) Broker shall not be relied upon or expected to be present at home inspection, appraisal, pest inspection, closing (unless Broker chooses), or held responsible for delivery of keys. g) Broker may advertise the property in newspapers, home magazines, in real estate websites, on internet, use a “for sale” sign (after Seller signs listing contract). h) Obtain all information regarding liens or mortgages of the listed property. i) Present to Seller the option of a “Home Warranty”. j) Use of RELAY Transaction Management website at no cost. 6. Listing Broker will send email verification immediately upon SELLER’s property being listed in the MLS. This notification allows the SELLER to verify and edit any factual data errors or typos. If so, Seller may respond by email verification at firstname.lastname@example.org. within 24 hours of receipt, notifying listing Broker of such errors. If SELLER fails to respond by email verification, listing Broker will deem SELLER’s listing as accurate. Once a property is listed in the MLS, there are no refunds or partial refunds. __________________ Seller
What we expect you to do..... It is the SELLER’s responsibility to confirm the appropriate yard sign dimensions with any governing authorities as well as the possibility of restrictions being placed on sign usage by a homeowner’s association. SELLER authorizes listing Broker to list property in the MLS, listing Broker’s proprietary websites, Realtor.com, real estate publications, and other real estate websites for the purpose of procuring SELLER a buyer. Listing Broker may advertise price, terms of sales, property description, and pictures as provided by SELLER. (photos should be emailed (jpeg only) to email@example.com or loaded on Relay website. Cooperate with Broker in carrying out this agreement, and immediately notify listing Broker regarding transfer whether by purchase or any other means of transfer.
Inform Broker prior to leasing, mortgaging, or otherwise encumbering the property. Consult appropriate professionals for legal, tax, zoning, square footage, environmental requirements for specializes advice. Seller acknowledges that listing Broker/affiliates are not qualified or authorized to give such advice, and if given, Seller will not rely upon such advice. Seller is required to fill out all property disclosures, and warrants that there are no readily observable defects known to seller, and there are no prior agreements that have been lawfully terminated. Changes to MLS listing Seller may change price and commissions anytime without an additional administrative charge. Any changes to listing other than price and commission will be limited to one round of changes per month at no additional charge. TERM of AGREEMENT and RIGHT to CANCEL: This agreement may be cancelled by SELLER, anytime by notifying listing Broker, within 24 hours. To Request termination: go to: Relay website and use the provided form, and email or fax to Relay using the cover sheet. SELLER cannot cancel AGREEMENT if there has been an executed contract that is pending closing. THIS AGREEMENT is GOVERNED by: 1. All State and Federal Laws regarding housing including but not limited to Civil Rights Act of 1856 and 1968 (Fair Housing ACT), Equal Housing Laws and in particular to the equal and unbiased showing of property regardless of race, color, religion, sex, handicap, familial status or national origin. 2. All rules and regulations of the Multiple Listing Service (MLS).
PRICE: This property is being listed for sale: $ __________. This price was solely determined by the SELLER. After Seller receives BPO on present listings and past sold listings from Broker, the Seller may alter the list price at their discretion. SELLER is offering _____% commission in the MLS and SELLER is offering ___________bonus to procuring Realtor. SELLER is authorizing broker to offer this commission/bonus by means of this listing agreement and further authorizes Broker to advertise such commission/bonus in the MLS on behalf of SELLER to Realtors in an effort to procure a buyer for said property. If a sales contract is fully executed by BUYER/SELLER, or if SELLER, by means of any agreement, transfer title of property to another party in which a Realtor was the procuring cause by evidence that the Realtor’s name is on the sale’s contract, and successfully closes the transaction, SELLER gives Broker the authority to inform the title company/closing agent or lawyer representing SELLER to include such commission/bonus, exactly as stated in the MLS, on the HUD1 settlement statement, as an item to be paid by SELLER, and gives the closing agent such authority to disburse said commission/bonus to the procuring Realtor at closing, according to commission/bonus advertised in MLS at time of contract.
SELLER authorizes closing agent to send a copy of the signed HUD1, signed pest inspection report, signed Lead Base Paint Addendum (if applicable), and any other pertinent closing documents to Broker at firstname.lastname@example.org with in 24 hours.
SELLER agrees to protect any Realtor that brings a Buyer to SELLER by not allowing such a Buyer to circumvent the advertised co-broke commission in the MLS by going around the Realtor. Such practice would be a violation of this listing agreement and Realtors are protected by State statutes and MLS rules in this regard.
Indemification: 1) Seller agrees to indemnify Listing Broker and hold listing Broker harmless from losses, damages, costs and expenses of any nature, including attorney fees, and from liability to any person, that Listing broker incurs: Sellers’ negligence, representations, misrepresentations, actions or inaction. Any loss or theft relating to the use of a lock box or from Seller’s failure to remove or secure valuables. The existence of undisclosed material facts about the property. A court or arbitration decision that a broker who was not compensated in connection with a transaction is entitled to compensation from Broker. Immediately inform Broker of any material fact that may arise after signing this agreement. If at any time Broker/affiliate should become liable to seller or buyer by virtue of contract or transaction contemplated by it, such Broker liability shall be limited to a sum not to exceed the flat fee MLS listing payment received or the commission received by the Broker as a result of this contract or transaction, whichever is greater; and the sum shall be complete and exclusive. The fact that the listing broker my have not seen, inspected or visited the listed property; Other general potential liabilities arising from the transaction.
All commission change forms found at Relay and must be used for all changes. Failure to use this proper form can result in a claim against SELLER for the difference between the advertised commission of ____% and the newly agreed commission. By signing below, the SELLER expressly understands that failure to use this important form could result in Steve Long/ Broker holding the SELLER responsible for additional commission should an arbitration action be brought against Steve Long Realty & Auction, LLC by the buyer’s agent’s brokerage firm. ______________________ Seller
SELLER shall not advertise property for a price lower than the agreed price in this agreement. This does not prohibit a SELLER from negotiating a lower price and does not prohibit SELLER from verbally speaking of a lower price than advertised in the MLS when speaking to prospect. This MLS rule only pertains to printed advertisements. Per KRS 324.117, all advertising by Broker or SELLER must contain Broker’s name or business in any advertisement. Any violation, or
penalties, or fines levied on Broker as result caused by Seller, shall be paid for by Seller. SELLER agrees to cooperate with Steve Long Realty & Auction, LLC to effectuate any necessary paperwork or forms to keep in compliance with the MLS or to make changes to the listing requested by SELLER.
. Cooperation and Compensation 1. Broker will offer the selling agents commission agreed upon in the amount of ___% of the final sale’s price to a buyers’ broker as a co-brokerage commission in the MLS. 2. If Listing Broker sells the property, the selling agent’s commission will be __% of the final sale’s price. Listing Broker then agrees to refund listing fee agreed upon by Listing Broker and Seller. 3. If Seller agrees to the Platinum Plan, the listing fee is $595.00, and closing fee of $595.00. 4. A commission will be due to Listing Broker or another agent for procuring a buyer who is ready, willing, and able to purchase the Property or any other interest in the Property on the terms of this agreement or any other terms acceptable to the Seller. 5. Per statutes, the listing Broker is responsible to pay co-brokerage fees on behalf of the Seller. Therefore, commissions are due if the Seller refuses or fails to sign an offer at the price and terms stated in this agreement, defaults on an executed sales contract, or agrees with a buyer to cancel an existing sales contract. Third Party Vendors As a courtesy, Listing Broker may provide Seller with names of service providers, such as inspectors, attorneys, pest control, repair companies, or home warranties, and may/may not receive compensation from these vendors. The providing of such names shall not in any way be construed to be a recommendation or endorsement of, nor does listing Broker warrant the work of, any of these providers. The final choice of any service provider rest solely with the Seller, and Seller is free to choose any provider of his/her choosing. Seller agrees to hold harmless the listing Broker from any and all claims or losses that any way arise out of, or relate to, the selection of any such service provider. Dispute Resolution: All parties agree to mediation under the rules of the American Arbitration Association or mediator agreed upon by both parties for any controversies or claims arising from this agreement. Seller and listing broker agree that disputes not settled by mediation will be settled by neutral binding arbitration in the county in which the property is located. Each party will pay its own expenses, fees, costs, including attorney fees, and will equally split the arbitrator’s fee and administrative fees of arbitration. This agreement will be construed under law. Listing Broker and
Seller hereby knowingly and voluntarily waive any right to trial by jury in any litigation. This agreement is binding on Listing Broker’s and Seller’s heirs, representatives, administrators, and assigns. Listing agent may assign this listing to one of his agents or affiliates to service and place in the MLS. This addendum + MLS required listing document sets forth the entire agreement between Broker and Seller and may only be modifies in writing between listing Broker and Seller. This is intended to be a binding contract. If you do not fully understand this contract, consult an attorney before you sign. By signing below, the Seller understands and agrees to all the terms and conditions of this agreement, and acknowledges receipt of a copy within 24 hours of acceptance with listing Broker. Primary Contact Number _________________________ Home Telephone: ________________ Work Phone:_______________________ Mobile Telephone:_______________ Facsimile: _______________________
Email: _________________________ Alternate Email: _________________ Mailing Address: _____________________________________________________
SELLER ACCEPTANCE OF AGREEMENT TO FLAT-FEE LISTING: SELLER grants Steve Long Realty & Auction, LLC this flat fee listing with the terms, condition of use, and descriptions of service. All persons or entities authorized to sell this property and have ownership interest must sign this agreement and including those persons duly authorized to act as representatives for the SELLER and such persons having certified that he is legally authorized to enter into this agreement: I am the owner for property located at ______________________________________ Signature: ____________________ Date: ______________________ (Type Name) I am the owner for property located at _____________________________________ Signature:_______________________ Date: (Type Name) I am the owner for property located at_______________________________________ Signature:_________________________ Date: _________________________