Open Listing Realty Agreement

Open Listing Realty Agreement Template

This Open Listing Realty Agreement (“Agreement”) is entered into on [Date], by and between:

Property Owner (Seller):
Name: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________

Broker/Agent:
Name: __________________________
Agency: __________________________
License Number: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________

Collectively referred to as the “Parties.”

1. Property Description

The Property Owner grants the Broker the non-exclusive right to market and sell the following property:
[Property Address and Legal Description]

2. Listing Price

The initial listing price for the property shall be $[Amount], subject to adjustment by mutual written agreement of the Parties.

3. Commission

• The Broker shall be entitled to a commission of [X]% of the final sales price if they directly procure a buyer ready, willing, and able to purchase the property.

• No commission shall be owed if the sale is made by another agent or by the Property Owner without the involvement of the Broker.

4. Broker’s Duties

The Broker agrees to:

• Market the property through reasonable efforts, including listing services, advertisements, and open houses.

• Communicate offers and inquiries promptly to the Property Owner.

• Comply with all applicable real estate laws and licensing requirements.

5. Owner’s Rights

The Property Owner reserves the right to:

• Sell the property independently without paying a commission.

• Engage additional brokers or agents to market the property simultaneously.

6. Term and Termination

• This Agreement begins on [Start Date] and continues until [End Date] unless terminated earlier by either Party with [X days] written notice.

• Any pending offers submitted before termination remain subject to commission payment if the Broker initiated them.

7. Disclosure and Compliance

Both Parties agree to comply with all state and federal real estate laws, including disclosure of material facts about the property to prospective buyers.

8. Indemnification

Each Party agrees to indemnify and hold harmless the other against claims, damages, or liabilities arising from their own actions or omissions under this Agreement.

9. Governing Law

This Agreement shall be governed by the laws of [State/Country].

10. Entire Agreement

This document constitutes the entire understanding between the Parties and supersedes all prior agreements or representations.

Signatures

Property Owner Signature: ____________________________ Date: _________
Printed Name: _________________________________________

Broker Signature: ____________________________ Date: _________
Printed Name & Title: _________________________________________