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Listing Agreement Terms and Conditions

General Information

Obtain complete contact details of the property owner/seller.

Gather information about the property's legal description, including lot number, block number, and subdivision name.

Collect any existing property surveys, blueprints, or architectural plans.

Obtain copies of any relevant property documents, such as title deeds, tax assessments, and zoning information.

Confirm the property's physical address and ensure it matches the legal description.

Verify the property's current occupancy status and any existing tenancy agreements.

Listing Price and Terms

Discuss and agree upon the initial listing price with the property owner/seller.

Determine the acceptable price range or any potential negotiation factors.

Decide on the listing duration, such as a fixed number of days or months.

Establish any price adjustments or contingencies based on market conditions or property inspections.

Confirm the owner/seller's desired net proceeds from the sale.

Discuss and agree upon the commission rate and terms for the real estate agents involved.

Property Marketing and Promotion

Develop a comprehensive marketing strategy for the property.

Determine the appropriate listing description, highlighting key features and benefits.

Decide on the use of professional photography, virtual tours, or video marketing.

Discuss potential advertising platforms, such as online listings, print media, or open houses.

Establish a timeline for implementing the marketing plan.

Determine if the property will be listed exclusively or in cooperation with other real estate agents.

Property Condition and Disclosures

Assess the property's overall condition and identify any necessary repairs or improvements.

Determine the owner/seller's responsibility for repairs or staging.

Discuss any known property defects or issues that must be disclosed to potential buyers.

Review local laws and regulations regarding property disclosures.

Establish a process for obtaining and handling any required property disclosure statements or documents.

Confirm the availability of property warranties, if applicable.

Showings and Access

Determine the preferred method for scheduling property showings (e.g., appointment-only, lockbox access).

Discuss the owner/seller's availability for showings and any restrictions or preferences.

Establish guidelines for accessing the property, including instructions for real estate agents and potential buyers.

Determine any specific showing instructions or considerations (e.g., pets, security systems).

Discuss the use of electronic lockboxes or other security measures.

Offer and Negotiations

Establish guidelines for handling offers and counteroffers on the property.

Discuss the owner/seller's desired negotiation approach and potential negotiation factors.

Determine the acceptable timelines for responding to offers.

Establish any contingencies or conditions for accepting an offer (e.g., financing, home inspection).

Discuss the process for reviewing and accepting earnest money deposits.

Confirm the owner/seller's rights to accept or reject any offers.

Closing Process and Legal Considerations

Discuss the anticipated closing date and establish flexibility if needed.

Determine the preferred method for handling closing costs and who will be responsible for specific fees.

Review any necessary legal documents, such as purchase agreements, disclosures, and title transfer documents.

Confirm the process for conducting a final property walkthrough before closing.

Discuss the owner/seller's preferred method of receiving funds from the sale (e.g., wire transfer, check).

Establish a communication plan for updating the owner/seller throughout the closing process.

Note: This checklist serves as a general guide, and specific items may vary depending on local regulations, company policies, and individual circumstances. It is recommended to consult with legal professionals and real estate experts to ensure compliance and accuracy.

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