WebLearn
Homepage ↝ Blank Florida Listing Agreement Form
Outline

The Florida Listing Agreement form is a crucial document in the real estate process, outlining the relationship between a seller and a broker. This agreement grants the broker the exclusive right to sell the property, which includes both real and personal assets. It specifies the duration of the agreement, detailing when it begins and ends. Within this framework, the seller certifies their legal ability to sell the property and agrees to comply with fair housing laws. The form also includes a description of the property, including its address and any personal property included in the sale. Pricing and financing terms are clearly defined, allowing sellers to outline their expectations. Additionally, the broker's obligations to market the property effectively and the seller's responsibilities to cooperate with the broker are highlighted. The agreement also addresses compensation for the broker, detailing how and when they will be paid. Furthermore, it outlines the process for dispute resolution, ensuring both parties understand their rights and responsibilities. Overall, the Florida Listing Agreement form serves as a comprehensive guide to the selling process, fostering transparency and clarity between sellers and brokers.

Sample - Florida Listing Agreement Form

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®
Exclusive Right of Sale Listing Agreement
This Exclusive Right of Sale Listing Agreement (“Agreement”) is between
1
("Seller")
2
and ("Broker").
3
1. Authority to Sell Property: Seller gives Broker the EXCLUSIVE RIGHT TO SELL the real and personal
4
property (collectively “Property”) described below, at the price and terms described below, beginning
5
____________________ and terminating at 11:59 p.m. on ____________________ (“Termination Date”). Upon
6
full execution of a contract for sale and purchase of the Property, all rights and obligations of this Agreement will
7
automatically extend through the date of the actual closing of the sales contract. Seller and Broker acknowledge
8
that this Agreement does not guarantee a sale. This Property will be offered to any person without regard to race,
9
color, religion, sex, handicap, familial status, national origin, or any other factor protected by federal, state, or local
10
law. Seller certifies and represents that she/he/it is legally entitled to convey the Property and all improvements.
11
2. Description of Property:
12
(a) Street Address:
13
14
Legal Description:
15
____________________________________________________ See Attachment
16
(b) Personal Property, including appliances:
17
____________________________________________________ See Attachment
18
(c) Occupancy:
19
Property is is not currently occupied by a tenant. If occupied, the lease term expires ______________ .
20
3. Price and Terms: The property is offered for sale on the following terms or on other terms acceptable to Seller:
21
(a) Price: $____________________
22
(d) Financing Terms: Cash Conventional VA FHA Other (specify)
23
Seller Financing: Seller will hold a purchase money mortgage in the amount of $
24
with the following terms:
25
Assumption of Existing Mortgage: Buyer may assume existing mortgage for $___________________ plus
26
an assumption fee of $____________________. The mortgage is for a term of ______ years beginning in
27
______, at an interest rate of ______% fixed variable (describe) _____________________________ .
28
Lender approval of assumption is required is not required unknown. Notice to Seller: (1) You may
29
remain liable for an assumed mortgage for a number of years after the Property is sold. Check with your
30
lender to determine the extent of your liability. Seller will ensure that all mortgage payments and required
31
escrow deposits are current at the time of closing and will convey the escrow deposit to the buyer at closing.
32
(2) Extensive regulations affect Seller financed transactions. It is beyond the scope of a real estate licensee’s
33
authority to determine whether the terms of your Seller financing agreement comply with all applicable laws or
34
whether you must be registered and/or licensed as a loan originator before offering Seller financing. You are
35
advised to consult with a legal or mortgage professional to make this determination.
36
(e) Seller Expenses: Seller will pay mortgage discount or other closing costs not to exceed ______% of the
37
purchase price and any other expenses Seller agrees to pay in connection with a transaction.
38
4. Broker Obligations: Broker agrees to make diligent and continued efforts to sell the Property in accordance with
39
this Agreement until a sales contract is pending on the Property.
40
5. Multiple Listing Service: Placing the Property in a multiple listing service (the “MLS”) is beneficial to Seller
41
because the Property will be exposed to a large number of potential buyers. As a MLS participant, Broker is
42
obligated to enter the Property into the MLS within one (1) business day of marketing the Property to the public
43
(see Paragraph 6(a)) or as necessary to comply with local MLS rule(s). This listing will be published accordingly in
44
the MLS unless Seller directs Broker otherwise in writing. (See paragraph 6(b)(i)). Seller authorizes Broker to
45
report to the MLS this listing information and price, terms, and financing information on any resulting sale for use
46
by authorized Board / Association members and MLS participants and subscribers unless Seller directs Broker
47
otherwise in writing.
48
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 2 of 4.
ERS-18tb Rev 5/20 © 2020 Florida Realtors®
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
6. Broker Authority: Seller authorizes Broker to:
(a) Market the Property to the Public (unless limited in Paragraph 6(b)(i) below):
(i) Public marketing includes, but is not limited to, flyers, yard signs, digital marketing on public facing
websites, brokerage website displays (i.e. IDX or VOW), email blasts, multi-brokerage listing sharing
networks and applications available to the general public.
(ii) Public marketing also includes marketing the Property to real estate agents outside Broker’s
office.
(iii) Place appropriate transaction signs on the Property, except if Paragraph 6(b)(i) is checked below.
(iv) Use Seller’s name in connection with marketing or advertising the Property.
Display the Property on the Internet except the street address.
(b) Not Publicly Market to the Public/Seller Opt-Out:
(i.) Seller does not authorize Broker to display the Property on the MLS.
(ii.) Seller understands and acknowledges that if Seller checks option 6(b)(i), a For Sale sign will not be
placed upon the Property and
(iii.) Seller understands and acknowledges that if Seller checks option 6(b)(i), Broker will be limited to
marketing the Property only to agents within Broker’s office.
________/__________ Initials of Seller
(c) Obtain information relating to the present mortgage(s) on the Property.
(d) Provide objective comparative market analysis information to potential buyers.
(e) (Check if applicable) Use a lock box system to show and access the Property. A lock box does not
ensure the Property’s security. Seller is advised to secure or remove valuables. Seller agrees that the lock
box is for Seller’s benefit and releases Broker, persons working through Broker, and Broker’s local Realtor
Board / Association from all liability and responsibility in connection with any damage or loss that occurs.
71
Withhold verbal offers. Withhold all offers once Seller accepts a sales contract for the Property.
72
(f) Act as a transaction broker.
73
(g) Virtual Office Websites: Some real estate brokerages offer real estate brokerage services online. These
74
websites are referred to as Virtual Office Websites (“VOWs”). An automated estimate of market value or
75
reviews and comments about a property may be displayed in conjunction with a property on some VOWs.
76
Anyone who registers on a VOW may gain access to such automated valuations or comments and reviews
77
about any property displayed on a VOW. Unless limited below, a VOW may display automated valuations or
78
comments and reviews about this Property.
79
Seller does not authorize an automated estimate of the market value of the listing (or a hyperlink to such
80
estimate) to be displayed in immediate conjunction with the listing of this Property.
81
Seller does not authorize third parties to write comments or reviews about the listing of the Property (or
82
display a hyperlink to such comments or reviews) in immediate conjunction with the listing of this Property.
83
7. Seller Obligations: In consideration of Broker’s obligations, Seller agrees to:
84
(a) Cooperate with Broker in carrying out the purpose of this Agreement, including referring immediately to
85
Broker all inquiries regarding the Property’s transfer, whether by purchase or any other means of transfer.
86
(b) Recognize Broker may be subject to additional MLS obligations and potential penalties for failure to comply
87
with them.
88
(c) Provide Broker with keys to the Property and make the Property available for Broker to show during
89
reasonable times.
90
(d) Inform Broker before leasing, mortgaging, or otherwise encumbering the Property.
91
(e) Indemnify Broker and hold Broker harmless from losses, damages, costs, and expenses of any nature,
92
including attorney’s fees, and from liability to any person, that Broker incurs because of (1) Seller’s
93
negligence, representations, misrepresentations, actions, or inactions; (2) the use of a lock box; (3) the
94
existence of undisclosed material facts about the Property; or (4) a court or arbitration decision that a broker
95
who was not compensated in connection with a transaction is entitled to compensation from Broker. This
96
clause will survive Broker’s performance and the transfer of title.
97
(f) Perform any act reasonably necessary to comply with FIRPTA (Section 1445 of the Internal Revenue Code).
98
(g) Make all legally required disclosures, including all facts that materially affect the Property’s value and are not
99
readily observable or known by the buyer. Seller certifies and represents that Seller knows of no such
100
material facts (local government building code violations, unobservable defects, etc.) other than the following:
101
______________________________________________________________________________________
102
Seller will immediately inform Broker of any material facts that arise after signing this Agreement.
103
(h) Consult appropriate professionals for related legal, tax, property condition, environmental, foreign reporting
104
requirements, and other specialized advice.
105
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 3 of 4.
ERS-18tb Rev 5/20 © 2020 Florida Realtors®
8. Compensation: Seller will compensate Broker as specified below for procuring a buyer who is ready, willing,
106
and able to purchase the Property or any interest in the Property on the terms of this Agreement or on any other
107
terms acceptable to Seller. Seller will pay Broker as follows (plus applicable sales tax):
108
(a) __________% of the total purchase price plus $____________________ OR $____________________, no
109
later than the date of closing specified in the sales contract. However, closing is not a prerequisite for Broker’s
110
fee being earned.
111
(b) __________ ($ or %) of the consideration paid for an option, at the time an option is created. If the option is
112
exercised, Seller will pay Broker the Paragraph 8(a) fee, less the amount Broker received under this
113
subparagraph.
114
(c) __________ ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or
115
agreement to lease, whichever is earlier. This fee is not due if the Property is or becomes the subject of a
116
contract granting an exclusive right to lease the Property.
117
(d) Broker’s fee is due in the following circumstances: (1) If any interest in the Property is transferred, whether by
118
sale, lease, exchange, governmental action, bankruptcy, or any other means of transfer, regardless of whether
119
the buyer is secured by Seller, Broker, or any other person. (2) If Seller refuses or fails to sign an offer at the
120
price and terms stated in this Agreement, defaults on an executed sales contract, or agrees with a buyer to
121
cancel an executed sales contract. (3) If, within ______ days after Termination Date (“Protection Period”),
122
Seller transfers or contracts to transfer the Property or any interest in the Property to any prospects with whom
123
Seller, Broker, or any real estate licensee communicated regarding the Property before Termination Date.
124
However, no fee will be due Broker if the Property is relisted after Termination Date and sold through another
125
broker.
126
(e) Retained Deposits: As consideration for Broker’s services, Broker is entitled to receive ______% (50% if
127
left blank) of all deposits that Seller retains as liquidated damages for a buyer’s default in a transaction, not to
128
exceed the Paragraph 8(a) fee.
129
9. Cooperation with and Compensation to Other Brokers: Notice to Seller: The buyer’s broker, even if
130
compensated by Seller or Broker, may represent the interests of the buyer. Broker’s office policy is to cooperate
131
with all other brokers except when not in Seller’s best interest and to offer compensation in the amount of
132
______% of the purchase price or $_______________ to a single agent for the buyer; ______% of the
133
purchase price or $_______________ to a transaction broker for the buyer; and ______% of the purchase
134
price or $_______________ to a broker who has no brokerage relationship with the buyer.
135
None of the above. (If this is checked, the Property cannot be placed in the MLS.)
136
10. Brokerage Relationship: Broker will act as a transaction broker. Broker will deal honestly and fairly; will account
137
for all funds; will use skill, care, and diligence in the transaction; will disclose all known facts that materially affect
138
the value of the residential property which are not readily observable to the buyer; will present all offers and
139
counteroffers in a timely manner unless directed otherwise in writing; and will have limited confidentiality with
140
Seller unless waived in writing.
141
11. Conditional Termination: At Seller’s request, Broker may agree to conditionally terminate this Agreement. If
142
Broker agrees to conditional termination, Seller must sign a withdrawal agreement, reimburse Broker for all direct
143
expenses incurred in marketing the Property, and pay a cancellation fee of $____________________ plus
144
applicable sales tax. Broker may void the conditional termination, and Seller will pay the fee stated in Paragraph
145
8(a) less the cancellation fee if Seller transfers or contracts to transfer the Property or any interest in the Property
146
during the time period from the date of conditional termination to Termination Date and Protection Period, if
147
applicable.
148
12. Dispute Resolution: This Agreement will be construed under Florida law. All controversies, claims, and other
149
matters in question between the parties arising out of or relating to this Agreement or the breach thereof will be
150
settled by first attempting mediation under the rules of the American Mediation Association or other mediator
151
agreed upon by the parties. If litigation arises out of this Agreement, the prevailing party will be entitled to recover
152
reasonable attorney’s fees and costs, unless the parties agree that disputes will be settled by arbitration as follows:
153
Arbitration: By initialing in the space provided, Seller (____) (____), Sales Associate (____), and Broker (____)
154
agree that disputes not resolved by mediation will be settled by neutral binding arbitration in the county in which
155
the Property is located in accordance with the rules of the American Arbitration Association or other arbitrator
156
agreed upon by the parties. Each party to any arbitration (or litigation to enforce the arbitration provision of this
157
Agreement or an arbitration award) will pay its own fees, costs, and expenses, including attorney’s fees, and will
158
equally split the arbitrator’s fees and administrative fees of arbitration.
159
13. Miscellaneous: This Agreement is binding on Seller’s and Broker’s heirs, personal representatives,
160
administrators, successors, and assigns. Broker may assign this Agreement to another listing office. This
161
Seller (_____) (_____) and Broker/Sales Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 4 of 4.
ERS-18tb Rev 5/20 © 2020 Florida Realtors®
Agreement is the entire agreement between Seller and Broker. No prior or present agreements or representations
162
will be binding on Seller or Broker unless included in this Agreement. Electronic signatures are acceptable and
163
will be binding. Signatures, initials, and modifications communicated by facsimile will be considered as originals.
164
The term “buyer” as used in this Agreement includes buyers, tenants, exchangors, optionees, and other categories
165
of potential or actual transferees.
166
14. Additional Terms: __________________________________________________________________________
167
______________________________________________________________________________________________168
______________________________________________________________________________________________169
______________________________________________________________________________________________170
______________________________________________________________________________________________171
______________________________________________________________________________________________172
______________________________________________________________________________________________173
______________________________________________________________________________________________174
______________________________________________________________________________________________175
______________________________________________________________________________________________176
______________________________________________________________________________________________177
______________________________________________________________________________________________178
______________________________________________________________________________________________179
Seller’s Signature: Date: _______________________
180
Home Telephone: Work Telephone: Facsimile: ___________________
181
Address:
182
Email Address:
183
Seller’s Signature: Date: _______________________
184
Home Telephone: Work Telephone: Facsimile: ___________________
185
Address:
186
Email Address:
187
Authorized Sales Associate or Broker: _______________________________ Date: _______________________
188
Brokerage Firm Name: _____________________________________________ Telephone: ___________________
189
Address:
190
Copy returned to Seller on _____________________ by email facsimile mail personal delivery.
191
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.
Click for PDF

Form Information

Fact Name Description
Exclusive Right to Sell The agreement grants the broker exclusive rights to sell the property, meaning only the broker can represent the seller in the sale.
Termination Date The agreement specifies a start date and a termination date, after which the broker no longer has the right to sell the property unless extended.
Non-Discrimination Clause The property will be marketed without discrimination based on race, color, religion, sex, handicap, familial status, or national origin.
Broker Obligations The broker must make diligent efforts to sell the property and must enter it into the Multiple Listing Service (MLS) within one business day.
Seller Responsibilities Sellers must cooperate with the broker, provide access to the property, and disclose any material facts affecting the property's value.
Compensation Structure The seller agrees to compensate the broker based on a percentage of the sale price or a flat fee, as specified in the agreement.
Governing Law This agreement is governed by Florida law, ensuring compliance with state-specific regulations regarding real estate transactions.

Detailed Guide for Filling Out Florida Listing Agreement

Completing the Florida Listing Agreement form is an essential step in the process of selling property. This agreement outlines the terms and responsibilities between the seller and the broker, ensuring that both parties are aware of their obligations. It is important to fill out this form accurately to avoid any misunderstandings or complications during the sale process.

  1. Begin by entering the names of the Seller and Broker at the top of the form.
  2. In the section labeled Authority to Sell Property, write the start date and termination date of the agreement.
  3. Provide the Street Address and Legal Description of the property in the Description of Property section.
  4. List any Personal Property included in the sale, such as appliances, in the appropriate space.
  5. Indicate whether the property is currently occupied by a tenant and, if so, provide the lease expiration date.
  6. In the Price and Terms section, fill in the asking price and financing terms.
  7. Specify any Seller Expenses that will be covered by the seller.
  8. Review the Broker Obligations to understand the broker's responsibilities.
  9. Decide whether to authorize the broker to place the property in the Multiple Listing Service (MLS) and indicate your choice.
  10. Complete the Broker Authority section by marking any applicable options regarding marketing and lock box use.
  11. In the Seller Obligations section, acknowledge your responsibilities and provide any required disclosures.
  12. Fill in the Compensation section to outline the payment structure for the broker.
  13. Indicate your cooperation with other brokers in the Cooperation with and Compensation to Other Brokers section.
  14. Review the Brokerage Relationship and ensure you understand the terms.
  15. Consider any Additional Terms that may need to be added to the agreement.
  16. Finally, sign and date the form, providing your contact information.

Once the form is completed, it should be reviewed thoroughly to ensure all information is accurate and complete. Any necessary attachments or additional documents should be included before submission. It is advisable to keep a copy of the signed agreement for your records.

Obtain Answers on Florida Listing Agreement

  1. What is the purpose of the Florida Listing Agreement?

    The Florida Listing Agreement is a contract between a seller and a broker. It grants the broker the exclusive right to sell the seller's property. This means the broker is the only one authorized to market and negotiate the sale of the property during the specified time frame. The agreement outlines the terms of the sale, including the price and any conditions related to the sale.

  2. What are the seller's obligations under this agreement?

    Sellers have several key responsibilities when entering into this agreement:

    • Cooperate with the broker in all aspects of the sale.
    • Provide access to the property for showings.
    • Notify the broker about any changes related to the property, such as leasing or financing.
    • Disclose any material facts that could affect the property's value.

    By fulfilling these obligations, sellers help ensure a smoother selling process.

  3. What happens if the property sells after the agreement ends?

    If the property sells within a specified period after the agreement ends, the seller may still owe a commission to the broker. This is known as the "Protection Period." The seller should be aware that if they engage with potential buyers who were introduced to them during the agreement, they may still be liable for the broker's fee.

  4. Can the seller limit how the broker markets the property?

    Yes, the seller can choose to limit the broker's marketing methods. If the seller prefers not to have the property listed on the Multiple Listing Service (MLS), they can indicate this in the agreement. However, this limitation may reduce the property's exposure to potential buyers, which could affect the sale.

Common mistakes

Filling out the Florida Listing Agreement form can be a straightforward process, but many people make common mistakes that can lead to complications down the line. One of the most frequent errors is neglecting to provide accurate property details. The description of the property is crucial, as it defines what is being sold. If the street address or legal description is incorrect or incomplete, it can create confusion and potentially delay the sale. Always double-check that all information is correct and matches official documents.

Another common mistake is not clearly stating the price and terms of the sale. Sellers often leave the price section blank or fail to specify financing options. This can lead to misunderstandings with potential buyers and may hinder negotiations. Clearly outlining the selling price and any financing terms upfront helps set expectations and can facilitate smoother transactions.

Some sellers also overlook the importance of the occupancy status of the property. If the property is currently occupied by a tenant, it’s vital to indicate this and provide details about the lease term. Failing to disclose this information can lead to legal issues or disputes with buyers who may not be prepared for the complexities of dealing with tenants.

In addition, many people forget to address the broker obligations and their own responsibilities. The agreement outlines what the broker will do to market the property, but sellers must also understand their obligations. This includes making the property accessible for showings and providing necessary information to the broker. Ignoring these responsibilities can create friction and potentially derail the selling process.

Another frequent oversight is not considering the multiple listing service (MLS) implications. Some sellers may not realize the benefits of listing their property on the MLS, which can increase visibility to potential buyers. If a seller opts out of MLS listing without fully understanding the consequences, they may limit their property's exposure and reduce the chances of a quick sale.

Lastly, sellers sometimes miss the significance of consulting professionals for legal and financial advice. The Listing Agreement encourages sellers to seek guidance from legal or mortgage professionals. Ignoring this advice can lead to misunderstandings about seller financing or legal obligations. Taking the time to consult with experts can help ensure that all aspects of the sale are handled correctly and in compliance with the law.

Documents used along the form

When engaging in a real estate transaction in Florida, several forms and documents accompany the Florida Listing Agreement. These documents serve various purposes and help facilitate a smooth process for both sellers and brokers. Below is a list of commonly used documents that often accompany the Listing Agreement.

  • Seller's Property Disclosure Statement: This document provides potential buyers with important information about the property's condition and any known defects. It is essential for transparency and helps buyers make informed decisions.
  • Comparative Market Analysis (CMA): A CMA is a report prepared by the broker that compares the seller's property to similar properties in the area. This analysis helps determine a competitive listing price based on current market conditions.
  • Buyer's Agency Agreement: This document outlines the relationship between the buyer and their agent. It details the agent's responsibilities and the compensation structure, ensuring clarity in the transaction.
  • Purchase and Sale Agreement: Once a buyer is found, this legally binding contract outlines the terms of the sale, including the purchase price, contingencies, and closing details. It is crucial for formalizing the agreement between the buyer and seller.
  • Lead-Based Paint Disclosure: Required for homes built before 1978, this document informs buyers about the potential presence of lead-based paint and its associated risks. It is a vital part of ensuring buyer safety.
  • Home Inspection Report: This report, often obtained by the buyer, assesses the property's condition. It identifies any issues that may need to be addressed before closing, allowing for negotiations between the buyer and seller.
  • Closing Disclosure: This document provides a detailed account of the final terms of the mortgage, including the loan amount, interest rate, and closing costs. It must be provided to the buyer at least three days before closing to ensure they understand the financial aspects of the transaction.

Each of these documents plays a critical role in the real estate process, ensuring that both sellers and buyers are informed and protected throughout the transaction. Understanding these forms can help facilitate a smoother and more successful sale.

Similar forms

  • Exclusive Agency Listing Agreement: Similar to the Florida Listing Agreement, this document allows a seller to retain the right to sell their property independently while still granting a broker the right to market the property. The key difference is that the seller does not owe a commission if they find a buyer on their own.

  • Open Listing Agreement: This type of agreement permits multiple brokers to market the property. The seller only pays a commission to the broker who brings in a buyer, making it less exclusive than the Florida Listing Agreement.

  • Buyer Representation Agreement: This document establishes a relationship where a buyer engages a broker to find a property. Like the listing agreement, it outlines the broker's obligations and the buyer's expectations, focusing on the buyer's interests rather than the seller's.

  • Lease Listing Agreement: This agreement is similar in structure to the Florida Listing Agreement but focuses on leasing rather than selling. It details the terms under which a property can be leased and the broker's role in finding tenants.

  • Property Management Agreement: While primarily for managing rental properties, this document shares similarities in outlining the responsibilities of the property manager (broker) and the property owner, much like the seller-broker relationship in a listing agreement.

  • Commercial Listing Agreement: This document serves a similar purpose in commercial real estate transactions, detailing the broker's authority to market and sell commercial properties, with specific terms tailored to commercial transactions.

  • For Sale by Owner (FSBO) Agreement: Although less formal, this arrangement allows sellers to market their properties independently. It shares the goal of selling a property but lacks the structured obligations typically found in a listing agreement.

  • Exclusive Right to Lease Agreement: This document is akin to the Florida Listing Agreement but focuses on leasing rather than selling. It grants a broker exclusive rights to lease the property, outlining the terms and conditions of the lease.

  • Real Estate Purchase Agreement: This agreement follows the listing agreement and outlines the terms of sale once a buyer is found. It details the purchase price, financing, and conditions, similar in structure but focused on the sale process.

  • Joint Venture Agreement: In real estate partnerships, this document outlines the roles and responsibilities of each party involved in a property transaction. It shares the goal of property management and sales but in a collaborative context.

Dos and Don'ts

When filling out the Florida Listing Agreement form, there are several important dos and don'ts to keep in mind. Following these guidelines can help ensure a smoother process and protect your interests.

  • Do ensure all personal information is accurate, including your name, address, and contact details.
  • Do clearly describe the property, including the street address and legal description, to avoid any confusion.
  • Do specify the price and terms of sale explicitly, including any financing options that may apply.
  • Do discuss and understand the broker's obligations and marketing strategies before signing.
  • Don't leave any sections blank; incomplete forms can lead to misunderstandings later on.
  • Don't agree to terms you do not fully understand; ask questions if needed.
  • Don't forget to disclose any material facts about the property that could affect its value.
  • Don't ignore the fine print; read all terms carefully, especially those related to fees and obligations.

Misconceptions

  • Misconception 1: The agreement guarantees a sale.

    • Many people believe that signing the Florida Listing Agreement guarantees that their property will sell. In reality, the agreement grants the broker the exclusive right to sell, but it does not guarantee a sale will occur.

  • Misconception 2: The seller can terminate the agreement at any time.

    • Some sellers think they can end the agreement whenever they choose. However, the agreement specifies a termination date, and early termination may require additional steps or fees.

  • Misconception 3: The broker can disclose all seller information to potential buyers.

    • While brokers must be honest, they also have a duty to maintain confidentiality. Sensitive information about the seller cannot be disclosed without permission.

  • Misconception 4: The seller is not responsible for any costs until the sale is complete.

    • Sellers often assume they only incur costs at closing. However, they may need to cover expenses during the listing period, such as marketing fees or repairs.

  • Misconception 5: The listing price is set in stone.

    • Some sellers believe that once they set a price, it cannot change. In fact, the seller can adjust the price based on market conditions or feedback.

  • Misconception 6: All brokers offer the same level of service.

    • Not all brokers provide the same marketing strategies or resources. Sellers should evaluate their broker's plan to ensure it meets their needs.

  • Misconception 7: The seller does not need to disclose property issues.

    • Some sellers think they can hide problems with the property. However, they are legally required to disclose known issues that could affect the buyer's decision.

  • Misconception 8: The seller can refuse to allow the property to be listed on the MLS.

    • While sellers can opt-out of MLS listings, this decision can significantly limit exposure to potential buyers, which may hinder the sale.

  • Misconception 9: The broker will only market the property to local buyers.

    • Many sellers assume that marketing is limited to their local area. Brokers often utilize a variety of platforms to reach a broader audience, including online listings and social media.

  • Misconception 10: The seller does not need to consult professionals for legal advice.

    • Some sellers believe they can navigate the process without legal help. However, consulting with professionals can provide crucial insights into legal obligations and potential pitfalls.

Key takeaways

  • Exclusive Rights: The Florida Listing Agreement grants the broker exclusive rights to sell your property. This means the broker is the only one authorized to market and sell your property during the agreement period.

  • Property Details: Clearly describe your property, including its address and any personal property included in the sale. Accurate descriptions help potential buyers understand what is being offered.

  • Price and Terms: Specify the asking price and any financing options. This section outlines how you want to sell your property, including cash offers or seller financing.

  • Broker Obligations: The broker is responsible for marketing your property and making diligent efforts to find a buyer. Understanding these obligations can help you hold the broker accountable.

  • Cooperation with Other Brokers: The agreement allows your broker to cooperate with other brokers, which can increase exposure for your property. This collaboration can lead to a quicker sale.