Services: In consideration of payment received for this professional service Agreement, Company agrees to:
- List the property on the primary Multiple Listing Service unless a better option is available at the discretion of the listing broker, unless otherwise requested by the seller.
- Authorize the MLS to distribute Sellers listing to Zillow.com, Trulia.com, Realtor.com, and wherever else possible through Company's separate syndication Agreements.
- Provide Seller with commonly used disclosures for use in connection with the listing of the Property.
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Updating listing information in a timely manner at the seller’s request
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Displaying the Seller’s contact information on the listing where possible, encouraging buyers to contact the Seller directly.
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Forwarding any property inquiries, showing requests, etc. directly to the Seller
While the Broker will assist in good faith with Seller questions, detailed real estate advice and pricing advice are not included in this service.
No Other Broker Contracts: Seller warrants that this property is not currently listed with another broker, and will not list this property with another broker during this Contract's term, unless Seller first cancels this contract (see Cancellation).
Limited Service Listing: This is considered a Limited Service Listing or MLS Entry Only service.
Seller will coordinate all aspects of the selling process outside of this MLS advertising service, including pricing the property, showing the property, receiving offers, negotiations, and general communication between parties. Seller is encouraged to hire an attorney to review paperwork, provide advice, and assist with the final sale.
Seller is advised to make arrangements for the holding of escrow monies (earnest money deposits from the buyer) with an attorney, or title company, subject to all NC laws and regulations.
No Guarantee: Seller understands that this Agreement does not guarantee the sale of the Property.
Contract Acceptance:
- Seller agrees to notify Company within 24 hours of the date when a contract is executed and becomes a contingent or pending sale and also when the Property closes. The failure to do so may result in a fine to the Company by the MLS for late data entry. Seller agrees to pay any MLS fines stemming from seller’s non-compliance. In addition, seller agrees to pay a Compliance Fee specified below if the seller does not provide documents within 24 hours.
- An executed contract (or "accepted contract") is when both Buyer and Seller have signed a negotiated contract for the sale and purchase of the Property. Seller must notify Company of the contract within 24 hours of the time of signing. If Seller waits until after the attorney review period and after the inspection period, it may be too late, the fine may have already been assessed, and Seller shall be responsible for any and all fines.
- Seller must provide Company a complete copy of all contracts, forms and addendums for any purchase agreement or lease agreement into which Seller has entered for Property.
- Seller must provide Company the name and contact information for any Buyer or Buyer’s.
- Seller must provide Company the name and contract information of the settlement agent or Sellers' attorney at least 72 hours prior to closing.
- Seller or Sellers’ attorney will provide a complete copy of the HUD-1 or ALTA settlement statement at least 24 hours prior to closing.
Seller warrants that all property information provided is accurate to the best of their knowledge, and accepts full responsibility and liability for the accuracy of information provided.
Seller agrees that the Broker may update MLS listing data at their discretion, usually with regards to compliance, accuracy, fair housing guidelines, with respect to industry best practices, etc.
If Seller is unable to be reached for an extended period of time, the listing may be temporarily deactivated at the Broker's discretion to verify up to date listing status, accuracy, and remain in compliance.
Earnest Money: Company does not hold earnest money. Earnest Money must be deposited into a Trust Account of the Buyers’ Agent or Title Company and cannot be held in a personal or businesschecking account.
Residential Square Footage Guidelines: Seller agrees to reimburse and defend Broker against any claims or liabilities arising as a result of inaccurate or disputed square footage.
Alterations Required in Writing and Signed by All Parties: No amendment or alteration to the terms, with respect to the amount of commission or with respect to the time of payment of commission, shall be valid or binding unless made in writing and signed by the parties.
No Broker Signatures for Closing: Being an online listing service, Broker has limited knowledge of the property for sale, the Seller, and other conditions of the sale. Accordingly, as a policy, Broker does not sign any documents associated with the closing, including but not limited to mortgage documents, FHA addendums, lead paint, seller disclosures, etc.
Seller will communicate upfront the Broker's limited involvement in the transaction to all parties such as buyer agents, attorneys, lenders, underwriters, etc. Broker reserves the right to refuse to sign any document. In the event that the Broker agrees to sign, a $100 fee will be assessed to Seller for the Broker's cautious review of the document and any added liability that may arise as a result of signing. As this scenario is avoided by upfront communication by the Seller to all parties, Broker is not responsible for any resulting delays or cancellations of the sale.
Latent Defects: Seller acknowledges and represents that there are no latent defects or facts materially affecting the value or desirability of the Property, including but not limited to any violation of any local government code. Whether or not said facts are readily observable, Seller is under a duty to disclose said facts
to the Buyer and Company. Seller has fully reviewed this Agreement and warrants the accuracy of all information. Seller agrees to indemnify and to save and hold harmless the Company and those relying on information contained in this Agreement for and against damages resulting from any inaccuracy and/or the Sellers' failure to disclose any information. Seller has not disclosed to Company any defects except as set forth herein. Seller agrees that where Seller knows of or
becomes aware of facts materially affecting the value of the Property, seller is under a duty to disclose said facts both to the Buyer and Company. If Seller knows of or becomes aware of such facts, he/she shall set them forth in writing on the approved state disclosures. This duty shall continue through to date of closing. (Note: Any state and property disclosures submitted to Company by Seller shall be considered attached to this document.)
Marketable Title: Seller warrants and represents that no later than at the time of closing; he/she shall be legally able to convey marketable (or "merchantable") title to the property. In the event the transaction fails to close, because Seller is unable to convey marketable title, then Company shall retain the full professional fee. Further, in the event the transaction fails to close because of failure or inability of Seller to bring the property up to local governmental code requirements, then
Company shall retain the full professional fee.
Property Characteristics: Seller agrees to state honestly the dimensions, characteristics, and condition of the property to the best of their knowledge. Company assumes no liability for inaccuracies, errors, or misstatements made by Seller. Company does not conduct any survey of Property to verify accuracy of any information provided by Seller and is not to be held responsible for the accuracy of the information. Seller has reviewed the information shown on this Agreement and the data input forms provided to Company and hereby acknowledges it to be true and correct.
Property Condition: Seller agrees that the responsibility for the care and custody of Property shall not be Company's and Company shall not be liable to Seller for any damage that may occur to Property. Seller shall make arrangements for any and all showings of Property by appointment only with Buyers or to provide a lockbox - at Sellers expense - to make the Property available at Sellers
sole discretion. The Company shall be held harmless for any and all liability, claim, judgment, obligations or demands, including reasonable attorney fees, arising as a result of the Sellers use of a lock box, or the actions of potential customers or Buyer Agents.
Photos: Seller must provide at least one photo of the property to be displayed on the listing. Photos provided may not have previously appeared on the Multiple Listing Service under a different broker, unless the broker gives their permission in writing. Seller warrants that listing photos provided are their own, or that they have permission to use them, and accepts full responsibility and liability for the use of photos provided.
Cancellation: There is no cancellation fee and Seller may cancel this listing at any time prior to the expiration date listed above. In the event the seller decides to withdraw their property from the MLS, Seller may do so by giving written notice (email or at nick@chosenrealtyco.com) to Company at any time provided there is not then a contract pending on the Property. Seller may not terminate this Agreement while the property is under contract. If this Agreement expires while the property is under contract Seller’s agreed terms as set in this agreement shall survive termination and continue until the closing. Seller must pay said agreed Commission if, within thirty days after listing expiration date or termination, the Seller enters into contract to transfer the property to any buyer who was produced by listing agent efforts during the term of the listing contract.
Procuring Cause: If a REALTOR® successfully shows procuring cause as defined by the Ohio Division of Real Estate, Seller shall be bound by any agreement signed directly with a buyer’s agents regarding compensation. Seller assumes sole liability for any procuring cause claims or lawsuits. Liability may include, but is not limited to, paying the commission, court fees, attorney fees, or other remedies the court finds equitable.
Authority: The person(s) signing this Agreement represents that he/she is authorized to enter into this Agreement. A signature transmitted by email or an electronic signature shall be deemed to have the same effect as an original signature.
Attorney Fees: In connection with any litigation arising out of this Contract, the prevailing party shall be entitled to recover all costs incurred including reasonable attorneys' fees for services rendered in connection with such action.
Other: The descriptive headings used are for convenience only. The pronouns used shall include either gender (or both), singular and plural. If any provision of this Agreement is found invalid or unenforceable, the remaining provisions shall remain in full force. No alterations to the Agreement are allowed. If any changes are made, those changes are not binding until initialed by all parties. Seller understands the Company is limited to performing the functions described herein.
Equal Housing Opportunity: Seller acknowledges that this property is offered in compliance with federal, state, and local antidiscrimination laws.
Federal and state laws make it illegal for Seller, Broker, or anyone to use RACE, COLOR, RELIGION, or RELIGIOUS CREED, SEX, DISABILITY (physical or mental), FAMILIAL STATUS (children under 18 years of age), AGE (40 or older), NATIONAL ORIGIN, USE OR HANDLING/TRAINING OF SUPPORT OR GUIDE ANIMALS, or the FACT OF RELATIONSHIP OR ASSOCIATION TO AN INDIVIDUAL KNOWN TO HAVE A DISABILITY as reasons for refusing to sell, show, or rent properties, loan money, or set deposit amounts, or as reasons for any decision relating to the sale of property.
The broker shall conduct all brokerage activities in regard to this agreement without respect to the race, color, religion, sex, national origin, handicap, or familial status of any party or prospective party.
Seller also acknowledges that many jurisdictions have stricter laws that extend protection to political beliefs, income, sexual orientation, affectional orientation, and other factors. Seller agrees to investigate and comply with all laws regarding discrimination.
No Control of Commission Rate or Fees: The Broker's compensation for services rendered in respect to any listing is solely a matter of negotiation between the Broker and the Owner and IS NOT set by law, fixed, controlled, suggested, recommended, or maintained by the board/association, the MLS, or by any persons not a party to the listing agreement.
MLS Fines:
- I understand that I am required to send all executed transaction related documents pertaining to this property to the Company within 24 hours while this agreement is valid. These documents include, but are not limited to, accepted offers, offer terminations, and settlement statements.
- I authorize the settlement agent (attorney, title agent/company, or lender who's handling the closing) on this transaction to release the final, fully executed settlement statement to the Listing Agent promptly after the closing. If there are any extensions or amendments to the contract, I also authorize those to be released to the Listing Agent promptly. Finally, if I or the settlement agent do not meet these requirements, and if the Listing Agent reaches out to the Buyer's Agent, I explicitly instruct the buyer agent to release these documents to the Listing Agent.
- The settlement agent, the listing agent, buyer agent, and any other party to the transaction can share the documents directly with the Company.
- If any MLS penalties or fines are issued due to my non-compliance, I agree to pay these fines plus a $100 Compliance Fee. I authorize the Listing Agent to charge me thesepenalties & fees and will submit payment promptly to the directed portal. Examples of such penalties include failure to report a change of status on time, failure to submit executed documents to support the change of status within the stipulated 24 hours, use of photos that I do not own copyrights for, etc.