CT - EXCLUSIVE AGENCY LISTING AGREEMENT (LIMITED SERVICE)

(In exclusive agency listing agreements, the seller retains the right to sell the property on her/his own without any compensation obligation towards the listing Broker.) 

COMMISSIONS DISCLOSURE AND ACKNOLEDGEMENT

COMMISISONS ARE FULLY NEGOTIABLE AND
NOT SET BY LAW, RULE OR REGULATION.

• Seller is not required to offer a commission in advance.  
• Buyer agents will probably ask for Seller to pay a Buyer Agent commission. This is a negotiable term as any other term in the offer.
• Seller is responsiable for negotiating the commission with the Buyer agent.

IMPORTANT TO REMEMBER:  Broker takes a 0.25% commission at closing ONLY when the buyer is represented by an Agent.

Seller must consider this when offering commission and negotiating the offer.  (example: if seller expects to pay 2.5% ... seller must offer 2.25% to the buyer agent and agree to 2.25%).

(this does not increase Seller’s expected out of pocket as it is NOT an additional charge to the Seller but a deduction to the commission for the Buyer Agent).

IF BUYER IS NOT REPRESENTED BY AN AGENT NO COMMISISON IS DUE

RENEWALS: Seller has the right to renew this Agreement for additional 12-month periods at no additional cost by notifying Broker prior to expiration. This Listing Agreement automatically terminates if the property is sold, expires without renewing OR when this Agreement is canceled (whichever happens first). Parties have the right to cancel the service at any moment without any charge or future obligations toward the other party. 

BROKER AGREES (AND SELLER AUTHORIZES BROKER) TO:

• List the property in the MLS using the information provided by the seller.
• Syndicate the property information to Internet Real Estate Platforms (like zillow and Realtor.com) … as provided by the MLS, and to Brokerages using the MLS data-feed (aka IDX) (seller may opt out)
• Upload pictures provided by the seller to the MLS (up to the MLS limit)
• Provide standard forms (including disclosure forms).
• Forward all inquiries, offers, communications and documentation to Seller.
• Make changes to the listing as per seller’s requests and as allowed by the MLS.
• Post Open Houses upon Seller’s request.
• Set up ShowingTime® platform for showing management. (If seller requests) 

SELLER MUST:

• Must make all legally required disclosures, including all facts that materially affect the Property’s value and are not readily observable or known by the buyer.
• Must complete and return disclosure forms to the Broker within 48 hours for posting in the MLS.
• Inform the BROKER immediately upon signing a contract and any other changes to the 
• Immediately inform the Broker of any changes to the status of the property (eg: an offer is signed, an expected closing date is postponed, the property is not available for showings, the sale closed, etc.).**
• Provide a copy of the executed contract to the Broker**.
• Make the property available for showings (within 72 hours of a request)
• Must respond to all inquiries and to all offers directly to the interested person (even if rejecting the offer).
• Must respond to Broker communications within 24 hours.

 ***The MLS monitors listings for accuracy and timely updates and if a fine is charged to the Broker caused by the Seller, then Seller will reimburse Broker for the fine amount.

 SELLER’S ACKNOWLEDGEMENTS (IMPORTANT)

• If the Buyer is NOT represented by an agent, there is NO COMMISSION DUE at all.
• Commission CAN NOT be posted or communicated via the MLS.
• Seller agrees to pay 0.25% commisison to Broker at closing ONLY if the buyer is represented by an Agent; seller must consider this when offering and negootiating commissions and offer and negotiate and agree to a commission that reflectes this 0.25% so the seller doesn't pay more than expected.
• If Seller is offering a buyer-agent commission in advance, Seller authorizes Broker to disclose such commission amount to any real estate agent or broker who inquires about it. In this case, the Broker will deduct a very small 0.25% form the buyer agent commission and offer the balance to the buyer agent. (this does not increase Seller’s out of pocket as it is NOT an additional charge to the Seller but a deduction to the commission for the Buyer Agent.
• Seller attests that Seller (signing below) is legally entitled to offer for sale and convey the Property.
• Seller is responsible for complying with all applicable local, state, and federal laws.
• Seller releases Broker from liability for any breach of this contract by Seller..
• Seller attests and acknowledges that seller has copyright over the pictures provided and that these are not downloaded from anywhere in the Internet, are not copied from previous listings and were not paid by or taken or provided by anyone else other than the Seller. 

Broker strongly suggests and highly recommends that the Sellers seek and use legal representation as well as tax professional guidance even when real estate agents are involved.  Broker is not an attorney nor a CPA and can’t and will not give legal or tax advice. 

ENTIRE AGREEMENT

This is the entire agreement between the parties and is governed by the laws of the State of Connecticut. Any changes to this agreement must be in writing and signed by both parties. 

Signature acknowledgement: The parties agree that electronic signatures shall be deemed as legally binding as original signatures for the purposes of this Agreement. Furthermore, any instructions, approvals, or communications received from the Seller’s verified email address shall be considered valid, written, and actionable instructions for the purposes of executing the limited services outlined in this Agreement.

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 CT - REQUIRED AGENCY DISCLOSURE