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EXCLUSIVE AGREEMENT TO MARKET PROPERTY THROUGH THE MULTIPLE LISTING SERVICE

 

                In consideration of the services provided by econoWest realty . (“econoWest”) for listing 

______________________ henceforth referred to as “(Seller”), Property with the Multiple Listing Service (MLS) the parties agree as follows:

 

1.         PROPERTY:  Seller represents that Seller is the legal titleholder to the Property commonly known as ______________________, in the City of ______________ and State of Arizona (“Property”) and has the right to sell the Property.  Seller agrees to offer for sale through the services provided by EconoWest the Property, fixtures and all improvements thereon.  All personal property to be conveyed at the time of sale shall be listed by Seller in the Real Estate Sales Contract entered into between Seller and Buyer and shall be transferred free of any liens. 

 

2.         SELLING PRICE:  The Property and all improvements are offered for sale at a selling price of $__________________________. Seller is solely responsible for determining the appropriate price.

 

3.         SELLER’S OBLIGATIONS, MLS INFORMATION and VERIFICATION FORM: 

 

(a)        Seller shall provide econoWest with all the information requested on its web site and represents that said information is true and accurate to the best of Seller’s knowledge. Seller is responsible for any and all inaccuracies contained in the information provided to econoWest and agrees to be responsible at closing for any fines assessed by the MLS for any MLS infractions caused by Seller. Seller understands that econoWest does not conduct any investigation of the Property to verify the information provided by Seller and is not responsible for the accuracy of the information. 

 

(b)        econoWest shall input the above referenced information with the local MLS in accordance with local MLS rules and regulations.  econoWest shall complete a verification Form setting forth all of the information provided by Seller and as input on the MLS.  Seller agrees to review, verify, sign and return the Form, with corrections, if any, to econoWest within 24 hours of receipt.  Seller agrees to be responsible for any inaccuracies in the signed Form.  In the event econoWest does not receive the signed Form within said time, econoWest may remove the listing from the MLS until the Form is received.  Nothing contained herein shall serve to extend the term of this Agreement or entitle Seller to a refund of the service fee paid.

 

(c)        Seller understands that econoWest may only make modifications or changes to the MLS if instructed to do so by Seller in writing.  In the event Seller desires to modify or change the information in the MLS, Seller shall transmit the modifications or changes to econoWest in writing and econoWest shall make the modifications and changes in the MLS pursuant to the MLS rules.

 

(d)        Seller agrees to make the Property available to MLS members at all reasonable hours for showing to prospective Buyers during the term of this Agreement.

 

(e)                Seller understands and accepts that econoWest is not obligated to find, obtain, or refer a buyer, or buyer generated leads for the purchase of Seller’s Property and that the only services provided by it are those listed herein.

 

4.TERM: 

 

(a)        The term of this Agreement shall commence on ________________ and terminate on _______________, not to exceed 365 days. This Agreement may be extended by paying, at least 7 days prior to the expiration of a term, a reduced service fee of $150.00 and provided that the initial and extended terms do not exceed 365 days. 

 

(b)                Seller is prohibited from entering into any other Listing Agreement to market and sell the Property during the initial or any extended term of this Agreement.

 

5.         SERVICE FEE:  Seller agrees to pay at the time of entering into this Agreement and in the manner provided herein a service fee of $599.00 for the initial term of this Agreement is in effect and econoWest shall not be entitled to any commission or other compensation as a result of the sale of Seller’s Property, except as provided in paragraph 9 below. 

 

The $599.00 fee charged is for placing the initial information into the MLS.  There are no other fees charged for subsequent changes made to the information provided to the MLS or for cancellation of the listing. 

 

6.         SELLER’S ACKNOWLEDGEMENT OF ECONOWEST’S LIMITED DUTIES: 

 

(a)        econoWest agrees to enter the information provided by Seller with the local MLS in the region where the property is located, and all affiliated websites, during the term provided herein.  This Agreement creates an Exclusive Agreement to Market Seller’s Property and limits the performance requirements of econoWest as set forth herein.  econoWest is not representing Seller as a full service Real Estate Agency but rather has limited obligations to Seller.  econoWest has no obligation to prepare or negotiate, on Seller’s behalf, a real estate contract for the sale of the Property.  Seller acknowledges that selling the Property may be complicated and may require professional legal assistance.  Seller agrees to obtain assistance, as Seller deems necessary.  No other agreement, expressed or implied, shall be held to impose any greater relationship than that set forth herein.  Seller waives any claim or cause of action it may have against econoWest, its directors, officers, agents and employees arising as a result of any act or omission of econoWest.  Seller accepts the responsibility to comply with all ordinances, regulations and statutes pertaining to Seller’s offer for sale and sale of the Property.  Seller does not waive any rights guaranteed by the regulations and statutes of the State.

 

            (b)        econoWest is not charged with any responsibility or custody of the Property, its management, maintenance, upkeep or repair.

 

            (c)        If permitted or unless otherwise directed by Seller, econoWest may provide Seller’s address and telephone in the MLS and all affiliated web sites.

 

7.                   SELLER’S OBLIGATION TO COMPENSATE A BUYER’S BROKER.    

 

(a)        Other than the $599.00 fee Seller agrees to pay econoWest, Seller is only required to pay a commission of 3 (%) percent, to a licensed Buyers Broker, Transaction Broker or Facilitator (as directed by econoWest) who represents and introduces the Property to a ready willing and able Buyer pursuant to a written or oral Agreement with a valid Real Estate License.

 

(b)        This agreement permits the Seller to sell the Property to a Buyer who was not introduced to the property or represented by a Buyer’s Broker, Transaction Broker or Facilitator. Seller is not required to pay a Buyers’ Broker, Transaction Broker or Facilitator a commission or fee, unless the Buyer has a written or oral Representation Agreement with his/her Broker.

 

(c)        However, if Seller sells, exchanges or trades, leases or grants an option on the Property to a Buyer or third party to whom it was introduced through a Buyer’s Broker, Transaction Broker or Facilitator, during the term of this Agreement and within ninety (90) days after expiration of this Agreement, Seller agrees to pay to the broker (as directed by econoWest) a commission of 3% of the sales price.  However, Seller shall not be obligated to pay a commission after expiration of this Agreement if Seller has entered into a valid written Agreement with another Broker.

NOTICE: The amount or rate of the real estate commission is not fixed by law.  They are set by each broker individually and may be negotiable between the Seller and Broker.

 

8.         ECONOWEST SHALL NOT BE AN ESCROWEE:  Other than the service fee paid by Seller for EconoWest’s services, Seller shall not tender to econoWest or any broker/agent employed by econoWest, at any time, any money for deposit or to hold on Seller’s or Buyer’s behalf.  econoWest’s broker/agent employees are expressly prohibited from accepting any money from Seller. Seller shall not execute a sales contract that stipulates or requires econoWest to hold earnest money or a possession escrow.

 

9.         CANCELLATION and SELLER’S REFERRAL POLICY:  This Agreement may be cancelled by either party at any time before the end of a term, in writing, and with 48 hour notice. 

 

10.        DISCLOSURE:  Seller acknowledges that the law may require Seller to provide a Buyer with a Residential Property Disclosure form, a Lead Based Paint Disclosure form or other similar forms.  econoWest shall not be responsible for making any disclosure to Buyer on Seller’s behalf and Seller expressly releases econoWest from any responsibility or liability regarding disclosure requirements whether required by statute or otherwise.  econoWest recommends that Seller consult with legal counsel concerning Seller’s disclosure requirements or the completion of any disclosure form.  Seller agrees to indemnify and hold econoWest harmless for any violation of any ordinance, regulation, statute or law regarding Seller’s disclosure obligations.  It is the policy of EconoWest not to independently measure and calculate the square footage of properties. 

 

11.        NOTICE OF CONTRACT AND CLOSING:    Within 24 hours and by either facsimile or overnight express mail next day delivery Seller agrees 1) upon signing a Real Estate Sale Contract to forward a copy of the executed Contract to econoWest and 2) upon closing the sale of the Property to forward a copy of the closing statement to econoWest.

 

12.        LOCKBOX (Optional): 

(a)        At Seller’s option, Seller may lease an MLS lockbox from econoWest as provided for in paragraph 5 above.  A lockbox attaches to the Property and holds a key permitting access to the Property by licensed real estate brokers.  Seller shall hold econoWest, its directors, officers and employees harmless from any and all liability, claims, judgments, obligations or demands, including reasonable attorneys’ fees, arising as a result of the use of the lockbox.  Seller should remove or safeguard personal valuables while the lockbox is being used. 

 

(b)    If the Property is currently being leased, Seller must comply with local laws regarding access to the premises and, in most states, advise tenants of the foregoing and obtain tenants authorization consenting to the use of a lockbox for access to the Property.

 

13.        “FOR SALE” SIGN:

 

(a)        The only sign permitted to be used to advertise the sale of the Property shall be the “For Sale” sign provided to Seller by econoWest.  Seller agrees not to display any other sign on the Property promoting or marketing the sale of the Property during the term of this Agreement.  Seller’s breach of this section will entitle econoWest to remove the listing from the MLS.  Nothing contained herein shall serve to extend the term of this Agreement or entitle Seller to a refund of the service fee paid.

 

(b)                Upon entering into a Contract for Sale of the Property, Seller shall affix the “Sold” sticker to the sign pursuant to the instructions included with the sign.

 

14.        EQUAL and FAIR HOUSING LAWS.  Seller acknowledges pursuant to the Equal Housing Opportunity laws that Seller has a responsibility and a requirement not to discriminate in the sale of Property and the broker shall conduct all of his/her brokerage activities in regard to this agreement without respect to the race, color, religion, sex, national origin, handicap or familial status of any buyer, seller or prospective seller. Seller cannot instruct econoWest to convey for you any limitations in the sale of the Property based upon any of the foregoing as econoWest is also bound by the law not to discriminate.

 

15.       DISPUTE RESOLUTION: 

(a)        In the event of controversy or dispute arising from this Agreement or the real estate transaction contemplated herein and excluding disputes described in paragraph b below, the parties waive a trial by jury and agree to submit such dispute to the American Arbitration Association and to be bound by the rules promulgated by the AAA.  In the event an award is entered against econoWest, the parties expressly agree that econoWest’s liability is limited to the amount of the service fee paid by Seller.  The prevailing party, if applicable, shall be entitled to recover reasonable attorneys’ fees and costs from the non-prevailing party. 

 

(b)        In the event a dispute arises between econoWest and any licensed real estate broker who makes a claim for a commission as a procuring broker, Seller agrees, in the event an award is entered against econoWest by the Realtor’s arbitration board finding that econoWest owes a commission to the broker as a result of the sale of Seller’s Property, to pay to econoWest the amount of the award with ten (10) days thereafter.

 

16.        MISCELLANEOUS PROVISIONS:

(a)        OWNER’S of MULTIPLE PROPERTIES:  A single owner selling multiple properties in the same sub-division, complex or building, must list each property individually with econoWest.  Multiple property listings will be offered at the preferred customer discount rate.

 

(c)        ENTIRE AGREEMENT:  This Agreement contains the entire Agreement and may only be modified by writing signed by all parties hereto.

(d)        GOVERNING LAW:  This Agreement shall be governed by the laws of the state in which the Property being listed is located.

                        (e)        ASSIGNMENT:  This Agreement may not be assigned by the Seller without the express written consent of econoWest.

                        (f)        SIGNATURES:  The signatures of the parties on this Agreement confirm that the parties have read and accept all the terms and provisions to this Agreement.

                        (g)        BINDING:      This Agreement shall be binding upon and inure to the benefit of the parties hereto and the respective heirs, personal representatives, successors and assigns.

                        (h)        BUSINESS RELATIONSHIP ADDENDUM:  If required by state law, an Addendum will be attached hereto disclosing the parties business relationship.  Nothing contained in the Addendum shall alter the duties responsibilities as set forth herein of econoWest’s discounted services.

                        (i)         PRIOR AGREEMENTS:       This Agreement supercedes all other Agreements entered into between the parties and in the event there is a conflict between this Agreement and any other Agreement between the parties hereto the terms and provisions of this Agreement shall control and be binding upon the parties.

                (j)            NO OTHER LISTING AGREEMENTS:        Seller certifies that the property is not listed with any other REALTOR.

 

 

 

ECONOWEST REALTY.                                                                              SELLER(S) or PRINCIPAL(S):   ______________________________                                                  ______________________________ Jimmy L. Huddleston, Broker                                                                                                               Seller                                                                                                                 ______________________________                                                                                                                 ______________________________                                                                                                                                                                 Seller                                                                                                               ______________________________   Date:________________________                                                 Date:___________________________

 

End

 MLS Listing Package!