Limited Service Listing Agreement
FLORIDA ASSOCIATION OF REALTORS
This Limited Service Listing Agreement (“Agreement”) is between __________________________________________ (“Seller”) and JOHN M KNOUFF REAL ESTATE SERVICES. (“Broker”).
1. AUTHORITY TO SELL PROPERTY: Seller gives Broker the Exclusive Right to Sell the real and personal property (collectively “Property”) described below, at the price and terms described below, beginning __________, 2006 and terminating at 11:59 p.m. on_________________, 2006 (“Termination Date”). Seller certifies that Seller is legally entitled to convey the Property and all improvements. This Property will be offered to any person without regard to race, color, religion, sex, handicap, familial status, national origin or any other factor protected by federal, state or local law.
2. DESCRIPTION OF PROPERTY:
a) Real Property Street Address: _____________________________________________________________
b) Legal Description: ______________________________________________________________________
c) Seller agrees to offer for sale through the services provided by Broker 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 Agreement entered into between Seller and Buyer and shall be transferred free of any liens.
3. PRICE AND TERMS: Property is offered for sale on the following or other terms acceptable to Seller:
a) Price: $___________ (Seller is solely responsible for determining the appropriate listing price.)
b) Financing Terms: xCash xConventional oVA oFHA Other ________________________________
4. BROKER OBLIGATIONS AND AUTHORITY:
a) Seller authorizes Broker to place the property in a multiple listing service (MLS), to offer compensation to cooperating brokers.
b) Seller authorizes Broker to report to the MLS/Association of Realtors this listing information and price, terms and financing information on any resulting sale. Seller authorizes Broker, the MLS and/or Association of
Realtors to use, license or sell the active listing and sold data.
c) The contact information provided in the MLS will be the Seller’s contact information so cooperating brokers can contact the Seller directly.
5. SELLER OBLIGATIONS:
a) Seller shall indemnify Broker and hold Broker harmless from losses, damages, costs and expenses of any nature, including attorney’s fees and from liability to any person, that Broker incurs because of (1) Seller’s negligence, representations, misrepresentations, actions or inactions, (2) the use of a lock box, (3) the existence of undisclosed material facts about the Property, or (4) a court or arbitration decision that a broker who was not compensated in connection with a transaction is entitled to compensation from Broker. This clause will survive Broker’s performance and the transfer of title.
b) Seller shall 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. Seller represents there are no material facts (building code violations, pending code citations, unobservable defects, etc.) other than the following:
________________________________________________________________________________________
Seller will immediately inform Broker of any material facts that arise after signing this Agreement.
c) Seller, upon entering into a contract of sale with a buyer, agrees to notify Broker, within 48 hours, of the fact that Property is under contract, and will advise Broker of the name and phone number of the settlement agent or attorney and provide a complete fully executed copy of the purchase/sale agreement and all addendum thereto. The failure to do so will result in a $100.00 fine to Broker, which will be charged to the Seller collectable at closing and/or through judicial action at the option of Broker. · Upon the sale of the Property, Seller agrees to deliver to Broker, the following documents or information:
· Copy of HUD-1 settlement statement or closing statement
· Copy of Sales Contract including all addenda and amendments, if any, and written verification by the escrow agent that all required deposit(s) have been paid.
· Seller’s new address
Seller may cancel this Agreement during the terms stated above with no penalty to the Seller. No refund will be issued upon cancellation. Seller may not terminate this Agreement while the Property is under contract. If this agreement expires while the property is under contract, Seller’s obligations under this Agreement continue through the closing and transfer of Property.
d) Seller represents that the Property is not listed with any other broker.
e) For one hundred and eighty (180) days following expiration of this Agreement, any cooperating broker shall continue to be entitled to the compensation described in this Agreement should Seller transfer Property or any interest in the Property to any prospects procured regarding the Property prior to expiration.
6. JOHN M KNOUFF REAL ESTATE SERVICES SHALL NOT BE AN ESCROWEE:
Seller shall not execute a sales contract that stipulates or requires Broker to hold earnest money or a possession escrow.
7. SELLER'S MANDATORY DISCLOSURES:
Seller understands that Seller has a duty under Florida law to disclose to potential buyer facts known to the Seller which materially and adversely affect the value of the Property, including violations of governmental laws, rules and regulations, and which are not readily observable by a buyer. Seller understands that Florida law requires Broker to disclose to any buyer all facts, which materially affect the value of the Property actually known by Broker, which are not readily observable by any buyer. Seller understands that a licensed real estate broker or salesperson (”licensee”) working with a buyer may represent that buyer, and may be required to disclose to the buyer any information given to him by Seller. Broker shall not be responsible for making any disclosure to Buyer. Seller expressly releases Broker from any responsibility or liability regarding disclosure requirements whether required by statute or otherwise. Broker recommends that Seller consult with legal counsel concerning disclosure requirements or the completion of any disclosure forms. Seller agrees to indemnify and hold Broker harmless for any violation of any ordinance, regulation, and statute of law regarding Seller’s disclosure obligations.
8. COMPENSATION:
Seller agrees to compensate Broker for performing the responsibilities delineated in Paragraph 4 $375 (THREE HUNDRED SEVENTY FIVE) regardless whether the property sells and no matter who sells the property, whether by Broker, Seller or other real estate licensee.
Seller shall pay a cooperating commission of ______% percent of the total purchase price at closing to a licensed Buyer’s Broker or Transaction Broker (“Co-Broker”) in the event the Co-Broker represents or introduces the property to a ready, willing and able buyer and the buyer enters into an Agreement with the Seller to purchase the property.
Broker will make every effort to direct any leads to Seller, but does not guarantee an offer or sale from any prospect directed to Seller. In the event that Broker brings a buyer to Seller, Seller does not have to pay Broker cooperating commission. Under this Agreement, Seller can sell his/her Property himself/herself to any buyer not procured or represented by a participating Realtor, in which case no cooperating commission is due.
9. AGENCY DISCLOSURE
Unless Seller and Broker have entered into a separate representation agreement, Broker does not represent the Seller as either a Single Agent or as a Transactional Broker.
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES PROVIDE THIS NOTICE TO POTENTIAL SELLERS AND BUYERS OF REAL ESTATE.
You should not assume that any real estate broker or sales associate represents you unless you agree to engage a real estate licensee in an authorized brokerage relationship, either as a single agent or as a transaction broker. You are advised not to disclose any information you want to be held in confidence until you decide on representation.
NO BROKERAGE RELATIONSHIP NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES WHO HAVE NO BROKERAGE RELATIONSHIP WITH A POTENTIAL SELLER OR BUYER DISCLOSE THEIR DUTIES TO SELLERS AND BUYERS.
As a real estate licensee who has no brokerage relationship with you, JOHN M KNOUFF REAL ESTATE SERVICES and its associates owe to you the following duties:
1. Dealing honestly and fairly;
2. Disclosing all known facts that materially affect the value of residential real property which are not readily observable to the buyer.
3. Accounting for all funds entrusted to the licensee.
10. ADDITIONAL TERMS:
Date:__________________ Seller’s Signature: _________________________
Telephone #‘s: Home_____________ Work_____________ Cell_____________ Fax _____________
Address: _____________________________________________________ E-mail: _____________
Date:__________________ Seller’s Signature: _________________________
Telephone #‘s: Home_____________ Work_____________ Cell_____________ Fax _____________
Address: _____________________________________________________ E-mail: _____________
Date: _________________ Authorized Broker: __________________________
Brokerage Firm Name: JOHN M KNOUFF REAL ESTATE SERVICES
Address: 508 NW 47th St., Pompano Beach, FL 33064 Telephone: 954-709-0901
Copy returned to Seller on the ___ day _____________ by: personal delivery mail facsimile.
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