Exclusive Agency Agreement
1. Identification of Parties. Agreement made between [name] of [address] (Owner), and [name] of [address] (Broker). Broker is granted the exclusive agency to sell the Property identified in Paragraph 2. Broker is a real estate broker duly licensed under the laws of [state].
2. Description of Premises. Broker is granted an exclusive agency for sale of the following premises: [description of the premises], including the land and the buildings and other improvements located on it (Property).
3. Amount of Commission. Broker shall be entitled to a commission of ........ percent (........%) of the total sales price of the Property.
4. Entitlement to Commission. Broker shall be entitled to a brokerage commission if, as, and when title closes in the sale of the Property by Owner.
No commission shall be earned by and payable to Broker until a purchaser is procured by Broker, and a deed conveying title to the Property is delivered by Owner to such purchaser, and the full purchase price has been paid.
If title does not close for any reason (including default by purchaser or the unmarketability of title), except for the willful default of Owner, then Broker shall not be entitled to a commission or any other sum from Owner.
Broker agrees that if Owner procures a purchaser, through Owner's own efforts and not through any other broker, and sells the Property to such purchaser, then Broker shall not be entitled to receive brokerage commission or any other sums from Owner.
5. Term. This Agreement shall be in effect for a period of [number] months from the date it is signed by Owner. If during such period negotiations regarding the sale of the Property have commenced and are continuing, then this Agreement shall remain in effect until the transaction is completed or the negotiations terminate.
5. Term. This Agreement shall be in effect for a period of [number] months from the date it is signed by Owner. If the Property is sold within [number] months of the date of termination of this Agreement to a purchaser procured by Broker while this Agreement was still in force, then Broker shall continue to be entitled to Broker's commission in connection with such sale.
6. Representations of Owner. Owner represents that Owner is the sole owner in fee simple of the Property.