Broker Reactivation-Entire Right to Sell Contract

Pdf Summary

The LC50 is an exclusive right-to-sell listing contract between the listing broker's firm and the seller. The contract establishes the relationship between the brokerage firm and the seller, and defines the terms and conditions of the listing agreement. The contract outlines the responsibilities of both the broker and the seller, including the obligation to provide brokerage services and to pay compensation to the brokerage firm. It also includes provisions regarding the property description, affordable housing status, sale or lease of the property, listing period, brokerage relationship, brokerage duties, compensation, disclosures, possession, default, settlement costs, maintenance, mediation, attorney fees, and other additional provisions. The contract emphasizes the importance of obtaining legal and tax counsel before signing, and provides for notice and delivery of documents. It also states that the contract constitutes the entire agreement between the parties and supersedes any prior agreements. The contract is to be signed by all parties involved and can be executed in counterparts.

Asset Caption

Review the following for detailed instructor notes on important sections of this listing contract.

Keywords

LC50

exclusive right-to-sell listing contract

brokerage firm

listing agreement

compensation

property description

brokerage duties

disclosures

settlement costs

attorney fees