Real Estate Listing Contract Clauses
All too often, a seller will have different (and higher) expectations from what the listing broker actually planned to do for the marketing effort. This creates tension in the relationship and causes the seller to want to change brokers. Here, we address this potential problem with a written "Marketing Plan" to define expectations, plus I give the seller the option to terminate if I do not do my job. We also encourage sellers to nip potential future problems in the bud by doing an inspection.
BROKER NON-PERFORMANCE - If Broker does not promote the property reasonably as outlined in attached "Marketing Plan", then Seller may terminate this agreement before expiration date. In order for Seller to terminate for non-performance, Seller has to give Broker written notice of complaint of non-performance and the specific reasons for non-performance one month prior to termination with the option for Broker to cure specific problems to continue the listing.
INSPECTION REPORT RECOMMENDED - Broker recommends that Seller obtain a written inspection report covering the property and inclusions in order to discover ahead of time any problems that might occur during the due diligence period of a possible contract.
ACCESS TO RENTAL PROPERTY - Seller agrees to cooperate with Broker in a special program to enlist the cooperation of short-term renters in allowing the property to be shown during their occupancy. Seller will get cooperation of management company to participate in this program and will offer the participating guests the incentive of a refund of 1/2 the guests' accommodations bill if a showing during their occupancy produces a sale. Broker will offer these guests a restaurant gift certificate of $50 in return for their cooperation, also.
OPEN COMMUNICATION - Seller will discuss openly any problems that occur during the listing. If Broker does something Seller does not like or if Seller wishes for different promotional efforts to be carried out, then Seller will discuss these matters openly with Broker in order to seek resolution and a continued business relationship that will be beneficial to both parties.
Sample Real Estate Sales Contract Clauses
HOA DUES COULD BE MORE THAN REPRESENTED IN THE MLS - The regular HOA dues represented in the MLS and also re-stated in this contract are NOT necessarily correct. Seller states that a new budget could have been passed (thus changing the HOA regular dues) after the HOA dues information was input into the MLS, and Buyer acknowledges that this is a possibility and shall hold Seller harmless if the actual HOA dues are more than stated in the MLS and in the contemplated contract.
EVIDENCE OF LENDER APPROVAL - No later than the Loan Commitment Deadline, Buyer shall provide Seller with a copy of the written loan commitment described in section 5b of this contract. If Buyer gives Seller written notice of Buyer's inability to obtain the loan commitment, the notice shall be ineffective unless it is accompanied by written notice of rejection from Buyer's lender.