- [WRITTEN AMOUNT] Dollars ($[NUMERICAL AMOUNT]) (the “Commission”).
- The Commission is due and payable at closing by the Seller. The amount or rate of real estate commissions is not fixed by law. The commission is set by each Broker individually and may be negotiable between the Seller and the Broker.
- a) Leasing. During the Listing Period, if the Agency finds a ready, willing, and able Tenant that agrees to rent the Property, the Agency shall be due
- [WRITTEN PERCENTAGE] percent ([#]%) of the total rent amount stated in the rental agreement for the lease term. The lease term shall be defined as the period between the start and end dates listed in the rental agreement, not including any renewal period(s). If the Tenant agrees to rent the Property on a month-to-month basis, the Agency shall be due the equivalent of one (1) month’s rent (the “Commission”).
- b) Deed Type. The Seller agrees to convey the Property by [DEED TYPE] deed.
- c) Ready, Willing, and Able Buyer. Under this Agreement, the Commission shall be owed to the Agency if a ready, willing, and able Buyer is produced and refused by the Seller. The definition of a ready, willing, and able buyer shall include, but not be limited to, a purchase contract that meets or exceeds the Purchase Price and does not contain contingencies or terms that are unreasonable or outside of industry standards. The Seller has an obligation to negotiate all offers presented by the Agency in “good faith.”
- d) Litigation. If a suit is brought against the Seller to collect compensation provided herein, or if the Agency successfully defends any action brought against the Broker by the Seller relating to this Agreement or under any purchase contract relating to the Property, and the Agency prevails, the Seller agrees to pay all costs incurred by the Agency in connection with such action, including reasonable attorneys’ fees.
- 7. COOPERATION WITH OTHER AGENTS AND AGENCIES. The Seller agrees that the Agency may engage other licensed real estate agents to assist in marketing the Property and may share its Commission, as determined solely by the Agency. During the Listing Period, should a licensee represent a Buyer whose offer to purchase the Property is accepted by the Seller, then that licensee shall be entitled to a commission of [WRITTEN PERCENTAGE] percent ([#]%) (the “Commission Offered”), provided the Buyer completes the transaction.
- 8. DISCLOSED DUAL AGENCY. Due to certain events, the Broker may be required to act as the only licensee involved between the Seller and a Buyer to facilitate the transaction between the parties. Under such circumstance, the Broker shall disclose to the Seller their intention to act as a disclosed dual agent or similar role. If a Buyer is procured by the Broker, or by a licensee in the same Agency as the Broker, the Seller consents to the Broker acting in such a role and agrees to allow the Broker to collect compensation from the Buyer or other parties. While performing this role, the Broker agrees to conduct themselves in a manner that does not adversely affect the Seller or Buyer in any way, including, but not limited to, stating the Seller is willing to sell for a lesser price than the Purchase Price, stating the Buyer is willing to pay more than an offer that is made or suggested, or disclosing any type of financial information that would negatively affect the other party.