Exclusive Agency Agreement
An Exclusive Agency Agreement Template is an restrictive agreement (involving a good, service, market, or territory) that binds a principal and an agent in an association under which neither can make any similar deals with the other’s competitors (for a specified period).
An Exclusive Agency Agreement that appoints a purchasing agent for the purchase of the goods. Exclusive agency clauses cover:
- Definitions
- Grant
- Principal’s obligations
- Termination
- Termination consequences
- Miscellaneous
- Retention of title
- Reservation of rights
- Interest
- Receipt
- Force majeure
- Severance
- Whole agreement
- Prior agreements
- Discretion
- Change of address
- Notices
- Headings
- Joint and several
- No partnership
- Assignment
- Jurisdiction
12 pages
Exclusive Agency Agreement
Exclusive agency agreements are commonly used for the sale of residential property. In this kind of agreement, you give exclusive rights to one agent to sell your property. This may entitle the agent to be paid commission if the property is sold during the fixed term of the agreement, even if the property is sold by you or by another agent. The agent may also be entitled to commission if the property later sells to a person who started negotiating for the property with the original agent.
An Agency Agreement is a legally binding contract between you and the real estate agent. It sets out how the agent will sell your home. An Agreement needs to be signed before the agent can list your home on the market. There are certain terms that need to be included in an Agency Agreement. These terms protect your rights and the rights of the real estate agent in the selling process. Most agents use a standard form agreement from the Real Estate Institute, however it is still important that you read through it.
