Agency Agreement for Sale of Property (Variable Commission)
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
This Agency Agreement for Sale of Property (Variable Commission) is between an owner and an agent who agrees to market and sell the property on a variable, rather than a fixed, commission. This agreement sets forth the specific terms including the minimum purchase price and the amount of the variable commission. This form is for use in all states.
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This Agency Agreement for Sale of Property (Variable Commission) includes the following provisions:
- Parties: Sets forth the names and addresses of the property owner and the agent;
- Appointment: Sets out that agent has sole and exclusive rights to sell the property;
- Variable Commission: Sets out the amount of commission the agent will be paid based on a percentage of the purchase price of the property;
- Owner’s Obligations: Sets forth that owner will at all times cooperate with agent by supplying any necessary information in order to market and sell the property;
- Signatures: Both property owner and agent must sign the agreement;
- Description of Property: A detailed description of the property is set out in Schedule A;
- Conditions of Sale: All relevant conditions of sale (minimum purchase price, closing date) are set out in Schedule B.
Protect your Rights and your Property by using our attorney-prepared forms.
This attorney-prepared packet contains:
- General Instructions
- Agency Agreement for Sale of Property (Variable Commission)
Agency Agreement for Sale of Property (Variable Commission)
Product Details
| Product | Agency Agreement for Sale of Property (Variable Commission) |
| Country | United States |
| Pages | 10 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Agency Agreements for Real Estate |
| Product number | #28942 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
A variable commission in real estate refers to a commission structure where the agent's fee is based on a percentage of the sale price, which can vary depending on the final sale amount. This incentivizes agents to maximize the sale price.
A written agency agreement is crucial as it clearly outlines the terms of the relationship between the property owner and the agent. It helps prevent misunderstandings and provides legal protection in case of disputes.
Yes, commission percentages are negotiable between the property owner and the agent. It's important to discuss and agree on the terms before signing the agreement to ensure both parties are satisfied.
If the property does not sell within the agreed timeframe, the agency agreement may specify the next steps, such as extending the agreement or terminating it. It's essential to review these conditions before signing.
Yes, this Agency Agreement for Sale of Property (Variable Commission) is designed to comply with the laws of all states, making it a versatile option for property owners across the country.
Is This Form Right For You?
Use This Form If:
- Individuals who are looking to sell their property can utilize this agreement to formalize their relationship with a real estate agent. By establishing a variable commission structure, sellers may incentivize agents to achieve a higher sale price, aligning their interests.
- Situations requiring clarity in real estate transactions often benefit from this agreement. When a property owner engages an agent, having a written document detailing the commission and obligations helps prevent misunderstandings and provides a reference point in case of disputes.
- For those entering the real estate market, this agreement serves as a crucial tool to outline the terms of sale. It ensures that both parties understand their roles and responsibilities, which is essential for a smooth transaction process.
- Real estate agents can leverage this agreement to secure exclusive rights to market and sell a property. By having a clear commission structure, agents can effectively plan their marketing strategies and efforts to maximize the sale price.
- Landlords or property owners seeking to sell their investment properties can use this agreement to protect their interests. By specifying the minimum purchase price and commission rates, they can ensure that their financial expectations are met during the sale.
Do Not Use If:
- – This form is not appropriate for transactions involving commercial properties, as commercial real estate may have different legal requirements and commission structures that are not covered by this agreement.
- – If the property owner is not ready to sell and is merely exploring options, this agreement should not be used. It is meant for serious sellers who are prepared to engage an agent for marketing and sale.
- – In cases where the property owner wishes to sell the property without an agent, this form is unnecessary. A direct sale between the owner and buyer does not require an agency agreement.
- – If the seller has already entered into a binding agreement with another agent, using this form would not be appropriate as it could lead to legal complications and potential breach of contract.
- – For properties that are not legally transferable, such as those in probate or under dispute, this agreement should not be utilized until the legal issues are resolved.
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