Listing Agreement Preview – TENNESSEE
LIMITED SERVICE LISTING AGREEMENT
This Limited Service Listing Agreement (“Agreement”) is between the Seller (“Seller”) as indicated below, and LISTWITHFREEDOM.COM, INC (“Broker”).
1. AUTHORITY TO SELL PROPERTY:
Seller grants Broker the authority to list Seller’s real and personal property (collectively “Property”) indicated below, at the price indicated below, and terms described in the Flat Fee MLS package purchased, for a term based upon which listing package was purchased, which will begin when listing is placed in the MLS. Seller certifies that Seller is legally entitled to convey the Property and all improvements. This Property will be offered to any person without regard to race, color, religion, sex, handicap, familial status, national origin or any other factor protected by federal, state or local law.
2. DESCRIPTION OF PROPERTY:
- a) Real Property Street Address as indicated below.
- b) Parcel ID (Found on your tax statement) as indicated below.
- c) Seller agrees to offer for sale through the services provided by Broker the Property, fixtures and all improvements thereon. All personal property to be conveyed at the time of sale shall be listed by Seller in the Real Estate Sales Agreement entered into between Seller and Buyer and shall be transferred free of any liens.
3. PRICE AND TERMS:
Property is offered for sale on the following or other terms acceptable to Seller: a) Price as indicated below (Seller is solely responsible for determining the appropriate listing price).
4. COMPENSATION:
Seller has agreed and has prepaid Broker for performing the responsibilities delineated in this Agreement and no refund will be issued regardless whether the property sells and no matter who sells the property. Seller shall pay a cooperating commission (“COOP”) as indicated below. This commission is based on the total purchase price and is due at closing to a licensed Buyer’s Broker or Transaction Broker (“Co-Broker”) in the event the Co-Broker represents or introduces the property to a ready, willing and able buyer and the buyer enters into an Agreement with the Seller to purchase the property.
Under this Agreement, Seller can sell his/her Property himself/herself to any buyer not procured or represented by a participating Realtor, in which case no COOP is due.
Seller may be responsible to pay Broker other fees upon closing. If any other fee(s) is/are due at closing, the fee(s) and will be specified below in this agreement. Any such fee(s) will be presented to the Seller prior to listing the property for Seller’s approval.
5. BROKER COMMUNICATIONS AND ELECTRONIC SIGNATURES:
Seller authorizes all Broker communications to Seller to be via e-mail. Seller authorizes Broker to use Seller’s e-mail address on file with Broker. Seller will provide another email address if experiencing email receipt problems. Seller is responsible for ensuring their email settings do not filter legitimate emails. If there is a second owner of record for this property, and this Contract is being electronically signed, the second owner will ratify the Contract via email.
Broker and Seller agree that an Electronic Signature of any document executed through Broker’s website ratification system, including but not limited to this Contract and addendums or amendments to this Contract, will be binding on both Broker and Seller and will be treated for all intents and purposes as if it was physically signed. “Electronic signature” means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. The terms used in this Listing Agreement, including but not limited to Electronic Signature, should be construed in accordance with the Uniform Electronic Transaction Act as adopted by the State of Pennsylvania. Seller hereby consents to the use of third party electronic signature capture service providers as chosen by Broker. Forms not executed.
6. CONFLICT OF INTEREST: Broker will promptly notify Seller if there is a conflict of interest.
7. PUBLICATION OF SALE PRICE: Seller is aware that newspapers may publish the final sale price after settlement. Broker has permission to advertise the sales price.
8. SELLER’S DUTIES: Seller agrees to cooperate with Broker in the marketing and sale of the property, including but not limited to: If the Property is sold during the period set forth herein, the Seller agrees to execute and deliver a GENERAL WARRANTY DEED conveying fee simple marketable title to the Property, including legal access to a public right of way, free of all encumbrances except ad valorem taxes for the current year, utility easements, rights-of-way, and unviolated restrictive covenants, if any, and those encumbrances that the Buyer agrees to assume in the sales contract. Seller represents that the Seller has the right to convey the property, and that there are currently no circumstances that would prohibit the Seller from conveying fee simple marketable title as set forth in the preceding sentence. Upon a request of a prospective purchaser of the property, Seller shall assist such prospective purchaser in contacting Broker by furnishing Broker’s name, email address, and telephone number.
9. BROKER’S DUTIES: In connection with the marketing and sale of the property, Seller authorizes and directs Broker to list the Property in the Multiple Listing Service (MLS) specified on Seller’s order receipt. To permit other firms who belong to any listing service of which the Broker is a member to advertise the Property on the Internet in accordance with the listing service rules and regulations. Seller authorizes Broker, upon execution of a sales contract for the Property, to notify the listing service of the pending, sale details, and upon closing of the sale, to disseminate sales information, including sales price, to the listing service, appraisers, and real estate brokers.
BROKER SHALL CONDUCT ALL BROKERAGE ACTIVITIES IN REGARD TO THIS AGREEMENT WITHOUT RESPECT TO THE RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP OR FAMILIAL STATUS OF ANY PARTY OR PROSPECTIVE PARTY TO THIS AGREEMENT.
By this Contract Broker shall owe to Seller those duties set forth in T. C.A. §62-13-403 which generally are as follows:
- To diligently exercise reasonable skill and care in providing services to all parties of the transaction recognizing, however, that Broker is Seller’s agent;
- To disclose to each party to the transaction any adverse facts of which Broker has actual notice or knowledge;
- To maintain for each party to the transaction the confidentiality of any information obtained unless otherwise permitted to be disclosed by such respective party or as otherwise permitted by applicable law;
- To provide its services honestly and in good faith;
- To disclose to each party to the transaction timely and accurate information regarding market conditions that might affect the transaction only when the information is available through public records and when the information is requested by a party;
- To timely account for trust fund deposits received by Broker and all other property received from any party to the transaction; and
- Not to engage in self dealing nor to recommend to a party to the transaction the use of services of another person in which Broker has an interest or from whom Broker may receive a referral fee or other compensation except as is properly disclosed and is in compliance with applicable law.
10. SELLER WILL REVEAL MATERIAL DEFECTS OR ENVIRONMENTAL HAZARDS:
A Seller Agent would owe to Seller the additional statutory duties outlined in the Agency Disclosure form attached. However, Broker is acting as a Transaction Broker, and not as a Seller Agent, therefore these additional outlines duties are not required of Broker, and are waived by Seller as follows, with the modifications in italics.
- Waived – To obey all lawful instructions of Seller when the instructions are within the scope of this Agreement;
- Waived – To be loyal to the interests of Seller. A licensee must place the interests of the client before all others in negotiation of a transaction and in other activities. Broker is a neutral party.
- Partially Waived – To assist Seller by receiving offers and counter offers and forwarding such offers and counter offers to Seller; Broker will receive any communications and forward them to Seller only by email. Broker has no responsibility to negotiate or otherwise assist seller with the contract.
- Partially Waived – To answer any questions that Seller may have in negotiation of a successful agreement to sell the Property within the scope of Broker’s expertise; Broker will only answer questions by email in question and answer format
- Waived – To advise Seller as to the forms, procedures, and steps needed after execution of the agreement to sell the property with a view toward achieving a successful closing. Broker does not have access to all of the required sales contract and closing related forms and disclosures. Broker will answer questions by email in question and answer format, or refer Seller to where unknown answers or forms may be found.
- Waived – Broker scheduling showings. Broker shall have no responsibility for scheduling property showings on behalf of Seller, unless the Showing Service option was ordered by Seller.
Consumer may not expect or seek assistance from any other licensees in the transaction for the performance of any of the aforementioned duties of this paragraph.
11. SELLER WILL REVEAL MATERIAL DEFECTS OR ENVIRONMENTAL HAZARDS:
Seller will reveal material defects or environmental hazards to buyers on the Residential Property Condition Disclosure, including Lead Based paint if property built before 1978. This requirement also includes Sellers who are exempt from the Real Estate Seller Disclosure Law. A material defect is a problem or condition that: Is a possible danger to those living on the Property, or Has a significant, adverse effect on the use or value of the Property.
If the Seller is accused of failing to disclose known material defects and/or environmental hazards; Seller will not hold Broker responsible in any way; Seller will hold Broker harmless, from and indemnify Broker against, any claims, lawsuits, actions at law or equity, and other obligations and all costs and expenses, including costs of litigation, reasonable attorneys fees and reasonable costs of investigation, that result or arise from Seller’s failure to disclose known material defects or environmental hazards of any kind. This includes attorney’s fees and court ordered payments or settlements (money Broker or Licensee pays to end a lawsuit or
claim).
The Residential Lead-Based Paint Hazard Reduction Act says that any seller of property built before 1978 must give the buyer an EPA pamphlet entitled Protect Your Family From Lead in the Home. Seller assumes full responsibility for providing this pamphlet to buyers.
Seller will provide to Broker, in a timely manner, Residential Property Condition Disclosure Statement, and the Lead-Based Paint or Lead-Based Paint Hazard Addendum with respect to any residential dwelling built prior to 1978.
Seller will provide to prospective purchasers, in a timely manner, the property disclosures required by this section, as well as the Property Disclosure Addendum.
11. MEASUREMENTS: Measurements from the tax record shall supersede measurements by Seller for publication on the MLS, unless a waiver is granted at Broker’s sole discr
12. DEPOSIT MONEY: Seller is advised to have an attorney, title company, or the Buyer’s broker (provided that Seller has determined that such Buyer’s broker is duly licensed and maintains an escrow account) hold the escrow monies, subject to all applicable Tennessee laws, regulations, and customary procedures. Listing Broker will not hold any escrow accounts or deposit monies.
13. REPORTING TIMELINESS AND ACCURACY: Seller accepts full responsibility and liability for the accuracy and timeliness of data submitted to Broker. Seller will notify Broker within 24 hours of any changes or corrections. Seller understands that in many cases corrections are required, and Seller will allow Broker the necessary reasonable time to make MLS corrections after Seller notification. Seller allows listing data in violation of MLS rules to be changed at Broker’s discretion. Seller will notify Broker in writing if they do not receive the email with the MLS proof on the day of listing activation, and will hold Broker harmless from, and indemnify Broker against, any demands, claims, liabilities, actions at law or equity, together with all costs and expenses including costs of litigation, reasonable attorneys fees, and reasonable costs of investigation arising from infringement or other problems in the MLS proof or Realtor.com not discovered until a later date. The listing normally takes a few hours to a few days to appear on Realtor.com. Seller assumes the responsibility for checking Realtor.com for listing display. Seller allows and understands that Realtor.com listing problems require a longer period of time to correct than MLS listing problems. Seller will reply within 24 hours to all inquiries regarding the listing. Broker may have to temporarily withdraw the listing when Seller does not reply within 48 hours, Broker may cancel the listing without refund when Seller does not report to Broker acceptance of a sales agreement within 24 hours. Broker will mark the listing as settled in the MLS after the settlement date given by Seller. If the settlement date changes and Seller does not notify Broker before Broker marks the listing as settled in the MLS, At settlement, Seller will e-mail a copy of the signed Closing Disclosure (CD) or the equivalent to Broker’s office. The Real Estate Settlement and Procedures Act (RESP A) requires all fees to be reported on the CD form at settlement. Seller is responsible for having the upfront Broker Fee recorded on the CD sheet as “Paid Outside of Closing, or ‘POC’ “,
14. BROKER NOT RESPONSIBLE FOR DAMAGES:
Seller acknowledges and understands that while the marketing services selected above will facilitate the showing and sale of the Property, there are risks associated with allowing access to and disseminating information about the Property that are not within the reasonable control of the Firm, including but not limited to: 1. unauthorized use of a lock/key box; 2. control of visitors during or after a showing or open house; 3. inappropriate use of information about the Property placed on the Internet or furnished to any listing service in which Firm participates.
Seller therefore agrees to indemnify and hold harmless Firm from any damages, costs, attorneys’ fees and other expenses as a result of any personal injury or property loss or property theft or damage to Seller or any other person not caused by Firm’s negligence arising directly or indirectly out of any such marketing services.
15. DOCUMENT PREPARATION: Broker will provide assistance with document preparation and negotiation communications to Seller. Seller agrees that this assistance will be at a cost to the seller. Please ask for the current rate for this service.
16. NO OTHER BROKER CONTRACTS: Seller will not list this property with another broker during this Contract’s term, unless Seller first cancels this Contract under the terms of Paragraph 19.
17. CANCELLATION: Except as set forth in items 2 and 3 of this section 19, Seller may cancel this contract at any time, under the following conditions. 1) Seller cancellation request must be in writing with all Sellers’ signatures. 2) Seller may not cancel this Contract when an offer has been presented and the Seller has not replied in writing to the party making the offer. 3) Seller may not cancel this Contract if the Property is under contract (Sales Agreement). Seller must first reject any offers and/or be released from a Sales Agreement before the listing is canceled. The intent of this Paragraph is to prevent claims from cooperating brokers for a due commission not being paid. If Seller requires Broker’s signature and/or letterhead confirming cancelation.
18. THIRD PARTY DISPUTES (SELLER’S DUTY TO DEFEND): In the event of an arbitration claim or lawsuit arising out of alleged actions or omissions of Seller against or in any way involving Broker that seeks payment of a commission or money damages in connection with the sale or attempted sale of the Property, Seller agrees to indemnify, defend, and hold Broker harmless from, and provide a full defense and aid to Broker with respect to any such claim or lawsuit (“Duty to Defend”). Seller’s duty to defend shall include contribution and reimbursement from Seller for all costs incurred by Broker as a result of such claim or lawsuit together with all costs of litigation including reasonable attorneys fees, reasonable costs of investigation, and all costs of collection including collection agency fees.
19. MLS COPYRIGHT: The MLS listing proof sent by Broker to Seller is copyrighted by the MLS. Seller agrees that this listing proof is solely for data accuracy purposes, and will not distribute the file in anyway to anyone. Seller will be responsible for any MLS fines resulting from distributing the MLS listing proof. If Seller desires a highlight sheet, Broker recommends that Seller use their Realtor.com listing for this purpose. Photos from previous listings are copyrighted by the former broker. Seller will submit original, non-copyrighted photos to Broker. Seller is responsible for any MLS fines and claims of infringement from using copyrighted photos.
20. PHOTOS: Seller will not supply or instruct Broker to load any photos that were previously uploaded to the MLS by another company, even if Seller owns the copyright to such photos, unless Seller has the written permission from the broker who previously published the photos in MLS. Seller agrees Broker is not responsible to check past listings for photo compliance. Any claims in this regard will be handled as a dispute according to the terms of Paragraph 20 of this Contract.
21. REPRESENTATIONS: Seller represents, warrants and agrees as follows: Seller understands that he must comply with all federal, state and local laws concerning fair housing. Seller acknowledges that federal, state and local laws prohibit discrimination in the sale or rental of property based on race, color, religion, sex, disability, familial status, national origin or any other factor protected by federal, state or local law.
- All persons and/or entities authorized to sell the Property have signed this Agreement, and the undersigned signature(s) include all person(s) and or entities, or their duly authorized representatives, who have an ownership interest in the Property. If the individual signing this Agreement is acting in a representative capacity, such individual certifies that he is legally authorized to enter into this Agreement.
- Seller has given Broker the information regarding the Property to appear on the MLS. Seller understands that the Property information will be included in the MLS. Such information is accurate and complete and does not omit or fail to disclose any material defects regarding the Property known to Seller. Broker will post listing changes according to MLS rules and use Broker discretion. The following changes will not be made: Posting of X rated photos and verbiage. Posting of conditional bonuses and listing prices. Posting of Temporarily Withdrawn status longer than 30 days. Posting that violates Fair Housing Laws.
- Seller shall indemnify, defend and hold Broker harmless from and against any and all claims, demands, suits, damages, liability, losses or expenses (including reasonable attorney’s fees) arising from any misrepresentation, nondisclosure, concealment nonperformance of any purchase/sale or rental agreement, or payment of any commission by Seller in connection with the sale or rental of the Property, including without limitation, the inaccuracy or incompleteness of any information provided by Seller for listing on the MLS, use of a lock box, existence of undisclosed material facts or court or arbitration decision that for a broker who was not compensated in connection with a transaction. Seller agrees and acknowledges that List With Freedom LLC. may place a lien against the property for any and all claims, fines, demands, suits, and/or damages.
22. OTHER TERMS:
The parties agree that, in the event of any failure, defect, or malfunction of the MLS listing, the only remedy available to Seller shall be a prorated refund for unperformed services from the fees paid by Seller. This Agreement shall be binding on and inure to the benefit of the successors and assigns of the respective parties to this Agreement. The parties agree that Broker will not be liable for any lost profits or consequential damages of any nature caused to the business or property of Seller by any failure, defect, or malfunction of Seller’s listing or product purchased from Broker. If any term or provision of this agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provisions of this agreement shall remain in full force and effect and shall in no way be affected, impaired, or invalidated. This Agreement shall be governed by and construed in accordance with the laws of the state of Florida. Seller acknowledges Broker maintains its physical place of business in the state of Florida.
23. ENTIRE AGREEMENT: This agreement constitutes the entire agreement between Seller and Broker and there are no representations, inducements, or other provisions other than those expressed herein. All changes, additions, or deletions to this Agreement must be in writing and signed by both Seller and Broker.
AGENCY DISCLOSURE AS REQUIRED BY TENNESSEE LAW
Every real estate licensee is required to disclose his or her agency status in a real estate transaction to any buyer or seller who is not represented by an agent and with whom the licensee is working directly in the transaction. The purpose of this Agency Disclosure Form is to acknowledge that this disclosure occurred. Copies of this Agency Disclosure Form must be provided to any signatory thereof.
Notice is hereby given that the agency status of this Licensee (or Licensee’s Company) is as follows in this transaction:
The Company, List With Freedom in the real estate transaction involving Property is serving as a Transaction Broker or Facilitator (not an agent for either party).
This Disclosure Form was delivered in writing, as prescribed by law, to any unrepresented buyer prior to the preparation of any offer to purchase, or to any unrepresented seller prior to the execution of a listing agreement or to any unrepresented seller prior to presentation of an offer to purchase.
This Disclosure Form also serves as confirmation that the Licensee’s Agency or Transaction Broker status was communicated orally before any real estate services were provided.
This Disclosure Form by itself, however, does not constitute an agency contract or establish an agency relationship.
This Disclosure Form also serves as a statement acknowledging that the buyer or seller, as applicable, was informed that any complaints alleging a violation or violations of T.CA 62-13-312 must be filed within the applicable statute of limitations for such violation set out in T.C.A. 62-13-313(e) with the Tennessee Real Estate Commission, 500 James Robertson Parkway, Suite 180, Nashville, Tennessee 37232, Phones: (615) 741-2273 or (800) 342-4031.
EVERY TENNESSEE REAL ESTATE LICENSEE OWES THE FOLLOWING STATUTORY DUTIES TO EVERY PARTY IN A REAL ESTATE TRANSACTION:
- To diligently use professional skill and care in providing service.
- 2. To disclose any adverse facts (any significant property defects) of which Licensee has actual notice or
- To maintain the confidentiality of any information obtained from you (other than adverse facts which must be disclosed) prior to the Licensee’s disclosure of an agency relationship with someone in a tran This responsibility continues after any agency relationship and/or after the closing of the transaction.
- To provide services with honesty and good faith.
- To provide timely and accurate information by request on market conditions related to a transaction.
- To timely account for earnest money deposits and other property received from any party to the transaction.
- (A) To not engage in self-dealing, conflicts of interest, or representation of a family member or other individual, organization or business entity in which the Licensee has a personal interest without prior disclosure of such interest.
(8) To refrain from recommending, without proper disclosure, the use of another individual, organization or business entity in which the Licensee has an interest or from which the Licensee may receive a referral fee or other compensation.
THE LICENSEE OWES THREE ADDITIONAL STATUTORY DUTIES TO A CLIENT AS AN AGENT OR DESIGNATED AGENT IN A REAL ESTATE TRANSACTION:
- To obey all lawful instructions of the Client within the scope of the agency agreement between the Licensee and Client.
- To be loyal to the Clients interests by placing those interests before all others in negotiation of a real estate transaction and in other activities, except where such loyalty duty would violate the Licensee’s duties owed to all the parties in the tr
- The following duties must be provided to the Client:
- Scheduling all property showings on behalf of the client;
- Receiving all offers and counter offers and forwarding them promptly to the client;
- Answering any questions that the client may have in negotiation of a successful purchase agreement within the scope of the licensee’s expertise; and
- Advising the client as to whatever forms, procedures and steps are needed after execution of the
purchase agreement for a successful closing of the transaction.
If a Client waives, in writing, any or all of the above duties, the Client must be advised in writing by his/her Licensee that the Client may not expect or seek assistance from any other licensees in the transaction for the performance of these services.
