If you`re buying or selling a property in Tennessee, it`s important to understand the exclusive right to sell listing agreement. This legal document serves as a contract between a seller and a real estate agent, outlining the agent`s responsibilities and the terms of the sale. In this article, we`ll provide an example of an exclusive right to sell listing agreement in Tennessee and explain what it means for both parties.

Before we dive into the specifics of the agreement, let`s define what an exclusive right to sell listing agreement is. Simply put, it`s a contract between a seller and a real estate agent that gives the agent the exclusive right to market and sell the property. This means that the seller cannot work with any other agents or sell the property themselves during the agreement`s duration.

Now, let`s look at an example of an exclusive right to sell listing agreement in Tennessee.

Exclusive Right to Sell Listing Agreement Example Tennessee

THIS AGREEMENT made this day [insert date] by and between [insert seller`s name], hereinafter referred to as “Seller,” and [insert real estate agent`s name], hereinafter referred to as “Agent.”

Selling Property: Seller hereby agrees to grant to Agent the exclusive right to market and sell the property located at [insert property address] (the “Property”) for a period of [insert duration of the agreement] (the “Agreement”).

Duties of Agent: During the term of this Agreement, Agent shall use its best efforts to market and sell the Property. This includes but is not limited to:

– Advertising the Property through various channels (MLS, websites, social media, etc.)

– Hosting open houses and property showings

– Providing feedback to Seller on the status of the Property`s marketing and sale

– Negotiating offers and contracts on behalf of Seller

– Keeping Seller informed of all relevant information related to the Property`s sale

Compensation: In consideration for Agent`s services, Seller agrees to pay a commission to Agent upon the sale of the Property. The commission will be [insert commission percentage] of the sale price of the Property.

Seller`s Duties: During the term of this Agreement, Seller shall cooperate with Agent and provide all necessary information and access to the Property for Agent to market and sell the Property. Seller also agrees not to work with any other agents or sell the Property themselves during the Agreement`s duration.

Termination: This Agreement may be terminated by mutual agreement of both parties, or if either party breaches any of the terms and conditions of this Agreement. If the Agreement is terminated before the Property is sold, Agent is entitled to receive any expenses incurred in connection with the marketing of the Property.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state of Tennessee.

This is just an example of an exclusive right to sell listing agreement in Tennessee, and the actual terms and conditions may vary depending on the specific situation. It`s important for sellers to review the agreement carefully and ensure they understand all of the terms before signing.

In summary, an exclusive right to sell listing agreement is a legal document that grants a real estate agent the exclusive right to market and sell a property. In Tennessee, this agreement outlines the agent`s responsibilities, the seller`s duties, the compensation, and the terms of termination. If you`re planning to sell your property in Tennessee, it`s important to work with a reputable real estate agent and ensure you have a solid exclusive right to sell listing agreement in place.