EXCLUSIVE AGENCY LISTING AGREEMENT

This exclusive listing agreement is made on _________[date], between _________, of _________[address], _________[city], _________ County, _________[state], referred to in this agreement as broker, and _________, of _________[address], _________[city], _________ County, _________[state], referred to in this agreement as owner.

For and in consideration of services to be performed by broker, owner employs broker as owner's sole and exclusive agent to sell a certain parcel of property known as _________[address], _________[city], _________ County, _________[state], and more specifically described as: _________[description], subject to the following terms and conditions:

SECTION ONE.

OBLIGATIONS OF BROKER

Broker shall undertake to find a buyer for the above-described property. Broker shall (1) include it with the other listings maintained by _________[him or her], (2) place a suitable sign on the premises, (3) notify owner promptly of prospective buyers, and (4) show the property to prospective buyers _________. [if applicable, add: subject to the conditions noted on the reverse side of this agreement]. Broker shall pursue these duties and obligations with diligence.

SECTION TWO.

BROKER'S COMMISSION

Broker shall receive a commission of _________% of the first $_________ of the selling price and _________% of the selling price in excess of that amount if:

(a). Broker procures a buyer who is ready, willing, and able to purchase the property on the terms set forth in this agreement or on terms more advantageous to owner;

(b). Owner actually sells the property to a purchaser procured by broker or by any other broker during the term of this listing; or

(c). Within _________ months after the termination of this listing, the property is sold by owner or by any other person to a buyer who was first submitted to owner, directly or indirectly, by broker.

SECTION THREE.

TYPE OF LISTING

This listing is and shall be considered by the parties to be an exclusive listing and broker's right to a commission will arise on the sale of the property to a buyer who is procured by any broker, but shall not accrue if the buyer is procured by owner _________[himself or herself].

SECTION FOUR.

TERM OF LISTING

A. The rights and obligations created by this agreement shall commence on the effective date indicated above, and shall terminate at midnight, the last hour of _________[date].

B. This listing is renewable by owner beyond the termination date by appropriate notation on the reverse side of this agreement.

C. This listing may be cancelled by either party at any time after _________ days after the effective date indicated above by _________ days' written notice.

SECTION FIVE.

BROKER'S AUTHORITY TO RECEIVE DEPOSIT

Broker is authorized to receive a deposit from any purchaser who offers to buy the property, and shall promptly notify owner of the receipt of any such deposit. Any such deposit shall be considered accepted only when owner accepts buyer's offer. Should any deposits so received be forfeited, one-half of any such deposit shall be retained by broker, and the balance shall be paid to owner.

SECTION SIX.

ATTORNEY'S FEES

In the event that any action is filed in relation to this listing, the unsuccessful party in the action shall pay to the successful party, in addition to all other sums that either party may be called on to pay, a reasonable sum for the successful party's attorneys' fees.

SECTION SEVEN.

OWNER'S COVENANT TO SELL

A. Owner agrees to furnish a certificate of title or abstract from a reputable and reliable title abstract company, and furnish a _________[warranty] deed conveying a good and sufficient title to the above-described property.

B. Owner understands and agrees that procurement of a ready, willing, and able purchaser by broker will entitle broker to the commission specified in this agreement in spite of any failure of owner to convey for any reason.

SECTION EIGHT.

NO WAIVER

The failure of either party to this agreement to insist upon the performance of any of the terms and conditions of this agreement, or the waiver of any breach of any of the terms and conditions of this agreement, shall not be construed as thereafter waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forebearance or waiver had occurred.

SECTION NINE.

BINDING EFFECT

This agreement shall bind and inure to the benefit of the respective heirs, personal representatives, successors, and assigns of the parties.

SECTION TEN.

GOVERNING LAW

It is agreed that this agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _________.

SECTION ELEVEN.

EFFECT OF PARTIAL INVALIDITY

The invalidity of any portion of this agreement will not and shall not be deemed to affect the validity of any other provision. In the event that any provision of this agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision.

SECTION TWELVE.

MODIFICATION OF AGREEMENT

Any modification of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if evidenced in writing signed by each party or an authorized representative of each party.

SECTION THIRTEEN.

PARAGRAPH HEADINGS

The titles to the paragraphs of this agreement are solely for the convenience of the parties and shall not be used to explain, modify, simplify, or aid in the interpretation of the provisions of this agreement.

SECTION FOURTEEN.

ENTIRE AGREEMENT

This agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this agreement shall not be binding upon either party except to the extent incorporated in this agreement.

SECTION FIFTEEN.

NOTICES

Any notice provided for or concerning this agreement shall be in writing and be deemed sufficiently given when sent by certified or registered mail to the respective address of each party as set forth at the beginning of this agreement.

SECTION SIXTEEN.

ASSIGNMENT OF RIGHTS

The rights of each party under this agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.

SECTION SEVENTEEN.

RECEIPT OF COPY OF AGREEMENT

Owner acknowledges receipt of a copy of this agreement.

In witness, each party to this agreement has caused it to be executed at _________[place of execution] on the date indicated below.