A land listing agreement is a contract between a land owner and real estate agent that authorizes the latter to find a buyer for the property. The agreement contains information about who each party is and what their roles and responsibilties are under the agreement. It states how long the partnership will last for and what actions should be taken to modify, extend, or terminate the agreement.
The purpose of the land listing agreement is to govern the relationship between a land owner and a real estate agent, which reinforces positive interactions between them and discourages legal complaints coming up under the duration of the contract.
Below is a list of common sections included in Land Listing Agreements. These sections are linked to the below sample agreement for you to explore.
Bayswater Brokerage Florida LLC
2231 Falls Circle | |
Vacant Land Listing Agreement | Vero Beach, FL 32967 |
772-794-7827 |
1 | This Non-Exclusive Right of Sale Listing Agreement ("Agreement") is between | |||
2 | * | MB 2013 LLC ( "Seller" ) | ||
3 | * | and Bayswater Brokerage Florida LLC ( "Broker" ) . | ||
4 | ||||
5 | 1. | Authority to Sell Property: Seller gives Broker the NON-EXCLUSIVE RIGHT TO SELL the real and personal property | ||
6 | * | (collectively, "Property") described below, at the price and terms described below, beginning | ||
7 | February 9, 2016 and terminating at 11:59 p.m. on December 31, 2016 ("Termination Date"). Upon | |||
8 | full execution of a contract for sale and purchase of the Property, all rights and obligations of this Agreement will | |||
9 | automatically extend through the date of the actual closing of the sales contract. Seller and Broker acknowledge | |||
10 | that this Agreement does not guarantee a sale. This Property will be offered to any person without regard to race, | |||
11 | color, religion, sex, handicap, familial status, national origin, or any other factor protected by federal, state, or local | |||
12 | law. Seller certifies and represents that she/he/it is legally entitled to convey the Property and all improvements. | |||
13 | * | |||
14 | 2. | Description of Property: | ||
15 | * | (a) | Street Address: See Exhibit “A" attached hereto, as may be amended from time to time by Seller upon 24 | |
16 | hours' prior email notice to Broker including without limitation to add or delete the Exhibit “A" properties or to change the purchase price amounts. | |||
17 | Legal Description: See Exhibit "A" | |||
18 | ¨ See Attachment ______________ | |||
19 | ||||
20 | * | (b) | Personal Property, including storage sheds, electrical (including pedestal), plumbing, septic systems, water | |
21 | * | tanks, pumps, solar systems/panels, irrigation systems, gates, domestic water systems, gate openers and | ||
22 | controls, fencing, timers, mailbox, utility meters (including gas and water), windmills, cattle guards, existing | |||
23 | * | landscaping, trees, shrubs, and lighting: if and to the extent the following exist | ||
24 | ¨ See Attachment _______________ | |||
25 | * | (c) | Occupancy: | |
26 | * | Property ¨ is x is not currently occupied by a tenant. If occupied, the lease term expires____________ . | ||
27 | * | |||
28 | * | 3. | Price and Terms: The property is offered for sale on the following terms or on other terms acceptable to Seller : | |
29 | * | (a) | Price: $ See Exhibit "A" | |
30 | * | (b) | Financing Terms: x Cash ¨ Conventional ¨ VA ¨ FHA ¨ USDA ¨ Other (specify) ___________ | |
31 | * | ¨ Seller Financing: Seller will hold a purchase money mortgage in the amount of $ ________________________ | ||
32 | * | with the following terms: ______________________________________________________________________ | ||
33 | ¨ Assumption of Existing Mortgage: Buyer may assume existing mortgage for $ plus | |||
34 | an assumption fee of $ ____________________. The mortgage is for a term of ____________ years beginning in | |||
35 | _____________, at an interest rata of ______ % ¨ fixed ¨ variable (describe) ___________________________. | |||
36 | Lender approval of assumption ¨ is required ¨ is not required ¨ unknown. Notice to Seller: You may | |||
37 | remain liable for an assumed mortgage for a number of years after the Property is sold. Check with your | |||
38 | lender to determine the extent of your liability. Seller will ensure that all mortgage payments and required | |||
39 | escrow deposits are current at the time of closing and will convey the escrow deposit to the buyer at closing. | |||
40 | (c) | Seller Expenses: Seller will pay mortgage discount or other closing costs not to exceed ___________% of the purchase | ||
41 | price and any other customary residential closing expenses Seller agrees to pay in connection with a transaction. | |||
42 | ||||
43 | 4. | Broker Obligations: Broker agrees to make diligent and continued efforts to sell the Property until closing occurs. a sales | ||
44 | contract is pending on the Property. | |||
45 | ||||
46 | 5. | Multiple Listing Service: Placing the Property in a multiple listing service (the "MLS") is beneficial to Seller | ||
47 | because the Property will be exposed to a large number of potential buyers. As a MLS participant. Broker is obligated | |||
48 | to timely deliver this listing to the MLS. This listing will be promptly published in the MLS unless Seller | |||
49 | directs Broker otherwise in writing. Seller authorizes Broker to report to the MLS this listing information and price, | |||
50 | * | terms, and financing information on any resulting sale for use by authorized Board / Association members and | ||
51 | * | MLS participants and subscribers unless Seller directs Broker otherwise in writing. | ||
6. | Broker Authority: Seller authorizes Broker to: | |||
(a) | Advertise the Property as Broker deems advisable and with Seller’s prior written approval of all content and media | |||
including advertising the Property on the Internet unless limited in (6)(a)(i) or (6)(a)(ii) below. | ||||
( Seller opt-out ) (Check one if applicable) | ||||
(i) ¨ Display the Property on the Internet except the street address. | ||||
(ii) ¨ Seller does not authorize Broker to display the Property on the Internet. |
Seller () (_____) and Broker/Sales Associate (_____) () acknowledge receipt of a copy of this page, which is Page 1 of 4. | |
VLLA-2 Rev 10/13 | © 2013 Florida Association of Realtors® |
Software and added formatting © 2016 Alta Star Software, all rights reserved. * www.altastar.com * (877) 279-8898
Inform Broker before leasing, mortgaging, or otherwise encumbering the Property excluding notices of commencement
for property under construction.
with a transaction is entitled to compensation from Broker . This clause will survive Broker's performance
and the transfer of title.
Seller () (_____) and Broker/Sales Associate () (_____) acknowledge receipt of a copy of this page, which is Page 2 of 4. | |
VLLA-2 Rev 10/13 | © 2013 Florida Association of Realtors® |
109 | 8. | Compensation: Seller will compensate Broker as specified below for procuring a buyer who is ready, willing, | |
110 | and able to purchase the Property or any interest in the Property on the terms of this Agreement or on any other | ||
111 | terms acceptable to Seller . Seller will pay Broker as follows (plus applicable sales tax): | ||
112 | * | (a) | 6 % of the total purchase price plus $ 0.00 OR $ 0.00 , no |
113 | later than the date of closing specified in the sales contract. However, closing is not a prerequisite for Broker's | ||
114 | fee being earned. | ||
115 | * | (b) | ___________ ($ or %) of the consideration paid for an option, at the time an option is created. If the option is |
116 | exercised, Seller will pay Broker the Paragraph 8(a) fee, less the amount Broker received under this | ||
117 | subparagraph. | ||
118 | * | (c) | ___________ ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or |
119 | agreement to lease, whichever is earlier. This fee is not due if the Property is or becomes the subject of a | ||
120 | contract granting an exclusive right to lease the Property. | ||
121 | (d) | Broker's fee is due in the following circumstances: (1) if any interest in the Property is transferred, whether by | |
122 | sale, lease, exchange, governmental action, bankruptcy, or any oth e r means of transfer , regardless of whether | ||
123 | the buyer is secured by Seller, Broker, or any other person. (2) If Seller refuses or fails to sign an off e r at the | ||
124 | price and terms stated in this Agreemen t, materially and intentionally defaults on an executed sales contract, | ||
125 | * | or agrees with a buyer to cancel an executed sales contract : (3) If, within 15 days after Termination Date | |
126 | ("Protection Period"), Seller transfers or contracts to transfer the Property or any interest in the Property | ||
127 | to any prospects with whom Seller , Broker , or any real estate licensee communicated in writing regarding the | ||
128 | Property before Termination Date. However, no fee will be due Broker if the Property is relisted after | ||
129 | Termination Date and sold through another broker. | ||
130 | (e) | Retained Deposits: As consideration for Broker’s services, Broker is entitled to receive ______% of all | |
131 | deposits that Seller retains as liquidated damages for a buyer’s default in a transaction, not to exceed the | ||
132 | Paragraph 8(a) fee in no event shall Broker’s fee be due if buyer defaults, and this provisions shall control any contrary provision in a sale & purchase agreement. | ||
133 | 9. | Commercial Real Estate Sales Commission Lien Act: The Florida Commercial Real Estate Sales Commission | |
134 | Lien Act provides that when a broker has earned a commission by performing licensed services under a brokerage | ||
135 | agreement with you, the broker may claim a lien against your net sales proceeds for the broker's commission. The | ||
136 | broker's lien rights under the act cannot be waived before the commission is earned. | ||
137 | 10. | Cooperation with and Compensation to Other Brokers: Notice to Seller : The buyer’s broker, even if | |
138 | compensated by Seller or Broker , may represent the interests of the buyer. Broker's office policy is to cooperate | ||
139 | with all other brokers except when not in Seller's best interest and to offer compensation in the amount of | ||
140 | * | x 3 % of the purchase price or $ 0.00 to a single agent for the buyer; x 3 % of the | |
141 | * | purchase price or $ 0.00 to a transaction broker for the buyer; and x 3 % of the purchase | |
142 | * | price or $ See Exhibit “A” to a broker who has no brokerage relationship with the buyer. | |
143 | * | ¨ None of the above. (If this is checked, the Property cannot be placed in the MLS.) | |
144 | 11. | Conditional Termination: At Seller’s request, Broker may agree to conditionally terminate this Agreement. If | |
145 | Broker agrees to conditional termination, Seller must give Broker email notice confirming such termination | ||
146 | * | sign a withdrawal agreement, reimburse Broker for all direct expenses i ncurred in mark e ting the Property , | |
147 | and pay a cancellation fee of $ that is mutually agreeable unless otherwise waived by Broker plus . applicable | ||
148 | sales tax. Broker may void the conditional termination, and Seller will pay the fee stated in Paragraph 8(a) | ||
149 | less the cancellation fee if Seller transfers or contracts to transfer the Property or any interest in the Property during | ||
150 | the time period from the date of conditional termination to Termination Date and Protection Period, if applicable. | ||
151 | 12. | Dispute Resolution: This Agreement will be construed under Florida law. All controversies, claims, and other | |
152 | matters in question between the parties arising out of or relating to this Agreement or the breach thereof will be | ||
153 | settled by first attempting mediation under the rules of the American Mediation Association or other mediator | ||
154 | agreed upon by the parties. If litigation. arises out of this Agreement, the prevailing party will be entitled to recover | ||
155 | reasonable attorney’s fees and costs, unless the parties agree that disputes will be settled by arbitration as follows: | ||
156 | * | Arbitration: By initialing in the space provided, Seller (____) (____), Sales Associate (____), and Broker (____) | |
157 | agree that disputes not resolved by mediation will be settled by neutral binding arbitration in the county in which | ||
158 | the Property is located in accordance with the rules of the American Arbitration Association or other arbitrator | ||
159 | agreed upon by the parties. Each party to any arbitration (or litigation to enforce the arbitration provision of this | ||
160 | Agreement or an arbitration award) will pay its own fees, costs, and expenses, including attorney’s fees, and will | ||
161 | equally split the arbitrator’s fees and administrative fees of arbitration . | ||
162 | 13. | Miscellaneous: This Agreement is binding on Seller's and Broker's heirs, personal representatives, | |
163 | administrators, successors, and assigns. Broker may not assign this Agreement to another listing office. This | ||
164 | Agreement is the entire agreement between Seller and Broker . No prior or present agreements or representations |
Seller () (_____) and Broker/Sales Associate () (_____) acknowledge receipt of a copy of this page, which is Page 3 of 4. | |
VLLA-2 Rev 10/13 | © 2013 Florida Association of Realtors® |
Seller () (_____) and Broker/Sales Associate (_____) () acknowledge receipt of a copy of this page, which is Page 4 of 4. | |
VLLA-2 Rev 10/13 | © 2013 Florida Association of Realtors® |
Software and added formatting © 2016 Alta Star Software, all rights reserved. * www.altastar.com * (877) 279-8898
Address | Target Sales Price | |
1211 Stillwater Drive, Miami Beach, FL 33141 | $ | 2,000,000.00 |
1420 Biscaya Drive, Surfside, FL 33154 | $ | 4,850,000.00 |
Lot in between 700 88 ST and 682 88 ST, Surfside, FL 33154 (El/2 OF LOT 25 & LOT 26 BLK 28A, PB 16-44) | $ | 2,850,000.00 |
18970 N Bay Road, Sunny Isles Beach, FL 33160 | $ | 2,500,000.00 |
NOTE: Seller may in its sole discretion from time to time designate one or more listing co-brokers for any and all properties subject to this Agreement, and Broker shall be solely responsible for compensating any and all cooperating brokers as directed by Seller.
Reference:
Security Exchange Commission - Edgar Database, EX-10.14 2 v431222_ex10-14.htm EXHIBIT 10.14, Viewed October 10, 2022, View Source on SEC.
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