This is the first episode in our new video series covering the written employment agreement used by brokers and agents when an owner, buyer, tenant or lender retains a broker to render real estate transactional services as the agent of the client. Stay tuned for future episodes!
Introducing the listing agreement
A listing agreement
The client retaining a broker may hold an ownership interest in real estate, which the client seeks to:
- sell [See RPI Forms 102 and 102-1];
- lease [See RPI Form 110]; or
- encumber as collateral for mortgage financing. [See RPI Form 104]
Further, the client retaining the services of a broker may be seeking to acquire an interest in real estate as a:
- buyer [See RPI Forms 103 and 103-1]; or
- tenant. [See RPI Form 111]
The person employed by a client to provide real estate services in expectation of a fee is a licensed real estate broker. Likewise, if a dispute arises with a client over the client’s failure to pay an agreed-to fee, the broker needs to be employed under a written listing signed by the client may pursue collection.
A real estate agent employed by the broker may obtain a listing, but the agent does so while acting on behalf of the broker. The agent has no independent right to enter into or enforce the listing agreement in their name.
