This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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OREC LISTING AGREEMENT (11-2019)
OKLAHOMA REAL ESTATE COMMISSION
This is a legally binding Contract; if not understood, seek advice from an attorney.
LISTING AGREEMENT - EXCLUSIVE RIGHT TO SELL
In consideration of the services to be rendered by the undersigned licensed Broker (“Broker”), the undersigned (“Seller”)
hereby exclusively lists with Broker the Property described as:
Property Address ____________________________________________________________________________________
Legal Description ____________________________________________________________________________________
__________________________________________________________________________________________________,
together with all xtures and improvements, and all appurtenances, subject to existing zoning ordinances, plat or deed
restrictions, utility easements serving the Property, including all mineral rights owned by Seller, if any, all of which may be
described in any property data form attached to and by this reference made a part of this Agreement (collectively referred
to as “the Property”.), and grants to Broker the exclusive right to sell the Property, within the term of this listing, at a price of
$______________________________________ and on the terms herein stated, or at such other price and terms as shall
be acceptable to Seller. This listing shall be subject to the following:
1. By appointing Broker as exclusive Broker, Seller agrees to work through Broker for the sale, option or exchange (collectively
“Sale”) of the Property and to refer to Broker all inquiries received in any form from other real estate Brokers, agents,
associated broker associates, sales associates, or provisional sales associates, sales persons, prospective buyers or
tenants, or any other source during the time this Listing Agreement is in effect. In addition, any compensation, which is
conditioned upon the Sale of Property, shall be earned by Broker as set forth herein without any discount or allowance for
any efforts made by Seller or by any representative of Seller in connection with the sale of the Property.
2. This Agreement begins on____________________________________, and terminates (except for the provisions of
Paragraph 3) at midnight on__________________________________________.
3.
Seller agrees to pay a commission equal to the greater of ______________% (0% if left blank) of the total sales price of the property
plus $ _____________($0 if left blank); OR $________________ ($0 if left blank). upon occurrence of any of the following:
a. The sale or exchange of the Property during the term of this Agreement, whether procured by Broker, Seller, or a third
person.
b. The sale or exchange of the Property within ___________days after the termination of this Agreement, if with anyone
to whom Broker has shown the Property, or with whom the Broker has negotiated concerning the Property prior to the
termination of this Agreement; provided that this clause shall not apply if Seller re-lists the Property at the termination
of this Agreement with another licensed real estate Broker.
c. If Broker procures a Buyer who is ready, willing, and able to purchase the Property, at the price and on the terms set
forth herein, or at another price and terms as shall be acceptable to Seller.
d. The sale or exchange of the Property during, or after, the term of this Agreement to any party to whom the Property is
rented or leased during the term of this Agreement, or within _________days thereafter.
4. In the event a Contract for Sale or Exchange (a “Contract”) is entered into with a Buyer, Seller agrees that:
a. Unless the Contract provides otherwise, Broker shall receive and hold any earnest money deposit, which may be in
the form of the Buyer’s personal check endorsed for deposit without recourse, in Broker’s trust or escrow account in
accordance with the terms of the Contract, applicable law, rules, and regulations governing those funds;
b. Prior to the “Closing Date,” Seller, at Seller’s expense, agrees to furnish Buyer or Buyer’s lender a current Uniform
Commercial Code Search Certicate (and, if the Property is a condominium, to furnish a copy of the Declaration of
Unit Ownership Estates of the Project, Bylaws of the Project’s Owners Association). Seller, at Seller’s expense shall
also furnish an abstract of title certied to date showing marketable title in Seller, subject only to utility easements
serving the Property and building restrictions of record, and other exceptions specied in the Contract and, if Property
is a condominium, subject to all terms, provisions, restrictions, and covenants contained in the Declaration of Unit
Ownership Estates and Bylaws of the Owner’s Association of the “Project,” and, if required by lender, a “Mortgage
Inspection Report” prepared by a licensed surveyor, certied to a date at least within 180 days of the “Closing Date”;
c. Seller has sole ownership, full authority to sell property, and will cause any conveyance to be executed and joined by
all necessary parties to convey marketable title by General Warranty Deed to Buyer, free and clear of all liens and
encumbrances, except those specically reserved in the Contract.