As a real estate licensee who has no brokerage relationship with you, TOR Real & its Associates owe to you the following duties: 1. Dealing honestly and fairly; 2. Disclosing all known facts that materially affect the value of real property and are not readily observable to the buyer; 3. Accounting for all funds entrusted to the licensee.
Multiple Listing Service (MLS):
1. Placing the Property in a multiple listing service (the "MLS") is beneficial to Seller because the Property will be exposed to a large number of potential buyers. As a MLS participant, Broker is obligated to timely deliver this listing to the MLS. This listing will be promptly published in the MLS unless Seller directs Broker otherwise in writing. Seller authorizes Broker to report to the MLS this listing information and price, terms, and financing information on any resulting sale for use by authorized Board / Association members and MLS participants and subscribers unless Seller directs Broker otherwise in writing.
1. Seller may cancel this listing at any time 90 days after to entering providing the SELLER is not or has not , or engaging in negotiations to enter, a sales contract.
2. The seller may avoid cancelation fee by allowing the broker to refer the seller to a qualified full-service Realtor where the broker is compensated a referral fee at closing.
4. Seller agrees that the broker has provides a valuable service. Seller agrees, and acknowledges, that broker may place a lean on the subject property for any and all unpaid services outlined in this agreement.
6. Seller may not terminate this agreement once the Property is under contract for sale. 7. If this agreement expires while the property is under contract Seller must comply with the terms of this agreement.
1. Broker agrees to make continued efforts to sell the Property until a sales contract is pending on the Property.
2. Broker will then have 48 hours (not including weekends and holidays) after the authorized listing status change or listing update is received, to apply the changes.
1. Seller is responsibility to notify Broker in writing (or on the appropriate form on www.tor.house) within 24 hours of any and all changes in the status of the Property. Example of changes that need to be reported to broker include: i. entering into Contract; ii. Closing of Contract; iii. Terminating of Sale, iv. Change of Listing Price; v. Change of offered Cooperating broker’s commission.
2. Seller must provide Broker with copies of executed sales contracts and closing statement. State laws require that the Listing Broker retain these records.
4. Failure to notify Broker within 24 hours of status changes, breaching this agreement, breaking state or MLS rules may result in the MLS listing being immediately canceled.
Broker and Co-Broker Compensation:
1. Seller may make an additional officers of compensation, to qualified brokers, as they see fit and agree to in writing with them. Listing broker will immediately be provided with all agreements of compensation not outlined in this agreement
2. Seller agrees to pay 2.5% to the listing broker in the event the property is sold or contracted to be sold.
3. The seller retains the right to find their own buyer, not to work with a buyer’s agent, and pay no buyer’s agent commission
4. Broker will be available for transaction coordination, document preparation, legal disclosures, pricing opinions, market reports, and general guidance to help facilitate the selling process.
Seller Acknowledgements and understanding :
1. Seller understands that by placing their Property on the MLS, Seller is agreeing to cooperate with any Broker who is a member of the MLS.
2. Seller understands that their property will be marketed across many platforms, websites, and advertising outlets in an attempt to find a prospective buyer. Listing information and property photos will be reproduced and displayed on many outlets.
3. Seller will return inquiries from buyer’s agents in a timely manner. Failure to be responsive to inquires may result in the listing being reported as unavailable or inaccurate and removed from databases. :
4. Seller has chosen to waive Broker Representation.
5. Broker strongly recommends that the Seller seek the guidance of an attorney when selling real estate.
6. If selected by seller, a closing coordinator will continue to be available to provide transaction guidance, support, document preparation, etc. in order to help facilitate the closing of the transaction. Broker has a no brokerage relationship with the Seller.
7. Seller accepts responsibility for complying with all Federal, State, local laws, MLS rules, and Property Disclosure requirements.
8. Seller completely relieves TOR Real Estate, LLC & its Associates from all liability.
1. This Agreement is the entire agreement between Seller and Broker No prior or present agreements or representations will be binding on Seller or Broker unless included in this Agreement. Electronic signatures are acceptable and will be binding. Signatures, initials, and modifications communicated electronically will be considered as originals.