There have been quite a few changes to the new Exclusive Right to Sell Listing Agreement. The changes to the form are listed below:
- Binding language added to header
- Copyright added to all pages of the agreement
- Any reference to Broker has been updated to Sponsoring Broker
- Removed second Sponsoring Broker initial at the bottom of all pages
- Storage space information added to Paragraph 4, Property.
- Leasing obligation added if property is leased (Paragraph 4 and General Provision H)
- Out of pocket marketing and advertising costs replaced with Professional Services (Paragraph 8)
- Additional Fee and Additional Rental Fee changed to Additional Commission and Additional Rental Commission (paragraph 9)
- Cancellation of Agreement moved to first page, Paragraph 9, with blank added if there is a charge for canceling the agreement
- Changed from Initials to Signatures for Dual Agency (Paragraph 10)
- Changes to Paragraph 11, Property Information
- Additional PIN added
- Question to seller about knowledge of anything that would affect transfer of title. If so, explain
- Question to seller if property is currently leased. If so, terms of lease
- Added section for seller to write utility account numbers so that MLS can generate Energy Disclosure
- Organized all condo information to one sub-paragraph and added blanks for Management contact info
- Updated paragraph 12, Promoting and Advertising, to include social media sites
- Added Paragraph 14, MLS Exemption
- Reconfigured seller contact info
- Added General Provision H, Lease Property
- Updated General Provision Q to reflect new definition of Business Day