1.LISTING TERM.
The Seller hereby grants to the Company starting on the date listed above and ending on the date of July 2, 2009. (a listing period of 12 months), or upon the Seller's written cancellation of this agreement, the Exclusive Right To Sell the real property owned by the Seller which is specified on the MLS Data Input Form, (the "Property"), at the listed price noted on the MLS Data Input Form or at such other price and terms as the Seller may agree in writing.
In consideration of services offered by the Company, as outlined in this section, the Seller agrees to pay the Company a fixed listing fee, as so stated on the company web site - www.MLSofUtah.com. It is understood that this fee does not guarantee a sale, but does guarantee the availability of services and products as noted for the term of the listing or until the Seller cancels this Agreement in writing. Any & all fees paid are not refundable.
LIVE HELP CENTER: This is for "Premier Package" clients only
Assistance with offers and closing details as noted in section 3; or section 4 if Negotiation Assistance Plan is chosen.3. REPRESENTATION.
Under this Agreement the Seller is responsible for all showing arrangements with buyers and/or buyer-agents. The Seller will also handle all offer negotiations with buyers and/or buyer-agents. Even though you are handling your own showing arrangements and offer negotiations with this plan, Insight Realty is legally considered under Utah law to be your recognized agents. Therefore "buyer agents" are required to present their offers through the listing brokerage (Insight Realty). The Company will then notify the Seller and forward the offer to the Seller by email or fax.
The Company's broker or assigned agent is available by email during normal business hours to answer Seller's questions with regards to offers, escrow, settlement and closing.
UNDER THIS SERVICE, THE COMPANY DOES NOT NEGOTIATE THE SELLER'S OFFER.
4.NEGOTIATION ASSISTANCE MLS Listing $795.
Includes everything that Premier Plan, offers plus:
If the Seller chooses the $795 Negotiation Assistance Listing, the Company agrees to oversee all aspects of offer negotiations and provide transaction representation start to finish. Starting from the initial offer and negotiations all the way through to closing. Transaction representation details include: offer negotiations, counter offers, ongoing communications with the buyer's agent and/or buyer, handle all offer paperwork, set up and oversee escrow, inspections, appraisals, and attend the settlement/closing.
If Negotiation & paperwork assistance is desired, the seller MUST choose this $795. Negotiation Assistance plan at the time of listing the property.
5. SELLER OBLIGATIONS.
The seller is obligated to keep the Company informed of any changes regarding the selling status of the property, allowing the Company to update the MLS listing in a timely manner (MLS requires all status changes to be reported within 48 hours.) Such changes would include, accepting an offer on the property and closing the sale. The Seller agrees to notify the Company of any such change within 48 hours. Upon accepting any offer on the property, the Seller further agrees to deliver to the Company a completed copy of the accepted Real Estate Purchase Contract, including any addenda and required seller disclosures. At closing, the Seller will provide to Insight Realty a signed copy of the Settlement "Closing statement" from the Seller's Title Company. The Company is authorized to disclose the final terms and sales price of the property to the Multiple Listing Service. Failure to comply with these obligations will cause default on this Agreement resulting in termination of this Agreement and removal of the Seller's listing from the MLS as well as all subsidiary sites.
6. TRANSACTION FEE.
Utah Senate Bill 56: The state of Utah requires all brokerages to provide certain services to their clients, including the availability of a licensed agent for advice and consultation on offers, escrow, settlement and closing. Additionally, brokerages are required to maintain a copy of the seller's closed transaction paperwork for a period of 3 calendar years. Because of this legal responsibility placed upon the Company, a $90 transaction fee to Insight Realty will be deducted from the seller's proceeds at closing.
Our preferred title companies are:
Mountainside Title Co. - BRIDGETT ELLIS (801)424-5144. or
Cache Title Co. - ZAC HANCOCK (801)542-7010
For low title rates, and a discount re-issue rate, even if you previously closed your home with a different title co. .
Your listing agent is available to you by email Monday through Saturday during normal business hours.
7. AGENCY RELATIONSHIP.
The Seller designates the Principal Broker, for the Company (the "Broker"), as agent for the Seller to assist the Seller as noted in section 2, 3 (and 4 if applicable) of this Agreement. The Seller also authorizes the Broker to appoint an additional agent in the Company to assist the Broker with duties outlined in section 2, 3 and 4 (if applicable) of this Agreement. As agents for the Seller, they have fiduciary duties to the Seller that include loyalty, full disclosure, confidentiality, and reasonable care. The Seller understands, however, that the Seller's Agent and the Broker may now, or in the future, be agents for a buyer who may wish to negotiate a purchase of the Property. Then the Seller's Agent and the Broker would be acting as Limited Agents - representing both the Seller and buyer at the same time. A Limited Agent has fiduciary duties to both the Seller and the buyer. However, those duties are "limited" because the agent cannot provide to both parties undivided loyalty, full confidentiality and full disclosure of all information known to the agent. For this reason, the Limited Agent is bound by a further duty of neutrality. Being neutral, the Limited Agent may not disclose to either party information likely to weaken the bargaining position of the other - for example, the highest price the buyer will offer, or the lowest price the Seller will accept. THE SELLER IS ADVISED THAT NEITHER THE SELLER NOR THE BUYER IS REQUIRED TO ACCEPT A LIMITED AGENCY SITUATION IN THE COMPANY, AND EACH PARTY IS ENTITLED TO BE REPRESENTED BY ITS OWN AGENT. In any case, prior to the initiation of any offer discussion, the Seller and the buyer will be asked to sign a Limited Agency Consent Agreement if a limited agency situation should arise.
8. ATTACHMENT.The MLS Data Input Form is incorporated into this Agreement by this reference.
9. BUYER-AGENT COMMISSION.
As per MLS requirement, the Seller agrees to offer and pay a buyer-agent commission (specified on the MLS Data Input Form) to any agent who brings a ready, willing and able buyer who places an offer that is accepted and closes under the Seller's agreed upon price and terms. This buyer-agent commission is due and payable from the Seller's proceeds at closing and is separate from any fees that may be applicable as noted in section 2 and 4 above. This offering of commission to a buyer's agent is considered to be a lawful unilateral contract and is not negotiable once the offering has been made. The Seller does have a right to change the commission offering at any time prior to an offer being presented to the Seller. If there is no buyer-agent involved in the sale, the Seller shall not be obligated to pay the buyer-agent commission. If a dispute over commission arises between the Seller and buyer-agent, and that dispute causes financial harm to the Company, the Seller agrees to immediately pay to the Company the cost of financial harm including any attorney fees and court costs as may be applicable.
10. TITLE COMPANY.
Our goal is to keep future listing cost at the lowest price possible!
Therefore for our convenience, unless the Seller has specified a Title Company on: The MLS Data Input Form, the Seller & the Company will use CACHE TITLE CO. or MOUNTAINSIDE TITLE (a licensed Utah title company regulated by the state of Utah, who will produce and deliver a title report to the Seller.
A title report is a required selling document (section 7b of the Real Estate Purchase Contract).
11. SIGNAGE.
Utah law prohibits the use of "by owner" signs on any MLS listed property. A “By Owner” sign is considered to be any non-brokerage sign. In consideration of this policy, the Company has designed a sign that should accommodate the Seller's needs. The Seller agrees to use a COMPANY SIGN OR NO SIGN on the Property. Failure to comply with this MLS policy will cause this Agreement to be terminated resulting in a removal of the Seller's listing from the MLS and all subsidiary sites.
12. STATUS UPDATE.
In an effort to keep an accurate status on the MLS regarding the Seller's Property, the Seller agrees to confirm with the Company the listing status of the Seller's Property within 48 hours of any status request made by the Company.
13. RIGHT TO CANCEL. The Seller may cancel this agreement at any time for any reason under the following conditions. Cancellation notice
must be in writing and delivered to the Company’s email address with at least 48 hours notice. If any agent presents a purchase offer on the Seller’s property prior to Seller’s cancellation, the Seller may not cancel this agreement until that offer becomes null and void, fails or closes.
14. EQUAL HOUSING OPPORTUNITY. The Seller and the Company shall comply with Federal, State, and local fair housing laws.
15. SELLER WARRANTIES.
The Seller warrants to the Company that the Seller is the legal owner and has marketable title and an established right to sell the Property. The Seller also warrants to the Company the accuracy of the information provided on the MLS Data Input Form, as well as on any subsequent changes which the Seller may execute after the property is listed. If the Company incurs financial harm as a result of the Seller’s inaccuracy or misrepresentation on the listing, the Seller agrees to immediately reimburse the Company for the cost of any such damage, MLS fines, including applicable attorney fees and court costs.
16. LIMITATION OF LIABILITY.
In the event that a dispute arises between the Seller and Buyer or Buyer's Broker, regarding any acts or omissions, negligence or other liability on the part of the Seller, the Seller agrees to hold the Company, it's officers, agents and broker harmless from said liability. Should any Court, Mediator, or Tribunal of Alternative dispute resolution (ADR) find the Company, it's officers, agents and broker liable or negligent, the Seller hereby expressly agrees to limit the Company, it's officers, agents and broker's liability to an equal amount to the fixed listing fee as liquidated damages with respect to any and all such liability.
17. ENTIRE AGREEMENT. This Agreement, including the MLS Data Input Form, contain the entire agreement between the parties.
