Exclusivity Agreement An Exclusivity Agreement grants exclusive rights to a party for specific purposes, specifying the scope of exclusivity, duration, and any exceptions or limitations.
1.1. Grant of Exclusive Rights
Owner hereby grants Agent the exclusive right to represent, market, and sell the high-end luxury property located at [Full Address], in the Sunset Heights community (the "Property"), during the Term (as defined below) of this Agreement. For the duration of this Agreement, no other real estate agency, agent, broker, or representative shall have the right to market, advertise, sell, or lease the Property.
1.2. Scope of Representation
Agent's exclusive right to represent the Owner and the Property shall include, but not be limited to, the following services: listing the Property on multiple listing services, advertising and marketing the Property, arranging and conducting property showings, negotiating offers, facilitating the transaction, and all other actions reasonably necessary to effectuate the sale of the Property.
The term of this Agreement shall commence on the Effective Date and continue for a period of one (1) year, unless earlier terminated in accordance with the provisions herein (the "Term"). The Parties may mutually agree, in writing, to extend the Term for additional periods of time.
3.1. Pre-Existing Contracts and Negotiations
This Agreement shall not apply to any contract or negotiation, written or oral, between Owner and any third party, which pre-dates the Effective Date, provided that Owner gives Agent written notice of such pre-existing contract or negotiation within ten (10) days after the Effective Date.
3.2. Personal Contacts and Referrals
Owner may directly negotiate and complete a transaction with any person or entity that it can demonstrate was a personal contact or referral made prior to the Effective Date, provided that Agent is informed in writing of such contact or referral, and provided further that no commission or other form of remuneration is payable to Agent in connection with such transaction.
Agent acknowledges and agrees that its exclusive rights under this Agreement are subject to the following limitations:
4.1. Owner's Right to Terminate
Owner shall have the right to terminate this Agreement at any time with or without cause upon thirty (30) days' written notice to Agent. Upon termination, any rights granted to Agent under this Agreement shall immediately and automatically revert to Owner, and Agent shall cease all marketing, advertising, and other activities related to the Property.
4.2. Agent's Performance
Nothing in this Agreement shall preclude Owner from terminating the Agreement if Agent fails to diligently and competently perform its duties and obligations hereunder, including but not limited to marketing, advertising, and otherwise promoting the sale of the Property in accordance with recognized professional standards in the real estate industry, with such termination to be effective upon thirty (30) days' written notice to Agent.
4.3. Legal Compliance
All rights granted to Agent under this Agreement are subject to compliance with all applicable federal, state, and local laws, ordinances, and regulations, as well as any applicable rules and regulations of any industry association or organization to which Agent belongs.
This Agreement shall be governed by and construed in accordance with the laws of the United States and the state in which the Property is located, without regard to conflicts of law principles. The Parties agree to abide by all applicable laws, ordinances, and regulations in performing their respective duties and obligations hereunder.
6.1. Entire Agreement
This Agreement contains the entire understanding of the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations, and understandings, oral or written. Any amendment or modification of this Agreement shall be effective only if in writing and signed by both Parties.
If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, the remaining provisions shall not be affected or impaired in any way, and the Parties agree to submit to such court for a determination of a valid, legal, and enforceable replacement for the invalidated provision, which most closely approximates the intent of the Parties.
6.3. Binding Effect
This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and assigns.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument.
Login to Create your Exclusivity Agreement now
In this Exclusivity Agreement, you will see the following sections:
Create your Exclusivity Agreement now