LISTING AGREEMENT

This is a legally binding contract. If you do not understand it, seek legal advice.

Client: ______________________________________________ Client: _________________________________________________

(Print) (Print)
Responsible Broker and Brokerage Firm: __________________________________________________________________________
(hereinafter referred to as Broker)
Listing Date: ____________________________________________ Expiration Date: ____________________________________
If a Purchase Agreement is entered into by the Client(s) during the term of this agreement, the termination thereof shall extend to and
include the date of closing under said Purchase Agreement.
I. IF THE BROKER REPRESENTS THE CLIENT: If a broker enters into an agreement to represent the client, the broker and all
agents associated with that broker represent the client. An agent/subagent owes the client the duties of loyalty, obedience, accounting,
disclosure, and confidentiality.
II. IF THE BROKER APPOINTS AN AGENT TO REPRESENT THE CLIENT: If a broker enters into an agreement to
represent the client, the broker appoints _______________________________________________________________ as the client’s
appointed agent. For the purposes of this agreement, the client shall have an agency relationship with ONLY the appointed agent, the
responsible broker _____________________________________________________________ and, if applicable, responsible broker’s
designated broker _____________________________________________________________.
The responsible broker may appoint other affiliated agents during the term of the brokerage agreement should the appointed agent not
be able to fulfill the terms of the brokerage agreement or as by agreement between the responsible broker and the client. An
appointment of another affiliated agent or an additional affiliated agent does not relieve the first appointed agent of any duties owed to
the client. In an appointed agency relationship, the responsible broker and, if applicable, the responsible broker’s designated broker
will act in a limited agency capacity.
III. IF THE BROKER OR APPOINTED AGENT REPRESENTS BOTH THE SELLER/LANDLORD AND THE
BUYER/TENANT: A real estate broker acting directly or through an appointed agent can legally be the agent of both the
seller/landlord and the buyer/tenant in a transaction, but only with the knowledge and written consent of both parties. If a buyer/tenant
represented by a broker wants to see a property of a seller/landlord being represented by the same broker, the following provisions will
govern the actions of the broker.
A. The broker may not knowingly say anything or do anything which might place one party at a disadvantage, disclose
personal confidences of one party or the other party, or any other information a party specifically instructs the broker
in writing not to disclose, unless disclosure is required by law.
B. The broker may not, without the prior express written consent of the owner, disclose to the buyer/tenant that the
owner might accept a price less than the listing price, nor shall the broker, without the prior express written consent of
the buyer/tenant, disclose to the owner that the buyer/tenant may be willing to pay a higher price, or accept terms less
favorable to the buyer/tenant than those indicated in the buyer’s/tenant’s previous offer.
C. The broker may not represent the interests of either the owner or buyer/tenant to the detriment of the other party. The
broker is obligated to inform each party of all facts the broker knows which would affect the party’s decision to
permit the broker to represent both the owner and the buyer/tenant.
CONSENT AGREEMENT: If the seller/landlord elects to negotiate with a buyer/tenant that is a client of the broker, or a
buyer/tenant elects to negotiate with a seller/landlord that is a client of the broker, it is understood that both parties will be required to
confirm, in writing, their election to have the broker act as a consensual limited agent.
AGENT OBLIGATIONS: Regardless of representation, the broker shall: Disclose all known material facts about the property
which could affect the client’s use or enjoyment of the property, disclose information which could have a material impact on either
party’s ability to fulfill their obligations under the purchase/lease agreement, respond honestly and accurately to questions concerning
the property, and deal honestly and fairly with all parties. The duties of the broker in a real estate transaction do not relieve an owner
or client from the responsibility to protect their own interests. You should carefully read all documents to assure that they adequately
express your understanding of the transaction. If you have questions regarding the duties and responsibilities of the broker, you
should resolve those questions before proceeding further.
Having read and understood this information about agency, the client acknowledges and consents as initialed:

I agree to an appointed agency relationship as described in section II above. Yes _____/_____ No _____/_____ N/A ____/_____

I agree to a potential limited agency representation as described in section III above. Yes____/____ No ____/____ N/A ____/_____

INITIALS: CLIENT ____________ CLIENT ____________

RASE Listing Agreement Page 1 of 3 Revised: 6/2015

1. PROPERTY DESCRIPTION. In consideration of Broker’s efforts to obtain a Purchaser and to cooperate with other brokers,
Client(s) hereby grant Broker the exclusive right to sell the following property:
_______________________________________________________________________________________________________
Also known as: (Address) _________________________________________________ Parcel ID: ________________________
City______________________________________ County ________________________ State_________ Zip ______________
For the sum of: ___________________________________________________________________________________________
($_________________) on the following terms: ________________________________________________________________,
or with Client(s) consent, for a lesser sum or on other terms, which price includes all encumbrances, taxes, and assessments.
2. BROKER SERVICES AND COMPENSATION. Client agrees to pay a fee for professional services of $_______________
OR______________ percent of the selling price plus appropriate sale tax. Client further agrees that Broker or Broker’s
authorized representative may act as escrow agent for all money, papers, and documents associated with this transaction.
a. Client authorized Broker, by initials in appropriate space to:
i. Cooperate with other Brokers………………………………………………YES ______/______ NO______/_______
ii. Compensate cooperating Brokers: $_____________OR __________%.......YES ______/______NO______/_______
b. If during the period of this agreement the property is sold by Client, Broker, a cooperating Broker, or anyone else; or should
any of the above produce a Purchaser ready, willing, and able to purchase the property; or within________________ days
after the expiration of this contract or mutual written termination of this contract, a sale is made to any person to whom the
property has been shown during the listing period; Client agrees to pay compensation as outlined above. If this property is
listed with another licensed real estate Broker after expiration of this listing or mutual written termination of this contract,
this contract shall be null and void in its entirety.
c. The term “sale” shall be deemed to include any exchange or trade to which Client consents. In the event of an exchange or
trade, Broker is permitted to represent and receive compensation from both parties. The Client acknowledges that there may
be tax consequences arising out of the sale of this property and is advised to seek competent tax advice.
3. EARNEST MONEY. If an accepted offer and agreement to purchase does not close, both Buyer and Seller must agree in
writing to the release of earnest money as described in the Purchase Agreement. If earnest money deposited by the Buyer is
forfeited, the earnest money, less expenses, shall be divided between Broker and Client with___________ % to Client
and____________ % to Broker. However, in no case may the Broker’s share exceed the commission stated herein.
4. PERSONAL PROPERTY. The following personal property is included, free of liens, in the stated price:
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
5. AUTHORIZATIONS. Client authorizes Broker, by initials in the appropriate space to:
A. Place property with the Multiple Listing Service within 48 hours (two business days) of Listing Date.
(If no, complete 5-a below) YES_____/_____ NO_____/_____
B. Place a “For Sale” sign on property. YES_____/_____ NO_____/_____
C. Install a lockbox on the property. YES_____/_____ NO_____/_____
D. Request mortgagee to release information to Broker. YES_____/_____ NO_____/_____
E. Request utility companies to release information to Broker. YES_____/_____ NO_____/_____
F. Disclose to buyers the existence of multiple offers. YES_____/_____ NO_____/_____
G. Advertise by computerized or other media.
I. Pass to Internet YES_____/_____ NO_____/_____
II. Internet Address Display YES_____/_____ NO_____/_____
III. Show AVM (automated valuation model) on VOW YES_____/_____ NO_____/_____
IV. VOW Consumer Comment YES_____/_____ NO_____/_____
5a) Per Section 1 of the MLS Rules and Regulations, all residential, land, and multi-family listings (4-plex or less) are required
to be placed on MLS within 48 hours (two business days) of Listing Date, unless the client gives specific instruction otherwise.
If this is the case, please indicate when this listing is expected to go on MLS: ________________________________________.

RASE Listing Agreement Page 2 of 3 Revised: 6/2015

Property Address: __________________________________________________________________________________________

6. NONDISCRIMINATION. REALTORS® shall not deny equal professional services to any person for reasons of race, color,
religion, sex, handicap, familial status, national origin, gender identity, or sexual orientation. REALTORS® shall not be parties
to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial
status, national origin, gender identity, or sexual orientation.
7. DISCLOSURES
a. Seller(s) shall complete and submit a Seller’s Property Condition Disclosure Statement as required by SDCL 43-4-38,
unless exempt pursuant to SDCL 43-4-43, with this Listing Agreement. Seller(s) agree(s) to indemnify and hold
harmless Broker and Broker’s agents from any claims(s) arising out of misrepresented or incomplete disclosure
statements made by Seller(s).
b. Seller shall complete and submit a lead-based paint disclosure if property is residential and was built prior to 1978 as
required by federal regulation.
8. OFFER PRESENTATION. Client(s) request that the listing agent or his/her representative be present at all offer presentations.
9. DO NOT CALL. Client(s) understand(s) that this Listing Agreement extends permission to members of the REALTOR®
Association of the Sioux Empire, Inc. to telephone Client(s) for purposes related to the sale of this property, even if Client(s) are
registered on the Do Not Call Registry. Telephone Number(s): _____________________________________________________
10. Additional Provisions: _____________________________________________________________________________________
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
Receipt of copy of this contract by the Client has been acknowledged.

_________________________________________________ ___________________________________________________
Client (date) Client (date)

_________________________________________________ ___________________________________________________
Agent (date) Broker (date)

RASE Listing Agreement Page 3 of 3 Revised: 6/2015