Contract Employing Real Estate Broker for
Lease of Property
This agreement dated ________________________, is
made By and Between _____________________, whose address
is _______________________, referred to as "Owner",
AND ________________________, whose address is _____________________,
referred to as "Broker."
1. Property. Owner is the owner of the following
real estate:
2. Employment of Broker. Owner gives the Broker
the sole right to rent space in the above property
to prospective tenants.
3. Commission. Owner agrees to pay the Broker a
commission of _________ DOLLARS ($_________) for services
in obtaining the tenants and in negotiating and closing
each lease. Owner reserves the right to reject any
such lease and will not be responsible for any commission
unless and until Owner accepts the lease and receive
payment therefore. A commission of __________ DOLLARS
($_________) will be payable for renewals of leases
originally obtained by the Broker. All commissions
will be paid out of rents received.
4. Sole Agency. I agree to refer all inquiries from
prospective tenants or their agents to the Broker.
The Broker agrees to use his or her best efforts to
lease the property to such prospects.
5. Other Brokers. The Broker agrees to obtain the
assistance of other brokers, as required, and to pay
same out of the aforesaid commissions provided for
in this agreement. In no event shall Owner be liable
for additional commissions due to the efforts of any
other broker.
6. Advertisement. The Broker and all other brokers
as noted above shall be entitled to advertise the
rental of this property and take all necessary steps
in accordance with this agreement.
7. Signs. The Broker will provide suitable sign
or signs to be placed on the property, subject to
my approval.
8. Term of Agreement. This agreement shall remain
effective until _____________________, unless terminated
prior thereto.
9. Termination. Either party may terminate this
contract on twenty (20) days notice. Such termination
shall not limit the Brokers right to commissions resulting
from pending negotiations
and pending leases. However, no commissions shall
be paid from rents received three (3) months after
the termination of this agreement.
10. Signatures. Both the Broker and Owner agree
to the above:
Witnessed by:
______________________________ ______________________________
"OWNER"
______________________________ _____________________________
"BROKER"
NOTICE
The information in this document is designed to
provide an outline that you can follow
when formulating business or personal plans. Due to
the variances of many local, city, county
and state laws, we recommend that you seek professional
legal counseling before entering into
any contract or agreement.
