CONTRACT EMPLOYING REAL ESTATE REAL ESTATE AGENT FOR LEASE OF PROPERTY
This agreement dated __________(1)___________, is made By and Between
________(2)__________, whose address is __________(3)__________, referred to as
"Owner", AND ____________(4)_________, whose address is ________(5)__________, referred to as "REAL ESTATE AGENT."
1. Property.
The owner is the owner of the following real estate:
2. Employment of REAL ESTATE AGENT. Owner gives the REAL ESTATE AGENT the sole right to rent space in the above property to prospective tenants.
3. Commission. Owner agrees to pay the REAL ESTATE AGENT a commission of __(6)__ RAND
(R_________) 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 __(7)__ RAND (R_________) will be payable for renewals of leases originally obtained by the REAL ESTATE AGENT. All commissions will be paid out of rents received.
4. Sole Agency. I agree to refer all inquiries from prospective tenants or their REAL ESTATE AGENTs to the REAL ESTATE AGENT. The REAL ESTATE AGENT agrees to use his or her best efforts to lease the property to such prospects.
5. Other REAL ESTATE AGENTs. The REAL ESTATE AGENT agrees to obtain the assistance of other REAL ESTATE AGENTs, 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 REAL ESTATE AGENT.
6. Advertisement. The REAL ESTATE AGENT and all other REAL ESTATE AGENTs 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 REAL ESTATE AGENT 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 _______(8)_______, unless terminated prior thereto.
9. Termination. Either party may terminate this contract on twenty (20) days notice.
Such termination shall not limit the REAL ESTATE AGENTs 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 REAL ESTATE AGENT and Owner agree to the above:
Witnessed by:
___________(9)________________ ____________(10)______________
"OWNER"
___________(9)________________ ___________(11)______________
"REAL ESTATE AGENT"
