Date: July 5, 2022Attorney: Lawrence C. Weiner

  1. Any Exclusive Listing Agreement should cover both a sale and a lease. Deals change and you want to be protected for either scenario.
  2. The Exclusive Listing Agreement must have a definitive end date and cannot contain automatic renewals.
  3. As to payment of the commission on a sale, include language that the commission will be paid at closing out of the sale proceeds. This will protect your ability to claim an equitable lien on such proceeds.
  4. The Exclusive Listing Agreement should contain an attorneys’ fees clause and a default interest clause.
  5. Make sure that there is a provision that requires the owner to refer you any contacts, interest, inquiries, etc. concerning the property and that all negotiations are to be through you, the Broker.