When it comes to selling vacant land, it`s important to have a clear and agreed-upon listing agreement in place. This ensures that both the seller and the real estate agent are on the same page about the terms of the sale, as well as any fees and commissions involved.
A vacant land listing agreement should specify the details of the property being sold, including its location, size, and any zoning restrictions or easements. It should also include the asking price, any desired contingencies, and the length of the listing agreement.
In addition to these basic details, there are a few other important points to consider when drafting a vacant land listing agreement:
1. Commission: Typically, the real estate agent`s commission for selling vacant land is a percentage of the sale price. However, it`s important to clarify whether this commission will be paid by the buyer or the seller (or split between the two).
2. Marketing: The listing agreement should specify the marketing plan that the agent will use to promote the property, including any online listings, print ads, or signage.
3. Showings: The agreement should also outline the process for scheduling and conducting property showings, as well as any restrictions or requirements for potential buyers (such as pre-qualifications or background checks).
4. Responsibilities: Both the seller and the agent should be clear on their respective responsibilities during the sale process. For example, the seller may be responsible for keeping the property in good condition and providing access for showings, while the agent is responsible for handling negotiations and paperwork.
Overall, a well-written vacant land listing agreement can help ensure a smooth and successful sale process. By clarifying the terms of the sale upfront, both the seller and the real estate agent can work together to achieve their goals.