Updated April 23, 2024
A North Dakota real estate agent listing agreement is a contract between a real estate agent and a client that permit the agent to sell the client’s real property. The State’s Administrative Code mentions two types of listing agreements; “exclusive agency” and “exclusive right to sell.” Both contracts allow a broker to represent a seller in a real estate transaction, but the latter awards the broker a commission regardless of how the property sells, whereas an exclusive agency contract allows the owner to make a sale without giving the broker a commission (if the broker was not involved in finding the buyer). Aside from the agent’s commission rate, a listing agreement will establish terms and conditions regarding the duties and rights of both parties, the confidential nature of information exchanged, and the termination of the agreement.
Agency Disclosure Form – When representing any party to a real estate transaction, a real estate licensee must provide a written disclosure statement to the said party upon the first contact.[1]
Disclosed Dual Agency – Written consent must be provided if an agent is to represent both seller and buyer in a property transaction.[2]
Property Disclosure Statement – By law, a disclosure statement regarding the condition of a property for sale must be presented to a potential buyer.[3]
Search a Licensee – Find a real estate licensee in your area.