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New Jersey Real Estate Listing Agreement

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New Jersey Real Estate Listing Agreement

Updated August 02, 2023

A New Jersey real estate agent listing agreement is a legal document that establishes a bond between a real estate agent and an individual trying to sell a piece of real estate. In order for the agent to submit their client’s property for sale on the MLS, a listing agreement must be signed and submitted to the Service. The agreement outlines the terms and conditions of the arrangement, such as price, commission, expiration, the rights, and obligations of each party, and will include all the necessary information concerning the property and its owner. The MLS accepts exclusive right to sell agreements and exclusive agency agreements. The former assigns the agent singular control over the marketing, advertising, and selling of the property, and, by selling the property, is awarded the commission even if the seller finds a buyer without the agent’s help. An exclusive agency contract allows the seller to find a buyer and sell the property without paying the agent a commission.

Consumer Information Statement on New Jersey Real Estate Relationships (§ 11:5-6.9) – Before any information is exchanged between a real estate agent and a potential client, the agent must provide a Consumer Information Statement to inform the client about the types of relationships between agent and client.

Dual Agency (§ 11:5-6.9) – Agent must have the written consent of both parties, buyer, and seller if they are to represent both parties in a real estate transaction.

Property Disclosure Statement (§ 46:3C-10) – Seller is responsible for disclosing to a potential buyer any conditions that may materially affect the value of the property.

Search a Licensee – Use the Real Estate Commission web portal to search for a licensed real estate broker.

Realtor Version

New Jersey Association of Realtors Listing AgreementPDF