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Vermont Real Estate Agent Listing Agreement

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Vermont Real Estate Agent Listing Agreement

Updated December 28, 2022

A Vermont listing agreement is a legal document that binds a real estate broker and a property owner to an agreement by which the broker will act as representative for the sale of the owner’s property. The contract must specify whether or not the broker will be acting as the exclusive agent for the sale of real estate, and it will detail the agreement’s termination date as well as the compensation that the broker will receive. In the majority of listing agreements, the real estate agent will be given a percentage of the property’s sale price for their commission; however, compensation can also be set as a flat commission fee if both parties consent. The document must be signed by all the owners of the piece of real estate, as well as all the brokers who will be given the authority to sell said property. Once the document has been properly executed, the broker(s) will have up until the termination date of the agreement to complete the sale.

Agency Disclosure Form (§ 2296(5)) – The Vermont Real Estate Commission requires licensed brokers to disclose agency relationships with all of their consumers.

Dual Agency – Illegal in Vermont. Limited agency is allowed with written consent from the seller and buyer.

Property Disclosure Statement (§ 2296(4)) – All licensed real estate agents are legally required to provide buyers with a property disclosure statement when selling a property.

Search a Licensee – The Vermont Secretary of State webpage provides a Licensee Lookup function that may be used to verify licensed brokers.