Flat Fee Listing Agreement

LIMITED REPRESENTATION AGREEMENT
THIS IS A LEGALLY BINDING CONTRACT. IF NOT UNDERSTOOD, SEEK LEGAL ADVICE.

For the consideration set forth herein, Owner(s) listed below, (hereinafter collectively and individually "Owner") employs Flat Fee Realty, L.L.C.   (hereinafter "Broker") to assist, counsel and represent Owner in selling Owner's property as described below. Said employment shall commence on the date of acceptance of this agreement by the Broker and Owner and shall continue for a period of 365 days hereafter.

1. CONCEPT OF EMPLOYMENT: Owner enters into this agreement (“Agreement”) to obtain Broker's assistance in the Owner's efforts to find a buyer for the Property. Owner recognizes that savings can be accomplished by Broker assisting Owner in certain functions and by having Owner perform certain marketing and sales functions such as showing the Property and holding open houses, negotiating with a potential buyer, etc. For that reason, the Agreement serves to employ Broker as Owner's agent only for the limited services specified below.

2. DESCRIPTION OF THE PROPERTY: Owner represents and warrants to Broker that Owner is the sole owner(s) (or the authorized agent to act for the owner(s)) of the property described above.

3. LISTING PRICE: Owner hereby instructs the Broker to list the Property for sale at the price listed above. [Notice: Please make sure you do not make a clerical error when you insert the price. Broker will not investigate nor inquire whether the listing price you insert here, or elsewhere, is improper in any way and/or does not reflect the approximate value of The Property.  Broker will not investigate nor inquire whether the listing price is sufficient to pay off all monetary encumbrances, if any, upon sale.]

4. OWNER'S DISCLOSURE REQUIREMENTS / INDEMEMNIFICATION OF BROKER: Owner represents that the preparation and signing all necessary and/or required forms, documents, and other agreements in connection to the sale of the Property are the sole responsibility of Owner, and Broker makes no representations as to the appropriateness of such forms, documents, and other agreements. Owner understands that Broker is relying on the truthfulness and completeness of Owner's statements and information made or provided to Broker, and/or to buyers and prospective buyers (hereinafter collectively and individually “Buyer”) . Owner further understands that Owner shall be liable for, pay for, and indemnify and hold Broker and/or Buyer or any other third party holding an interest in the Property harmless from any damages (including but not limited to attorneys fees), claims, judgments or expenses arising out of, or asserted as a result of, any false or inaccurate statements of information, or withholding information from Broker or Buyer, for a breach of any covenant, acknowledgment or representation of Owner made herein, and/or for any failure to disclose any material fact, and/or any alleged defect or condition of the Property. This indemnification applies to events and acts where it is alleged that Broker has been negligent. Owner is aware that various home protection/warranty plans are available for an additional fee.

5. SERVICES OF BROKER: Broker will submit information on Owner’s behalf about the availability for sale and terms of sale of Owner's Property to the Regional Multiple Listing Service (RMLS) database.

6. MULTIPLE LISTING: Broker is a member of the Regional Multiple Listing Service (hereinafter “RMLS”). The RMLS publishes listing information to its members and to others through various currently available Internet “web sites.” In order to do this, the RMLS requires that certain information be provided to the RMLS, which it stores in its database. Some of that information is required to be provided, and all other information may be included at Owner’s option.

Owner shall provide Broker with the information required by the RMLS, and shall also provide to Broker, at Owner’s discretion, with the optional information. Broker will, in turn, submit the required and optional information to the RMLS.
Broker is not required under this Agreement, but is nevertheless authorized by Owner to cooperate with other real estate brokers, to report the status of availability, its sales price, terms and financing information in the publication for, dissemination to, information for and use by authorized Association/Board members, RMLS participants and subscribers upon their request.
 

Owner understands and acknowledges that Broker’s business and services are not owned or affiliated with, or necessarily endorsed by, the RMLS. Owner and Broker must abide by all rules and regulations set forth by the RMLS, which is subject to change by the RMLS at their discretion. In the rare event that Broker’s services are not permitted under future RMLS rules and regulations, Broker shall not be required to perform additional services, and Broker will be entitled to a pro rata share of listing fees during the time period that such services were permitted.

7. FEES:
(a) Owner shall pay Broker a one time non-refundable listing fee of $200, upon submitting this Agreement, as payment for the services rendered by Broker pursuant to the terms of this Agreement.

(b) Owner agrees to pay a commission of $1.00 (one dollar, no cents) to Broker if the Property is sold, traded or in any other way transferred or disposed of either by Broker or by anyone else within the time specified in this listing.

Owner understands and acknowledges that in order to sell Owner’s property, Owner should be prepared to offer a commission to the broker who represents the buyer of the property, for his or her work. This commission is not paid to Flat Fee Reality, LLC. NOTICE: Oregon law does NOT fix the amount of any real estate commission payable to the broker who represents the buyer of the property. These commissions are set by each broker individually, and the amount may be negotiated between a seller of property and that (Buyer’s) broker.

8. SERVICES AND COVENANTS OF OWNER; As an integral part of this Agreement, and in order to enable Brokers to effectively assist and represent Owner, Owner agrees, that during the term of this Agreement, Owner shall perform all duties required and/or necessary to sell the Property (other than Broker’s duties under paragraph 5), including but not limited to the following:

(a) Owner shall show the Property to potential buyers, hold open houses and conduct walk through tours and inspections of the Property with potential buyers. Owner understands that open houses on all available times will significantly increase their exposure to potential buyers.

(b) Owner shall be responsible for ALL print, radio, television media advertising and it's cost thereof.

(c) Owner shall abide and comply with all laws and regulations applicable to the sale of real property (including local signage regulations), identify all known defective or detrimental conditions of the Property to any potential buyer and, prior to entering into any agreement for sale of the Property, Owner shall disclose to Buyer; (1) any existing, or potential, violations of law, title defects or zoning violations; (2) any known plumbing, roofing, heating, electrical, title or boundary defects, (3) type of sewage source and quality of water supply, type of insulation and
any other items known to be in need of repair, as well as other reasonably discernible, detrimental conditions of the Property. Owner shall also discuss possible detriments, including, but not limited to, earthquake faults, land movements, toxic dumps, flooding potential, pending improvements, lack of access, environmental concerns together with any other conditions that might affect a buyer's decision to purchase. (Note: this paragraph 8(d) does not constitute a complete list of all things that a seller of real property is required to do under applicable law and regulations. Owner is encouraged to seek the advise of a qualified attorney for a more complete explanation of his or her rights and duties in the sale of Oregon real property.)

(d) Owner shall inform Broker within 48 hours, in writing, of any change of the sale price of the Property and/or any other material change in the terms of the sale and/ or availability of the Property.

(e) Owner shall pay for all of Owner's cost of closing involved in the sale of the Property though the appointed Title Company.

9. OWNER'S ACKNOWLEDGEMENTS: In addition to other acknowledgments, representations and warranties set forth in this agreement, Owner acknowledges, represents, and warrants, as the case may be:

(a) Brokers hereby advises Owner to consult with a qualified an attorney and/or accountant concerning any legal or tax advice concerning the sale of the Property. Owner shall be aware of certain legal requirements for print, television, media, and other advertising, and is therefore encouraged to seek the advise of a qualified attorney as to the legality of such advertising prior to publishing and/or dissemination to the public, to other brokers, and to prospective buyers any descriptions or claims relating to the Property. Owner is additionally advised that he or she has a continuing duty to ensure that his or her RMLS is accurate if circumstances about the Property or of its sale or condition have changed. Owner is encouraged to seek the advise of a qualified real estate professional or attorney regarding his or her continuing duty. Broker will not review information provided by Owner to determine if he or she is acting in compliance with applicable laws and regulations. Owner understands that the things listed in this paragraph 9(a) does not constitute a complete list of all things that a seller of real property is required to do under applicable law and regulations. Owner is encouraged to seek the advise of a qualified attorney for a more complete explanation of his or her rights and duties in the sale of Oregon real property.

(b) The Property is not currently listed with any other real estate broker, and Owner has not entered into any other agreement to pay any brokerage commissions which is still in effect.

(c) Broker has not appraised the value of the Property or set the sale price of the Property, such price having been determined solely by the Owner.

(d) Broker shall have no liability regarding keys to the Property, any other means of access to the property, any showing of the Property, any use of signs and other sales materials provided to Owner by Brokers.

(e) Broker shall not be responsible for any maintenance of the Property, nor shall Brokers be liable for damages or injury of any kind occurring to or on the Property, unless the two following conditions both exist: (i) such damage is caused by the sole gross negligence of Broker and; (ii) such damage is caused by acts in the scope of Broker’s duties under this Agreement.

(f) Owner represents and warrants that the information provided to Broker pursuant to the terms of this Agreement is correct, complete, and in compliance with applicable laws and regulations.

(g) Owner represents and warrants that Owner’s title is a good marketable title, and that there are no violations of any laws or regulations relating to the Property.

10. RELATIONSHIP OF THE PARTIES: Nothing contained in this Agreement shall be deemed or construed by the parties, or by any third party as creating a partnership or joint venture between the parties hereto. To the extent and for the specific purposed expressly stated herein and as may be imposed by law, this Agreement creates a principal agency relationship between Owner and Broker. Owner is aware of Broker's policy NOT to offer subagency to other brokers.

11. INDEMNIFCATION/HOLD HARMLESS: Seller irrevocable agrees to indemnify Broker and to hold Broker harmless from any and all claims, actions, lawsuits, and causes of action (including attorney fees), whether or not frivolous, arising out or relating to the Property, regardless of whether such claims, actions, lawsuits or causes of action are adjudicated.

12. DISPUTES: Should a dispute or claim arise out of this Agreement, the prevailing party shall be entitled to a reasonable attorney's fee and costs in addition to any award or relief.

13. NON-DISCRIMINATION: Brokers and Owner agree that they will not discriminate against any prospective buyer because of race, creed, color, age, martial status, handicaps, sexual orientation, national origin, of any such person(s), or on any other basis forbidden by law.

14. SEVERABILITY: Should a conflict(s) exist between any provisions of this Agreement and any other applicable state or local law, rule or regulation, the latter shall control. In such event, no other provision of this Agreement shall be invalidated, in whole or in part, and this Agreement and incorporated modification, if any together shall be legally binding on the parties hereto.

15. TERMINATION: Owner may terminate this Agreement upon 5 days advance written notice in the event there is not then pending a contract for the sale of the property which would result in a Buyers Agent commission being payable to any real estate agent. Broker may terminate this Agreement upon 24 hours written notice, or sooner if Broker determines in its sole discretion that Owner has failed to comply with applicable laws and regulations. If Broker elects to terminate this Agreement due to Owner’s non-compliance with any portion of this Agreement, said fee is NON-REFUNDABLE.

16. LISTING CHANGES: Seller may add to or change the information or pictures contained in the listing up to 3 times without charge therefore. All additional change request will be processed for an additional Listing Change Fee of $25 per change request, to be paid in advance along with the request for such a change. (This charge shall not apply to a change in status to pending, sold , or withdrawn). All changes must be requested in writing and signed by seller and delivered to listing agent  (facsimile copies and emails are accepted) along with payment of said fee.

17. ASSIGNABILITY: This Agreement may not be assigned by Owner without the prior written consent of Broker. Notwithstanding the foregoing, this Agreement is binding upon the parties’ respective successors in interest, assignees, heirs, and personal representatives.

18. ENTIRE AGREEMENT. This Agreement contains the entire Agreement between the parties, and supercedes all other Agreements and representations (including but not limited to Broker’s website and/or literature) concerning the subject matter set forth herein. This Agreement cannot be modified except in writing by the parties.

19. GOVERNING LAW. This Agreement shall be interpreted and enforced pursuant to the laws of the state of Oregon.

20. LIMITATION OF LIABILITY.

NOTWITHSTANDING ANY OTHER PROVISION IN THIS AGREEMENT THAT IS, OR MAY BE TO THE CONTRARY, BROKER’S LIABILITY TO OWNER, OR TO ANY THIRD PARTY, FOR DAMAGES FOR ANY CAUSE WHATSOEVER, AND REGARDLESS OF WHETHER SUCH CLAIM ARISES IN CONTRACT OR TORT, SHALL BE LIMITED TO THE CONTRACT PRICE. WITHOUT LIMITING THE FOREGOING, OWNER SHALL NOT BE LIABLE FOR DAMAGES RESULTING FROM LOSS PROFITS, OR ANY INCIDENTAL, INDIRECT, OR CONSEQUENTIAL DAMAGES IN CONNECTION WITH THIS AGREEMENT, THE PROPERTY, AND/OR THE SERVICES RENDERED IN CONNECTION THERETO.

21. MEDIATION: All claims or causes of action relating to this Agreement (except for claims or causes of action which fall within the jurisdiction of small claims court in the State of Oregon) shall be submitted to mediation in accordance with the procedures of the Home Seller/Home Buyer Dispute Resolution System of the National Association of REALTORS, or other organization-adopted mediation program (collectively “the System”). Provided, however, if the licensee’s principal broker is not a member of the Nation Association of REALTORS, or the System is not available through the Principal Broker’s Association of REALTORS, then all claims or causes of action shall be submitted pursuant to: (1) the special mediation program administered by Arbitration Service of Portland for the mediation of Claims in those geographic areas where the System is not available through the principal broker’s Association of REALTORS, or (2) any other impartial private mediator(s) or program(s) providing such service in the county where the Property is located, as selected by party first filing for mediation.

22. ARBITRATION: All claims or causes that have not been resolved by mediation, or otherwise, shall be submitted to final and binding private arbitration in accordance with Oregon law. Notwithstanding the foregoing, the parties are not obligated to submit claims or causes of action to such arbitration if things which fall within the jurisdiction of small claims court in the State of Oregon. Filing for arbitration shall be treated the same as filing in court for purposes of meeting any applicable statutes of limitation. Venue for all lawsuits and claims (regardless of whether they are arbitrated or whether they fall within the jurisdiction of small claims court, shall be within the County of Multnomah, State of Oregon.) BY CONSENTING TO THIS PROVISION, YOU ARE AGREEING THAT DISPUTES ARISING UNDER THIS AGREEMENT SHALL BE HEARD AND DECIDED BY ONE OR MORE NEUTRAL ARBITRATORS AND YOU ARE GIVING UP THE RIGHT TO HAVE THE MATTER TRIED BY A JUDGE OR JURY. THE RIGHT TO APPEAL AN ARBITRATION DECISION IS LIMITED UNDER OREGON LAW.

23. In submitting this agreement OWNER acknowledges they have read and understand the frequently asked questions posted at: http://www.FlatFeePdx.com/FAQ.htm

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