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A sole selling rights agreement is a legal contract that allows a seller to appoint a specific agent or broker to sell their property. This can be anything from a house or a business to a piece of land or a vehicle. The agreement outlines the terms and conditions of the arrangement between the seller and the agent, including the duration of the agreement, commission fees, and any exclusivity rights.

If you`re a seller looking to appoint an agent to sell your property, it`s important to have a clear understanding of how a sole selling rights agreement works. To help you get started, we`ve put together a sample agreement that covers the key components of the document.

Sample Sole Selling Rights Agreement:

This agreement (“Agreement”) is entered into on [Insert Date] between [Insert Seller`s Name] (“Seller”) and [Insert Agent`s Name] (“Agent”).

1. Appointment of Agent

The Seller appoints the Agent as their sole and exclusive agent for the sale of the property described as [Insert Property Description] (“Property”). The Seller agrees not to appoint any other agent or to advertise the Property for sale during the term of this Agreement.

2. Duration

This Agreement shall commence on [Insert Commencement Date] and shall continue until [Insert Expiry Date]. The term of this Agreement may be extended by mutual agreement in writing.

3. Commission

The Agent shall be entitled to a commission of [Insert Commission Percentage]% of the sale price of the Property, payable upon completion of the sale. The commission shall be payable whether the sale is negotiated by the Agent or by any other person during the term of this Agreement.

4. Exclusivity

During the term of this Agreement, the Seller agrees not to engage in any negotiations with potential buyers or to advertise the Property for sale. The Agent shall have the exclusive right to negotiate the sale of the Property and shall be entitled to any commission payable upon completion of a sale.

5. Termination

Either party may terminate this Agreement by giving written notice to the other party. In the event of termination, any commission earned by the Agent shall be payable upon completion of the sale of the Property.

6. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of [Insert Governing Law]. Any disputes arising out of or in connection with this Agreement shall be referred to the courts of [Insert Jurisdiction].

By signing this Agreement, the Seller acknowledges that they have read and understood the terms and conditions set out herein and agree to be bound by them.

_____________________________ _____________________________

Seller`s Signature Agent`s Signature

In summary, a sole selling rights agreement is an essential document for sellers looking to appoint an agent to sell their property. This sample agreement covers the key components of the contract and can be adapted to suit your specific needs. It`s important to seek legal advice before entering into any contractual arrangement to ensure that you fully understand the terms and conditions of the agreement.