Hillman Real Estate MLS Rental Agreement
Listing Activation Date:
Tenant's Agent Compensation:
For the purpose of this Rental Listing Agreement between Hillman Real Estate and the Owner / Landlord, for the purposes of this agreement, the licensed Real Estate Broker/Brokerage shall be referred to as the ("Listing Broker") or ("Hillman Real Estate") and the Owner/Landlord shall be referred to as the ("Landlord"), while the rental unit for lease shall be referred to as the ("Property"). The following terms are as follows:
- The Listing Broker is permitted to list and market the Property for lease as an Entry-Only listing on MLS and partner sites for the duration of this Agreement - 6 months.
- This Agreement shall begin on and commence on 11/19/2019. The Listing Brokerage, Hillman Real Estate will be paid a flat fee of $250.00 prior to the activation of said MLS listing. No other fee will be paid to the Listing Broker for listing the Property. This listing fee is non-refundable.
- The Listing Broker agrees to forward all inquiries to the aforementioned Landlord. All inquiries made by phone and email will be forwarded to the Landlord in a timely fashion.
- The Landlord agrees to check their email daily and respond to all inquiries in a respectful and timely fashion; disclose to prospective Tenants all information about the Property provided to the Broker by the Landlord, all of which the Landlord represents to be accurate. For properties built before 1978 the Landlord agrees to complete a Tenant Lead Law Notification and to provide Broker with copies of all records concerning the presence of lead paint. The Landlord agrees to comply with all applicable fair housing laws.
- If The Landlord would like to offer compensation (finder’s fee) to a Rental Agent working with a prospective Tenant(s) the amount will be published on the Agent/Broker MLS listing sheet. This amount will not be publically visible. Although offering a finders fee compensation is optional, it can increase the chances of finding a tenant more quickly. A typical fee for a 12-month residential lease is equal to one months rent.
- Cooperating Agents / Brokers. To entice Agents who are working with people who are looking for a rental unit, the Landlord may offer compensation to the Tenants Agent. The amount of compensation will be noted on the MLS listing and will be paid to the Brokerage representing the Tenant at the time the lease is signed or on the lease commencement date. Payments should be made out to the Tenants Brokerage not the Rental Agent. If an Agent shows the rental unit to a potential Tenant and the Tenant decides to go around the Rental Agents back and contacts, the Landlord directly, the Landlord is still obligated to pay the Agent the fee as the Agent was still the procuring.
- The Listing Broker is not hired as a property manager, property inspector, tax advisor or attorney and if such services are desired The Landlord should hire professionals. Unless expressly agreed, Broker shall have no duty to act as escrow agent with regard to the security deposit. Landlord agrees to provide Tenant with a statement of condition and proper lead paint laws, if required.
- Lastly, the Landlord agrees to inform Hillman Real Estate as soon as a rental application is accepted so we can flag the rental listing per the rules and regulations of MLS. Once a tenant signs the lease we must know so we can close out the listing. We will need the (a) Rental Agents name (if any), (b) date the lease agreement was executed and the (c) agreed monthly rental price. We must close out listings within 24 hours of lease execution.
- Signage: MLS prohibits the use of ‘By Owner’ signs. We have high quality signs that are fully customizable. All signs come with a lawn stake, numerical stencil set and jumbo blue marker for $40.00. Priority shipping is included. Would you like a sign?