The Exclusive Employment Agreement, or Listing Agreement, is the contract between you and the seller(s). It's the seller's permission for you, their agent, to sell their property and binds everyone to a set of terms.
**Commonly Used Abbreviation: EEA**
***REQUIRED FOR ALL LISTINGS!**
The Real Estate Agency Disclosure & Election, or simple Agency Disclosure, notifies the sellers of your fiduciary duties as their agent.
**Commonly Used Abbreviation: READE**
**REQUIRED FOR ALL LISTINGS!**
Anytime you and your seller agree to make a change to the listing, whether it's the terms agreed to in the Listing Agreement or on the Data Sheet, a Change Order will need to be filled out and signed.
The Seller's Property Disclosure Statement, whether Residential or Vacant Land, is the best way for your seller to disclose everything they know about the property to an potential buyers.
**Commonly Used Abbreviation: SPDS**
The Wire Fraud Advisory is extremely important. Wire Fraud is, unfortunately, a big issue in today's technology-driven times. You may ask why seller's need to sign something about wire fraud when they wouldn't be wiring money to sell their property. Hackers may be extremely tech-savvy however they aren't necessarily aware of how a real estate transaction works and may still attempt to get money out of your seller. You, as their agent, need to be going over this form in detail and explaining the risks.
**Commonly Used Abbreviation: WF**
**REQUIRED FOR ALL LISTINGS!**
The Lead Based Paint Addendum is a Federally mandated form. Failure to have this form, fully executed on one document (only form that cannot be done in counterpart), is subject to a LARGE fine (think a couple grand per missing initial).
**Commonly Used Abbreviation: LBP**
**REQUIRED AS SHOWN FOR ALL LISTINGS BUILT PRIOR TO 1978!**
The Home Owner's Association Addendum, or HOA Addendum, discloses to the buyer a multitude of things pertinent to their purchase of a property located in an HOA. These include the management company, contact information, and fees associated with the HOA.
**Commonly Used Abbreviation: HOA**
**REQUIRED AS SHOWN FOR ALL LISTINGS LOCATED IN AN HOA!**