Terms of Service
Terms of Service-
This agreement is
made between Pay It Forward Realty, LLC (Company) and the
Property Owner (“Seller”), as identified on the MLS Data Input Form,
which is incorporated herein by reference.
1.
Real Estate Services
~ Refunds may be
requested before the listing becomes active on MLS. Once active, the full
listing fee is considered earned, and no refunds will be issued.
~ The company will List Seller’s property on MLS (Multiple
Listing Service) according to the Data Sheet approved by Seller.
~ The seller is responsible for making sure the
information on MLS is updated and accurate.
~ The “Company” will Distribute listings to the MLS and
multiple other sites associated with the MLS as well as various Social Media
sites.
~ Seller may update their MLS listing at any time
through the Company’s website.
~ The “Company” will handle the acceptance,
presentation, and forwarding of offers, counter offers, leases, or exchanges
related to the property as directed by the State of Utah.
~ The “Company” will support the Seller with responses
to inquiries, provide guidance in addressing offers, contracts, disclosures, and
closing documents when requested by seller as is required by the DRE.
~ The “Company” shall provide online forms and
disclosures accessible through the Company’s Website.
~ The Seller may cancel Listing agreement at any time
with written notice of at least two business days prior and if there are no
pending offers on property. If a Buyer or Buyer’s agent had viewed the property
before cancelation and their offer was presented and accepted within 3 months after
Cancellation, then Section 7 still applies concerning that offer.
2. REPRESENTATION &
RELATIONSHIPS
By signing the
Listing Agreement, the Seller appoints the Principal or Branch Broker of the “Company”
(the “Broker”) as their authorized agent. The Seller authorizes the Broker to assign
another agent within the “Company” to assist in advertising and representation
duties as deemed necessary by Broker. This assignment will be communicated via
email or text. The assigned agent’s contact info will be listed on the MLS. As
the Seller’s fiduciary representatives, the agent must act with honesty,
loyalty, full disclosure, confidentiality, care, and in accordance with legal
obligations.
Limited/Dual Agent- The Seller
acknowledges that the Seller’s Agent and Broker may, now or in the future,
represent the buyer interested in purchasing the property. In such cases, they
may act as Limited/Dual Agents, simultaneously representing both
sides and owing fiduciary duties to both the Seller and the Buyer, with certain
limitations. These duties include maintaining neutrality, which prevents the
agent from sharing confidential or bargaining information that could diminish
either party’s leverage (such as the highest offer the buyer will make or the
lowest price the Seller will accept). However, the agent must still disclose
confidential information if withholding it would constitute a material
misrepresentation regarding the property or the parties’ ability to perform.
The Seller understands that they retain the right to have separate
representation, and any dual agency will require a signed consent agreement
from both Seller and Buyer.
3. Seller
Responsibilities
The Seller agrees to
promptly notify the “Company” of all changes impacting the Listed property
immediately. These include but are not
limited to accepting an offer (going under contract) and (sold) closing on the
sale of the property.
Copies of any
contracts, disclosures, or addendums must be provided within 24 hours of
signing. Additionally, the Seller will share the full contact information for
the closing, such as the Title company, the Escrow officer, Buyer’s agent,
Mortgage Loan Officer, etc. via email to “Company”. Seller is responsible to
communicate with Buyer’s and Buyer’s agents in a timely manner whether it is
setting up showings, responding to offers, counter offers, setting up
inspections, appraisals, and anything that deals with selling their property.
4. Safeguarding
Personal Property
Seller is informed
that there could be risks to personal property when selling a home and having
potential Buyers and their agents tour the home. The Seller acknowledges that the Company is
not an insurer against the loss of or damage to personal property. The Seller agrees to hold the “Company”
harmless from any loss or damage that might result from any authorizations
given on behalf of Seller.
5. Signage &
Photos
ONLY BROKERAGE SIGNS
ARE PERMITTED PER MLS RULES. The Seller agrees to use only a
licensed brokerage sign or may elect to have no signs at all. A sign frame is
purchasable locally; signs are shipped within 3-5 business days. Unauthorized
signs such as “For Sale by Owner” or other non-brokerage signs may not be in
pictures and must be removed before listing activation to avoid a $100 fine. If Seller breaks this rule and a fine is
imposed to Seller and/or “Company”, the Seller will be solely responsible to
pay all fines imposed to Seller and/or “Company” within 7 business days of the
fine being imposed.
Unauthorize use of photos may result in a $1,000 fine. Photos on the MLS and other advertising list must be original or licensed. The Seller agrees to these photo and signage policies and shall pay any fines imposed within 7 business days.
6. Buyer’s Agent
Commission
The MLS will no
longer allow Sellers/Agents to display commissions payable to buyer’s agents. Note:
Sellers can still offer a commission. Agents
may contact the Seller directly for details or may put the Buyer’s commission
into the offer from the Buyer. Commissions are negotiable.
While you have no
obligation to offer a commission keep in mind that offering low to no
commission to the Buyer’s agent may make costs to the Buyer go up. This could make them decide not to see or
offer on your property.
If an agent or the “Company”
finds a buyer willing and able to purchase the property during the listing
period at the listed terms or negotiated terms, the Seller agrees to pay a
buyer-agent commission, which will be negotiated at the time of offer. This
commission will be paid from the Seller’s proceeds upon closing, unless
otherwise agreed.
The Seller
authorizes Pay It Forward Realty LLC to facilitate and formalize compensation
agreements with the Buyer’s Brokerage based on the negotiated commission.
7. Transaction Fee
A fee of 0.25%
of the final sale price will be collected at closing.
For example:
If the agreed
commission to the buyer’s agent is 2.25%, the total payable to the Pay It
Forward Realty will be 2.50% (the 2.25% plus the 0.25% transaction fee).
If no buyer’s agent
is involved, only the 0.25% fee applies.
8. Lead-Based Paint
Disclosure (Homes Built Before 1978)
Seller is responsible
to provide the buyer/agent with the EPA-disclosure brochure titled “Protect
Your Family from Lead-Based Paint” which is available through the
Company’s website.
9. Disclosure of
Hazards
The Seller agrees to
disclose immediately if Mold, Asbestos, Radon, etc. is present on the property.
These items could pose health risks to Buyers and Agents.
10. Right to Sell
The Seller affirms
they own clear, marketable title and have the legal right to sell the property.
11. Termination
& Cancellation
Refunds may be requested before the listing becomes
active on MLS. Once active, the full listing fee is considered earned, and no
refunds will be issued.
12. Liability
Limitation
In case of disputes
involving acts or omissions by the Seller, Buyer, Agents. The Seller agrees to
hold the “Company” including Broker, Agents, Staff, and its affiliates harmless
from liability. If a court or arbitrator holds the Company liable, the Seller
agrees to limit damages to the amount of the original fee charged to List their
property on the MLS.
13. Fair & Equal
Housing Commitment
The Seller and Pay
It Forward Realty LLC agree to comply with all applicable federal, state, and
local fair housing laws.
14. Electronic Transmission
& Counterparts
Electronic
transmission (including email and fax) of a signed copy of this agreement as
well as Listing Agreement including any addendums, Purchase agreement &
Addendums, and other forms and disclosures connected with the Sale of the
Listed property, and the retransmission of any signed electronic transmission,
shall be the same as delivery of an original.
These Agreements and any addenda may be executed in counterparts.
15. Seller
Acknowledgments
Seller agrees and prefer to manage all showings, negotiations, and paperwork
independently, complying with the State of Utah and Division of Real Estate
regulations. Seller will and shall provide copies of all signed documents
promptly to the “Company” to ensure proper compliance with the State of Utah
and MLS. Seller acknowledges that they have full access to the “Broker” of Pay
It Forward Realty, LLC to answer any questions and/or guide Seller through
their transaction. Seller acknowledges
that they can upgrade to a higher program offered by Company with an additional
fee due at closing to ensure that transaction complies with State and MLS
regulations any time before Closing.
All property owners
must type their name below as an electronic signature. Business entities must
include the authorized individual’s name.
By entering your
name and clicking “Continue,” you agree to the Terms of Service outlined above.