Prepared by Worldwide ERC® Tax Counsel, Peter K. Scott
Peter Scott Associates
Current as of January, 2017
The following real estate listing “exclusion clause” has been adopted for utilization by the relocation industry to enable transferred homeowners to accept home purchase offers from their employers or RMC’s under home purchase programs without obligation for payment of real estate commission to their listing brokers.
This Listing Agreement is subject to the following provisions:
It is understood and agreed that regardless of whether or not an offer is presented by a ready, willing and able buyer:
- No commission or compensation shall be earned by, or be due and payable to broker until sale of the property has been consummated between seller and buyer, the deed delivered to the buyer and the purchase price delivered to the seller; and
- The seller reserves the right to sell the property to ________________________ _____________________________ [Name of Relocation Company or Employer] or ____________________________ [Name of any other party to be covered by this exclusion clause] (individually and collectively a "Named Prospective Purchaser") at any time. Upon the execution by a Named Prospective Purchaser and me (us) of an Agreement of Sale with respect to the property, this Listing Agreement shall immediately terminate without obligation on my (our) part or on the part of any Named Prospective Purchaser to either pay a commission or to continue this listing.
(Note: The exclusion clause should be inserted into the body of the listing agreement. Do not simply attach it on a separate sheet.)