# 6.11 The Listing/Management Commission Agreement

**State real estate laws require that a compensation agreement be in writing and signed by the party to be charged in order to be enforceable.** If you represent a buyer in a for-sale-by-owner (FSBO) transaction and the buyer is to pay a commission, you must have a written agreement with the buyer to pay that commission, such as a buyer-broker agreement.

**If the seller has not signed or will not sign a listing agreement and if the seller is to pay the commission, you must have a written agreement with the seller such as a single party compensation agreement.**

Unless approved in advance by your Manager, **all residential, commercial, property management and lease listings will be “Exclusive Authorization Right to Sell” listings**. All listing and management agreements will be taken on the most current STATE ASSOCIATION OF REALTORS<sup>®</sup> Standard Forms, AIR CRE forms (commercial only) or another form approved by the Broker such as custom drafted Letters of Intent (LOI).