Independent Real Estate Broker Agreement
An Independent Real Estate Broker Agreement is a contractual arrangement between a property owner and an independent broker who is not affiliated with a particular real estate agency. This agreement allows the broker to represent the owner in the sale or lease of real estate properties while maintaining their independent business status.
The agreement typically outlines the roles and responsibilities of both parties, including the scope of services provided by the broker, which may encompass marketing the property, negotiating deals, and facilitating transactions. It also specifies the commission structure, detailing how and when the broker will be compensated for their services.
For example, the agreement might state that the broker will receive a percentage of the sale price once the property is sold or leased, or it may include a flat fee arrangement. Additionally, the terms often cover the duration of the agreement, conditions for termination, and any obligations related to property disclosures.
Overall, the Independent Real Estate Broker Agreement serves to clarify the working relationship between the property owner and the broker, ensuring that both parties understand their rights and obligations throughout the real estate transaction process.
« Back to Glossary Index