The Co-Broker Listing Agreement is essential when multiple real estate brokers collaborate to maximize exposure and selling potential of a property. This document is commonly used in the United States real estate market when brokers from different firms want to formally establish their working relationship, define commission structures, and outline their respective responsibilities. The agreement helps prevent disputes by clearly defining each party's role, compensation, and obligations while ensuring compliance with state-specific real estate regulations and federal laws such as RESPA.
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1. Parties: Identification of the cooperating brokers and their legal status
2. Background: Context of the co-broking arrangement and property details
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of services each broker will provide
5. Commission Structure: Terms of commission splitting and payment conditions
6. Term and Termination: Duration of agreement and termination provisions
7. Responsibilities and Obligations: Specific duties of each broker
1. Marketing Arrangements: Specific marketing responsibilities and cost sharing between brokers
2. Exclusive Territory: Geographic or client-based exclusivity provisions between brokers
3. Dispute Resolution: Mediation and arbitration procedures for resolving conflicts
1. Property Schedule: Detailed list of properties covered under the agreement
2. Commission Schedule: Detailed breakdown of commission splits for different scenarios
3. Marketing Materials: Approved marketing templates and guidelines
4. Service Level Agreement: Specific performance metrics and standards for both brokers
Relevant legal definitions
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