This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
District of Columbia Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
Prior to providing specific real estate assistance, District of Columbia law requires that a licensee disclose to any party who the licensee does NOT represent the identity of the party to the proposed transaction which the licensee does represent.
It was created to inform and educate the public regarding the types of authorities (brokerage relationships) that can be granted to a broker and the duties brokers has with each relationship. NOTE: payment of commission or the promise of payment, is NOT what determines if a broker relationship exists.
Brokerage Relationship A relationship created by a written brokerage agreement. between a client and a broker where the client. authorizes the broker to provide real estate brokerage. services in a residential real estate transaction.
(1) A licensee may act as a dual representative only with the written consent of all clients to the transaction. Such written consent and disclosure of the brokerage relationship as required by this section shall be presumed to have been given as against any client who signs a disclosure as provided in this section.
The District of Columbia Real Estate Commission regulates the licenses of professional real estate agents and protects consumers by upholding the District of Columbia real estate license law. The Commission consists of nine members appointed by the Mayor.
A Real Estate Agency Relationships Disclosure (Agency Agreement) is a written agreement that formally defines the type of relationship or representation a licensed Broker/Agent agrees to provide to their client, while performing duties relating to real estate transactions.
(4) No brokerage relationship.-- --Duties of a licensee who has no brokerage relationship with a buyer or seller must be fully described and disclosed in writing to the buyer or seller. The disclosure must be made before the showing of property.
Standard of Practice 1-16 prohibits REALTORS® from accessing or using, or permit or enable others to access or use, listed or managed property on terms or conditions other than those authorized by the owner.
