A real estate broker offers services as agent in matters involving the sale, purchase, rental, and financing of real property. When selling property, brokers and agents arrange for title searches to verify ownership and for meetings between buyers and sellers during which they agree to the details of the transactions and in a final meeting, the new owners take possession of the property. They also may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale. In some cases, brokers and agents assume primary responsibility for closing sales; in others, lawyers or lenders do.
Agents and brokers spend a significant amount of time looking for properties to sell. They obtain listings -- agreements by owners to place properties for sale with the firm. When listing a property for sale, agents and brokers compare the listed property with similar properties that recently sold, in order to determine a competitive market price for the property. Following the sale of the property, both the agent who sold it and the agent who obtained the listing receive a portion of the commission. Thus agents who sell a property that they themselves have listed can increase their commission.
A North Carolina Real Estate Sales Representative Agreement with Broker is a legal contract that establishes the working relationship between a real estate sales representative (sometimes referred to as an agent) and a broker within the state of North Carolina. This agreement outlines the specific terms, conditions, and responsibilities of the sales representative as they represent the broker in the real estate market. In North Carolina, there are various types of Real Estate Sales Representative Agreements with Brokers, including: 1. Exclusive Right to Represent Agreement: This type of agreement grants the sales representative exclusive rights to represent the broker in the sale or purchase of real estate properties. It ensures that the sales representative receives compensation from the broker for their services, regardless of who brings the buyer or seller. 2. Non-Exclusive Right to Represent Agreement: In this agreement, the sales representative has the right to represent the broker, but it is not exclusive. The sales representative may also work with other brokers or engage in independent real estate activities. 3. Independent Contractor Agreement: This type of agreement establishes the sales representative as an independent contractor rather than an employee. It outlines the responsibilities, compensation terms, and tax obligations of the sales representative, who operates their own business while working under the broker's supervision. 4. Team Agreement: A-Team Agreement is a type of sales representative agreement commonly used when multiple sales representatives work under a broker's team or brand. It outlines the roles, responsibilities, and profit-sharing arrangements within the team. The North Carolina Real Estate Sales Representative Agreement with Broker typically includes key elements such as: 1. Identification of the parties involved: The agreement identifies the broker and the sales representative, ensuring clarity regarding whom the agreement pertains to. 2. Term and termination: It specifies the duration of the agreement and the conditions under which the agreement can be terminated. 3. Compensation: The agreement details the commission structure, payment terms, and any additional expenses that the broker will reimburse to the sales representative. 4. Obligations and duties: It outlines the responsibilities and obligations of the sales representative, including marketing, advertising, prospecting, showing properties, and negotiating contracts. 5. Confidentiality and non-disclosure: The agreement often includes provisions to safeguard confidential information and trade secrets of the broker's business. 6. Independent contractor status: If it is an independent contractor agreement, this section clarifies that the sales representative operates as an independent business entity. 7. Compliance with real estate laws and regulations: The agreement ensures that the sales representative adheres to all local, state, and federal laws governing the real estate industry. It is essential for both the sales representative and the broker to carefully review and understand the terms of the agreement before signing. Seeking legal advice or consulting the North Carolina Real Estate Commission can also help ensure compliance with the state's real estate laws and regulations.A North Carolina Real Estate Sales Representative Agreement with Broker is a legal contract that establishes the working relationship between a real estate sales representative (sometimes referred to as an agent) and a broker within the state of North Carolina. This agreement outlines the specific terms, conditions, and responsibilities of the sales representative as they represent the broker in the real estate market. In North Carolina, there are various types of Real Estate Sales Representative Agreements with Brokers, including: 1. Exclusive Right to Represent Agreement: This type of agreement grants the sales representative exclusive rights to represent the broker in the sale or purchase of real estate properties. It ensures that the sales representative receives compensation from the broker for their services, regardless of who brings the buyer or seller. 2. Non-Exclusive Right to Represent Agreement: In this agreement, the sales representative has the right to represent the broker, but it is not exclusive. The sales representative may also work with other brokers or engage in independent real estate activities. 3. Independent Contractor Agreement: This type of agreement establishes the sales representative as an independent contractor rather than an employee. It outlines the responsibilities, compensation terms, and tax obligations of the sales representative, who operates their own business while working under the broker's supervision. 4. Team Agreement: A-Team Agreement is a type of sales representative agreement commonly used when multiple sales representatives work under a broker's team or brand. It outlines the roles, responsibilities, and profit-sharing arrangements within the team. The North Carolina Real Estate Sales Representative Agreement with Broker typically includes key elements such as: 1. Identification of the parties involved: The agreement identifies the broker and the sales representative, ensuring clarity regarding whom the agreement pertains to. 2. Term and termination: It specifies the duration of the agreement and the conditions under which the agreement can be terminated. 3. Compensation: The agreement details the commission structure, payment terms, and any additional expenses that the broker will reimburse to the sales representative. 4. Obligations and duties: It outlines the responsibilities and obligations of the sales representative, including marketing, advertising, prospecting, showing properties, and negotiating contracts. 5. Confidentiality and non-disclosure: The agreement often includes provisions to safeguard confidential information and trade secrets of the broker's business. 6. Independent contractor status: If it is an independent contractor agreement, this section clarifies that the sales representative operates as an independent business entity. 7. Compliance with real estate laws and regulations: The agreement ensures that the sales representative adheres to all local, state, and federal laws governing the real estate industry. It is essential for both the sales representative and the broker to carefully review and understand the terms of the agreement before signing. Seeking legal advice or consulting the North Carolina Real Estate Commission can also help ensure compliance with the state's real estate laws and regulations.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
