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 Miami-Dade Florida Real Estate Sales Representative Agreement with Broker is a legally binding contract entered into by a real estate sales representative and a licensed real estate broker in Miami-Dade County, Florida. This agreement governs the relationship between the sales representative and the broker, outlining their rights, responsibilities, and compensation terms while conducting real estate transactions. The agreement typically begins with a detailed preamble, stating the names and contact information of the parties involved, as well as their respective roles and intentions. It also enumerates the effective date of the agreement and defines any relevant terms used throughout the document. One key aspect of the Miami-Dade Florida Real Estate Sales Representative Agreement with Broker is the scope of representation. This section clarifies the sales representative's authorization to act on behalf of the broker, including the marketing and sale of listed properties, negotiation with buyers, and other related duties. It is crucial to outline the geographically designated area (e.g., within Miami-Dade County) where the sales representative is authorized to operate. Compensation terms form an integral part of the agreement. This section defines how the sales representative will be compensated for their services and specifies the commission structure, which is often a percentage of the sales price or a predetermined amount. This might also entail the allocation of expenses and the procedure for disbursing commissions. The Miami-Dade Florida Real Estate Sales Representative Agreement with Broker should also provide details regarding accounting and records. Both parties must agree upon the frequency and manner in which sales, listings, and other transactions are documented and reported. This ensures transparency and allows for proper monitoring of sales activities. Another essential component of the agreement is the termination clause. It outlines the conditions under which either party can terminate the agreement, taking into account factors such as breach of contract, unresolved disputes, or voluntary termination with sufficient notice. This section also addresses any post-termination responsibilities, such as returning confidential information or clients' records. While there may be variations depending on individual agreements, some additional types of Miami-Dade Florida Real Estate Sales Representative Agreements with Brokers include: 1. Exclusive Agency Agreement: This agreement grants the sales representative exclusive rights to represent the broker within a specified area, while allowing the broker to market the property on their own as well. 2. Open Listing Agreement: In this type of agreement, the sales representative has the authority to market the property, but the broker is not exclusively tied to them. The property owner may also engage multiple sales representatives simultaneously. 3. Employment Agreement: This agreement establishes an employer-employee relationship between the broker and sales representative, outlining terms, conditions, and obligations as if the sales representative were a regular employee. In conclusion, a Miami-Dade Florida Real Estate Sales Representative Agreement with Broker is a vital contract that establishes the relationship, responsibilities, and compensation terms between a real estate sales representative and a licensed broker operating in Miami-Dade County.A Miami-Dade Florida Real Estate Sales Representative Agreement with Broker is a legally binding contract entered into by a real estate sales representative and a licensed real estate broker in Miami-Dade County, Florida. This agreement governs the relationship between the sales representative and the broker, outlining their rights, responsibilities, and compensation terms while conducting real estate transactions. The agreement typically begins with a detailed preamble, stating the names and contact information of the parties involved, as well as their respective roles and intentions. It also enumerates the effective date of the agreement and defines any relevant terms used throughout the document. One key aspect of the Miami-Dade Florida Real Estate Sales Representative Agreement with Broker is the scope of representation. This section clarifies the sales representative's authorization to act on behalf of the broker, including the marketing and sale of listed properties, negotiation with buyers, and other related duties. It is crucial to outline the geographically designated area (e.g., within Miami-Dade County) where the sales representative is authorized to operate. Compensation terms form an integral part of the agreement. This section defines how the sales representative will be compensated for their services and specifies the commission structure, which is often a percentage of the sales price or a predetermined amount. This might also entail the allocation of expenses and the procedure for disbursing commissions. The Miami-Dade Florida Real Estate Sales Representative Agreement with Broker should also provide details regarding accounting and records. Both parties must agree upon the frequency and manner in which sales, listings, and other transactions are documented and reported. This ensures transparency and allows for proper monitoring of sales activities. Another essential component of the agreement is the termination clause. It outlines the conditions under which either party can terminate the agreement, taking into account factors such as breach of contract, unresolved disputes, or voluntary termination with sufficient notice. This section also addresses any post-termination responsibilities, such as returning confidential information or clients' records. While there may be variations depending on individual agreements, some additional types of Miami-Dade Florida Real Estate Sales Representative Agreements with Brokers include: 1. Exclusive Agency Agreement: This agreement grants the sales representative exclusive rights to represent the broker within a specified area, while allowing the broker to market the property on their own as well. 2. Open Listing Agreement: In this type of agreement, the sales representative has the authority to market the property, but the broker is not exclusively tied to them. The property owner may also engage multiple sales representatives simultaneously. 3. Employment Agreement: This agreement establishes an employer-employee relationship between the broker and sales representative, outlining terms, conditions, and obligations as if the sales representative were a regular employee. In conclusion, a Miami-Dade Florida Real Estate Sales Representative Agreement with Broker is a vital contract that establishes the relationship, responsibilities, and compensation terms between a real estate sales representative and a licensed broker operating in Miami-Dade County.
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.
