A broker is an agent who bargains or conducts negotiations for and on behalf of a person he or she represents, called a principal. The broker acts as an intermediary between the principal and third persons in the acquisition of contractual rights or the sale or purchase of property, and receives a commission or brokerage fee for his or her services. A broker has a duty to act in the principal's interest and not gain personal advantage at the principal's expense. The broker must avoid conflicts of interest that may arise in performing duties for or advising third parties whose interests are not aligned with those of the principal. A real estate broker offers services as agent in matters involving the sale, purchase, rental, and financing of real property.
The terms of the brokerage agreement determine the character of the services to be rendered as well as the broker's right to compensation in particular circumstances.
Queens New York Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract that outlines the terms and conditions between a property owner (the seller) and a real estate agency (the broker) for the purpose of marketing, advertising, and selling a property located in Queens, New York. This exclusive agreement grants the broker exclusive rights to solicit co-brokers to help facilitate the sale of the property. There are different types of Exclusive Sales Agency Listing Agreements, including: 1. Exclusive Right-to-Sell Listing Agreement: This type of agreement grants the broker exclusive rights to represent the seller and earn a commission regardless of who brings the buyer. The broker is solely responsible for advertising, marketing, and negotiating the sale of the property. 2. Exclusive Agency Listing Agreement: In this type of agreement, the seller retains the right to sell the property independently without owing a commission to the broker. However, if the broker brings a buyer who successfully purchases the property, they are entitled to a commission. 3. Open Listing Agreement: This agreement allows the seller to work with multiple brokers simultaneously, with the commission going to the broker who successfully finds a buyer. The seller also reserves the right to sell the property independently without owing a commission to any broker. 4. Net Listing Agreement: This type of agreement sets a specific net sales price desired by the seller. Any amount above the net sales price becomes the broker's commission. However, net listings are illegal in some states due to potential conflicts of interest. Regardless of the specific type of Exclusive Sales Agency Listing Agreement, it typically includes key details such as the property's address, description, listing price, duration of the agreement, commission rate, marketing strategies to be implemented, and the roles and responsibilities of both the seller and the broker. The purpose of this agreement is to establish a clear understanding between the seller and the broker, ensuring that there are no misunderstandings regarding the terms of the listing and the obligations of the involved parties. By granting exclusive rights to solicit co-brokers, the seller increases the property's exposure to a wider network of potential buyers, thereby maximizing the chances of a successful sale.Queens New York Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract that outlines the terms and conditions between a property owner (the seller) and a real estate agency (the broker) for the purpose of marketing, advertising, and selling a property located in Queens, New York. This exclusive agreement grants the broker exclusive rights to solicit co-brokers to help facilitate the sale of the property. There are different types of Exclusive Sales Agency Listing Agreements, including: 1. Exclusive Right-to-Sell Listing Agreement: This type of agreement grants the broker exclusive rights to represent the seller and earn a commission regardless of who brings the buyer. The broker is solely responsible for advertising, marketing, and negotiating the sale of the property. 2. Exclusive Agency Listing Agreement: In this type of agreement, the seller retains the right to sell the property independently without owing a commission to the broker. However, if the broker brings a buyer who successfully purchases the property, they are entitled to a commission. 3. Open Listing Agreement: This agreement allows the seller to work with multiple brokers simultaneously, with the commission going to the broker who successfully finds a buyer. The seller also reserves the right to sell the property independently without owing a commission to any broker. 4. Net Listing Agreement: This type of agreement sets a specific net sales price desired by the seller. Any amount above the net sales price becomes the broker's commission. However, net listings are illegal in some states due to potential conflicts of interest. Regardless of the specific type of Exclusive Sales Agency Listing Agreement, it typically includes key details such as the property's address, description, listing price, duration of the agreement, commission rate, marketing strategies to be implemented, and the roles and responsibilities of both the seller and the broker. The purpose of this agreement is to establish a clear understanding between the seller and the broker, ensuring that there are no misunderstandings regarding the terms of the listing and the obligations of the involved parties. By granting exclusive rights to solicit co-brokers, the seller increases the property's exposure to a wider network of potential buyers, thereby maximizing the chances of a successful sale.
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.
