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.
The Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legal document that outlines the terms and conditions under which a property owner in Arizona hires a real estate broker to assist in the sale of their property. This agreement serves as a binding contract between the property owner, referred to as the "Seller," and the real estate broker, referred to as the "Listing Broker." This agreement grants the Listing Broker the exclusive right to market and promote the Seller's property for sale. It allows the Listing Broker to solicit and work with other brokers, also known as co-brokers, to find potential buyers. The co-brokers may be affiliated with the Listing Broker's brokerage firm or from other firms. The Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers details various key aspects of the agreement. These include: 1. Property Information: The agreement includes a detailed description of the property being sold, including its address, legal description, and any additional information necessary for identification. 2. Exclusive Authorization: The Seller grants exclusive authorization to the Listing Broker to market and advertise the property for sale. This means that the Seller cannot work with any other broker or agency during the term of this agreement. 3. Listing Price and Terms: The agreement specifies the listing price at which the Seller wishes to sell the property and any specific terms or conditions related to the sale. These may include disclosures, contingencies, and financing requirements. 4. Listing Period: The agreement establishes the duration of the listing period during which the Listing Broker has the exclusive right to market the property. Typically, this period ranges from a few months to a year, with an option to extend if agreed upon by both parties. 5. Broker Compensation: The agreement outlines the compensation structure for the Listing Broker and any cooperating brokers involved in the sale. This usually includes a percentage of the final sale price or a fixed fee, agreed upon between the Seller and Listing Broker. 6. Co-Brokerage: This agreement allows the Listing Broker to engage other brokers to solicit potential buyers. All terms and conditions related to the cooperation between the Listing Broker and the co-brokers, such as commissions, responsibilities, and confidentiality, are defined in this section. 7. Termination: The agreement specifies the circumstances under which either party can terminate the agreement before its expiration date. This may include a breach of contract, failure to meet obligations, or mutual agreement between the Seller and Listing Broker. Different types of Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers may include variations in specific terms or conditions based on the preferences of the Seller and Listing Broker. These may include the length of the listing period, the amount or structure of compensation, any additional marketing or advertising strategies, and specific provisions or contingencies the parties wish to include. In conclusion, the Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a comprehensive legal document that establishes the relationship between a property owner and a real estate broker in Arizona. It outlines the exclusive rights of the Listing Broker to market and sell the property, while also allowing for the involvement of co-brokers to broaden the search for potential buyers.The Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legal document that outlines the terms and conditions under which a property owner in Arizona hires a real estate broker to assist in the sale of their property. This agreement serves as a binding contract between the property owner, referred to as the "Seller," and the real estate broker, referred to as the "Listing Broker." This agreement grants the Listing Broker the exclusive right to market and promote the Seller's property for sale. It allows the Listing Broker to solicit and work with other brokers, also known as co-brokers, to find potential buyers. The co-brokers may be affiliated with the Listing Broker's brokerage firm or from other firms. The Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers details various key aspects of the agreement. These include: 1. Property Information: The agreement includes a detailed description of the property being sold, including its address, legal description, and any additional information necessary for identification. 2. Exclusive Authorization: The Seller grants exclusive authorization to the Listing Broker to market and advertise the property for sale. This means that the Seller cannot work with any other broker or agency during the term of this agreement. 3. Listing Price and Terms: The agreement specifies the listing price at which the Seller wishes to sell the property and any specific terms or conditions related to the sale. These may include disclosures, contingencies, and financing requirements. 4. Listing Period: The agreement establishes the duration of the listing period during which the Listing Broker has the exclusive right to market the property. Typically, this period ranges from a few months to a year, with an option to extend if agreed upon by both parties. 5. Broker Compensation: The agreement outlines the compensation structure for the Listing Broker and any cooperating brokers involved in the sale. This usually includes a percentage of the final sale price or a fixed fee, agreed upon between the Seller and Listing Broker. 6. Co-Brokerage: This agreement allows the Listing Broker to engage other brokers to solicit potential buyers. All terms and conditions related to the cooperation between the Listing Broker and the co-brokers, such as commissions, responsibilities, and confidentiality, are defined in this section. 7. Termination: The agreement specifies the circumstances under which either party can terminate the agreement before its expiration date. This may include a breach of contract, failure to meet obligations, or mutual agreement between the Seller and Listing Broker. Different types of Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers may include variations in specific terms or conditions based on the preferences of the Seller and Listing Broker. These may include the length of the listing period, the amount or structure of compensation, any additional marketing or advertising strategies, and specific provisions or contingencies the parties wish to include. In conclusion, the Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a comprehensive legal document that establishes the relationship between a property owner and a real estate broker in Arizona. It outlines the exclusive rights of the Listing Broker to market and sell the property, while also allowing for the involvement of co-brokers to broaden the search for potential buyers.
