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.
Connecticut Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract that establishes an exclusive relationship between a property owner (seller) and a real estate agency (broker) to market and sell the property. This agreement allows the broker to solicit other cooperating brokers to assist in the sale. Under this agreement, the seller grants the broker the exclusive right to market and sell the property for a specified period, usually ranging from a few months to a year. The agreement outlines the responsibilities and obligations of both the seller and the broker. Keywords: Connecticut, Exclusive Sales Agency Listing Agreement, Sale of Real Property, Brokers, Solicit Co-Brokers Several variations of the Connecticut Exclusive Sales Agency Listing Agreement include: 1. Open Listing Agreement: An open listing agreement allows the seller to engage multiple brokers simultaneously to sell the property. In this case, the broker who brings the buyer is the only one eligible for the commission. 2. Exclusive Right to Sell Agreement: The exclusive right to sell agreement gives the chosen broker the exclusive right to represent the seller in marketing and selling the property. Regardless of who procures the buyer, the broker is entitled to the commission. 3. Exclusive Agency Agreement (without the option to solicit co-brokers): This agreement is similar to an exclusive right to sell agreement, except the broker is not authorized to solicit the assistance of other brokers. The commission is only paid to the broker who directly brings the buyer. It is crucial for all parties involved to carefully review and understand the terms and conditions of the Connecticut Exclusive Sales Agency Listing Agreement before signing. Consulting with a real estate attorney may be wise to ensure compliance with state laws and to protect all parties' interests during the property sale process.Connecticut Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract that establishes an exclusive relationship between a property owner (seller) and a real estate agency (broker) to market and sell the property. This agreement allows the broker to solicit other cooperating brokers to assist in the sale. Under this agreement, the seller grants the broker the exclusive right to market and sell the property for a specified period, usually ranging from a few months to a year. The agreement outlines the responsibilities and obligations of both the seller and the broker. Keywords: Connecticut, Exclusive Sales Agency Listing Agreement, Sale of Real Property, Brokers, Solicit Co-Brokers Several variations of the Connecticut Exclusive Sales Agency Listing Agreement include: 1. Open Listing Agreement: An open listing agreement allows the seller to engage multiple brokers simultaneously to sell the property. In this case, the broker who brings the buyer is the only one eligible for the commission. 2. Exclusive Right to Sell Agreement: The exclusive right to sell agreement gives the chosen broker the exclusive right to represent the seller in marketing and selling the property. Regardless of who procures the buyer, the broker is entitled to the commission. 3. Exclusive Agency Agreement (without the option to solicit co-brokers): This agreement is similar to an exclusive right to sell agreement, except the broker is not authorized to solicit the assistance of other brokers. The commission is only paid to the broker who directly brings the buyer. It is crucial for all parties involved to carefully review and understand the terms and conditions of the Connecticut Exclusive Sales Agency Listing Agreement before signing. Consulting with a real estate attorney may be wise to ensure compliance with state laws and to protect all parties' interests during the property sale process.
