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 District of Columbia Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legal document that establishes an exclusive relationship between a property owner and a real estate broker. This agreement allows the broker to market and sell the property on behalf of the owner, with the added benefit of being able to solicit co-brokers to assist in the sales process. Keywords: District of Columbia, Exclusive Sales Agency Listing Agreement, Sale of Real Property, Brokers, Solicit Co-Brokers. There are different types of District of Columbia Exclusive Sales Agency Listing Agreements for Sale of Real Property with Brokers to Solicit Co-Brokers that can be used depending on the specific requirements and circumstances. Here are some commonly known variations: 1. Residential Exclusive Sales Agency Listing Agreement: This type of agreement applies to residential properties such as houses, condos, or apartments that are being put up for sale. It outlines the terms and conditions under which the broker will exclusively represent the owner in marketing and selling the property while also seeking co-brokers to assist. 2. Commercial Exclusive Sales Agency Listing Agreement: This agreement is specifically targeted towards commercial properties like office buildings, retail spaces, or industrial complexes that are available for sale. It details the exclusivity of the broker's representation and the broker's rights to involve co-brokers to reach a wider audience of potential buyers. 3. Land Exclusive Sales Agency Listing Agreement: Land parcels, whether for development, agriculture, or other purposes, require their own unique listing agreement. This agreement delineates the exclusive representation of the broker to market and sell the land, along with the ability to engage co-brokers if needed. Regardless of the specific type of Exclusive Sales Agency Listing Agreement used, certain common components are generally included. Key elements typically found in these agreements may encompass property details, listing price, duration of the agreement, broker's commission, broker's obligations, owner's obligations, and provisions regarding co-brokerage. In conclusion, the District of Columbia Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a vital legal document that establishes an exclusive relationship between a property owner and a broker, allowing the broker to actively market and solicit co-brokers for assistance in selling the property. The agreement type may vary depending on the property's nature, such as residential, commercial, or land, but the underlying purpose remains the same.
