This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Maine Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
402, Pt. BB, §2 (NEW).] 2. Real estate brokerage. "Real estate brokerage" means a single instance of offering, attempting to conduct or conducting services on behalf of another for compensation, or with the expectation of receiving compensation, calculated to result in the transfer of an interest in real estate.
All exclusive brokerage agreements must be in writing, ing to the Real Estate License Act of 2000. In addition, under the Act, all exclusive brokerage agreements must provide for minimum services.
Written brokerage agreements must include a statement disclosing the real estate brokerage agency's policy on cooperating with and compensating other real estate brokerage agencies in the sale or purchase of real estate.
Let's say one agent introduced the buyer to a property, and the buyer eventually purchased and finalized the sale with a second agent. If the agent claims they were the procuring cause of the sale, this could lead to a procuring cause dispute.
402, Pt. BB, §2 (NEW).] 2. Real estate brokerage. "Real estate brokerage" means a single instance of offering, attempting to conduct or conducting services on behalf of another for compensation, or with the expectation of receiving compensation, calculated to result in the transfer of an interest in real estate.
Listing agreements are employment contracts between the sellers of real estate and real estate brokers for the professional services of the broker. The listing agreement creates an agency and fiduciary relationship between the seller and the broker, with the seller as the principal and the broker as his agent.
What clause allows a broker to collect a commission even after the listing period has expired? A A protection or safety clause provides that a broker may be entitled to a commission if the property sells during a certain period following the termination of the listing agreement.
Associate Broker means a person licensed by the Department of Professional and Financial Regulation to offer, attempt to conduct or to conduct services on behalf of another for compensation which includes, but is not limited to, listing real estate for sale; promoting the purchase, sale or exchange of real estate; ...
