This office lease form is an exclusive brokerage agreement whereas the client wishes to obtain an office premises, an office building, or an interest in an office building with particulars and amenities as advised to the broker by the client in an orderly, prompt and prudent manner through a search effort that will meet the client's requirements in the current marketplace. This agreement lists the terms of the agreement, the requirements and rights of both parties, and services to be rendered.
A Michigan Brokerage Agreement for Services to Tenant is a legally binding contract between a tenant and a brokerage firm or real estate agent. It outlines the terms and conditions of the agreement regarding representation and services provided by the broker to the tenant. This document is crucial in establishing a professional relationship and ensuring that both parties understand their rights and obligations. In Michigan, there are different types of Brokerage Agreements for Services to Tenant to cater to various situations and needs. Some common types include: 1. Exclusive Tenant Representation Agreement: This agreement grants exclusive rights to a specific brokerage firm or agent to represent the tenant in finding suitable rental properties. It prohibits the tenant from seeking assistance or services from other brokers during the term of the agreement. 2. Non-Exclusive Tenant Representation Agreement: This type of agreement allows the tenant to work with multiple brokers simultaneously. The tenant is not bound to work exclusively with any particular brokerage firm or agent. This flexibility enables the tenant to explore a wider range of options. 3. Single Agency Agreement: In this agreement, the broker exclusively represents the tenant's interests and owes fiduciary duties solely to the tenant. The broker must act in the tenant's best interest, maintain confidentiality, and disclose any pertinent information about potential rental properties. 4. Dual Agency Agreement: Sometimes, a broker may represent both the landlord and the tenant in the same transaction. In such cases, a Dual Agency Agreement is utilized. This agreement outlines the broker's role as a neutral intermediary, ensuring fair and unbiased representation to both parties involved. Regardless of the specific type, a Michigan Brokerage Agreement for Services to Tenant typically covers the following key points: i. Duration: The start and end dates of the agreement, specifying the period during which the broker will provide services. ii. Commission: The agreed-upon compensation or commission structure that the tenant will pay the broker upon the successful completion of the lease or rental agreement. iii. Services Provided: This section outlines the scope of services the broker will offer, such as property search, scheduling property visits, negotiating lease terms, and assisting with paperwork. iv. Tenant Obligations: The responsibilities and obligations of the tenant, including providing accurate information, acting in good faith, and promptly notifying the broker of any changes in requirements. v. Termination: The conditions under which either party can terminate the agreement before the expiration date, along with any associated penalties or notice periods. It is important for both the tenant and the broker to carefully review and understand the terms and conditions outlined in the Michigan Brokerage Agreement for Services to Tenant before signing. Consulting with legal professionals or real estate experts can provide valuable guidance to ensure a fair and mutually beneficial agreement.
