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 North Dakota 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 of a real estate transaction in North Dakota. This agreement is used when a property owner wants to sell their property and appoints an exclusive sales agency to represent them in the sale. In this agreement, the property owner grants the exclusive right to sell the property to the chosen sales agency. The document specifies the duration of the agreement, listing price, commission rate, and other important details related to the sale. It also outlines the responsibilities of the sales agency, including marketing the property, finding potential buyers, and negotiating offers. One significant aspect of this agreement is the provision that allows the sales agency to solicit co-brokers. This means that the agency is authorized to involve other real estate brokers or agents in the sales process. These co-brokers may assist in marketing the property and bringing potential buyers. It is essential to clearly define the commission split between the primary sales agency and the co-broker in the agreement. Different types or variations of the North Dakota Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers may exist depending on the preferences and specific requirements of the parties involved. However, the core elements mentioned above generally remain consistent. Keywords: North Dakota, exclusive sales agency, listing agreement, sale of real property, brokers, solicit co-brokers, property owner, commission rate, marketing, negotiation, co-brokers, commission split.The North Dakota 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 of a real estate transaction in North Dakota. This agreement is used when a property owner wants to sell their property and appoints an exclusive sales agency to represent them in the sale. In this agreement, the property owner grants the exclusive right to sell the property to the chosen sales agency. The document specifies the duration of the agreement, listing price, commission rate, and other important details related to the sale. It also outlines the responsibilities of the sales agency, including marketing the property, finding potential buyers, and negotiating offers. One significant aspect of this agreement is the provision that allows the sales agency to solicit co-brokers. This means that the agency is authorized to involve other real estate brokers or agents in the sales process. These co-brokers may assist in marketing the property and bringing potential buyers. It is essential to clearly define the commission split between the primary sales agency and the co-broker in the agreement. Different types or variations of the North Dakota Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers may exist depending on the preferences and specific requirements of the parties involved. However, the core elements mentioned above generally remain consistent. Keywords: North Dakota, exclusive sales agency, listing agreement, sale of real property, brokers, solicit co-brokers, property owner, commission rate, marketing, negotiation, co-brokers, commission split.
