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 Ohio Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract that outlines the terms and conditions between a property owner and a real estate broker. This agreement grants the broker the exclusive right to represent the owner in the sale of their real property, while also allowing the broker to seek assistance from other real estate brokers, known as co-brokers. This type of listing agreement is designed to provide the property owner with the benefits of both exclusive representation and the opportunity to leverage the networks and expertise of multiple brokers. By granting the broker the exclusive right to market and sell the property, the owner can rely on their expertise to negotiate the best possible deal. At the same time, the agreement allows the broker to engage co-brokers to expand the reach and increase the chances of a successful sale. The Ohio Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers typically includes several key components. These may include: 1. Parties Involved: The agreement identifies the property owner, referred to as the "Seller," and the broker who will represent them, known as the "Listing Broker." It also provides space to name any co-brokers who may be enlisted in the sale. 2. Exclusive Agency: The agreement includes a clause stipulating that the seller grants the exclusive right to the listing broker for a specified period. This means that during the agreement's term, the seller cannot engage other brokers or sell the property independently without owing a commission to the listing broker. 3. Co-Brokerage: The agreement outlines the broker's authority to engage co-brokers to assist in marketing and selling the property. It specifies the compensation arrangements between the listing broker and the co-brokers involved, such as a percentage of the commission or a flat fee. 4. Compensation: This section of the agreement details the commission structure, including the percentage of the sale price that will be paid to the listing broker and any co-brokers involved upon a successful sale. It also outlines any additional expenses that the seller may be responsible for, such as marketing costs. It is worth noting that different variations of the Ohio Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers may exist. This can include agreements that differ in duration, commission rates, or specific terms and conditions. It is crucial for both the property owner and broker to carefully review and negotiate the agreement before signing to ensure that it meets their unique requirements and expectations.The Ohio Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding contract that outlines the terms and conditions between a property owner and a real estate broker. This agreement grants the broker the exclusive right to represent the owner in the sale of their real property, while also allowing the broker to seek assistance from other real estate brokers, known as co-brokers. This type of listing agreement is designed to provide the property owner with the benefits of both exclusive representation and the opportunity to leverage the networks and expertise of multiple brokers. By granting the broker the exclusive right to market and sell the property, the owner can rely on their expertise to negotiate the best possible deal. At the same time, the agreement allows the broker to engage co-brokers to expand the reach and increase the chances of a successful sale. The Ohio Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers typically includes several key components. These may include: 1. Parties Involved: The agreement identifies the property owner, referred to as the "Seller," and the broker who will represent them, known as the "Listing Broker." It also provides space to name any co-brokers who may be enlisted in the sale. 2. Exclusive Agency: The agreement includes a clause stipulating that the seller grants the exclusive right to the listing broker for a specified period. This means that during the agreement's term, the seller cannot engage other brokers or sell the property independently without owing a commission to the listing broker. 3. Co-Brokerage: The agreement outlines the broker's authority to engage co-brokers to assist in marketing and selling the property. It specifies the compensation arrangements between the listing broker and the co-brokers involved, such as a percentage of the commission or a flat fee. 4. Compensation: This section of the agreement details the commission structure, including the percentage of the sale price that will be paid to the listing broker and any co-brokers involved upon a successful sale. It also outlines any additional expenses that the seller may be responsible for, such as marketing costs. It is worth noting that different variations of the Ohio Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers may exist. This can include agreements that differ in duration, commission rates, or specific terms and conditions. It is crucial for both the property owner and broker to carefully review and negotiate the agreement before signing to ensure that it meets their unique requirements and expectations.
