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.
Phoenix, Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers: A Comprehensive Overview The Phoenix, Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding agreement that outlines the terms and conditions between a property owner (the "Seller") and a licensed real estate broker (the "Listing Broker"). This agreement grants the Listing Broker the exclusive right to market and sell the Seller's property, while also allowing the Listing Broker to enlist the support of co-brokers in the sales process. The agreement aims to protect the interests of both parties and facilitate a successful sale transaction. Key Terms and Conditions: 1. Exclusive Agency: The agreement establishes an exclusive agency relationship between the Seller and the Listing Broker. This means that the Seller agrees to work exclusively with the Listing Broker, prohibiting them from engaging other brokers or agencies to sell the property during the agreement's duration. 2. Soliciting Co-Brokers: The agreement allows the Listing Broker to seek assistance from other licensed real estate brokers, known as co-brokers, to help find potential buyers for the property. The Listing Broker may offer a portion of the commission earned from the sale to these co-brokers as an incentive. 3. Listing Period: The agreement specifies the duration of the exclusive listing period, typically ranging from 30 to 180 days. During this time, the Listing Broker has the authority to market and advertise the property using various channels, such as Multiple Listing Service (MLS), online platforms, and offline marketing methods. 4. Commission and Compensation: The agreement outlines the commission structure and compensation terms for the Listing Broker and co-brokers involved in the sale. The commission is generally a percentage of the final sale price and is payable upon the successful completion of the transaction. 5. Listing Price and Terms: The agreement requires the Seller to specify the desired listing price for the property, along with any specific terms and conditions they wish to include. This information is crucial for effectively marketing the property and attracting potential buyers. Types of Exclusive Sales Agency Listing Agreements: 1. Exclusive Right-to-Sell Listing Agreement: This is the most common type of exclusive listing agreement. It grants the Listing Broker the exclusive right to represent the Seller and earn the commission, regardless of who successfully procures the buyer. 2. Exclusive Agency Listing Agreement: Similar to the Exclusive Right-to-Sell agreement, the Exclusive Agency agreement grants exclusivity to the Listing Broker. However, it allows the Seller to find a buyer independently without owing a commission to the Listing Broker. 3. Multiple Listing Service (MLS) Exclusive Listing Agreement: This agreement authorizes the Listing Broker to market the property on the MLS, making it accessible to a wide network of real estate professionals and their clients. However, the Seller retains the right to sell the property themselves and avoid any commission payment to the Listing Broker if they find a buyer independently. The Phoenix, Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers serves as a crucial tool for property owners seeking to sell their real estate efficiently while leveraging the expertise and network of a licensed real estate broker. Understanding the different types of exclusive listing agreements can help ensure that the agreement aligns with the Seller's specific needs and goals.Phoenix, Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers: A Comprehensive Overview The Phoenix, Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers is a legally binding agreement that outlines the terms and conditions between a property owner (the "Seller") and a licensed real estate broker (the "Listing Broker"). This agreement grants the Listing Broker the exclusive right to market and sell the Seller's property, while also allowing the Listing Broker to enlist the support of co-brokers in the sales process. The agreement aims to protect the interests of both parties and facilitate a successful sale transaction. Key Terms and Conditions: 1. Exclusive Agency: The agreement establishes an exclusive agency relationship between the Seller and the Listing Broker. This means that the Seller agrees to work exclusively with the Listing Broker, prohibiting them from engaging other brokers or agencies to sell the property during the agreement's duration. 2. Soliciting Co-Brokers: The agreement allows the Listing Broker to seek assistance from other licensed real estate brokers, known as co-brokers, to help find potential buyers for the property. The Listing Broker may offer a portion of the commission earned from the sale to these co-brokers as an incentive. 3. Listing Period: The agreement specifies the duration of the exclusive listing period, typically ranging from 30 to 180 days. During this time, the Listing Broker has the authority to market and advertise the property using various channels, such as Multiple Listing Service (MLS), online platforms, and offline marketing methods. 4. Commission and Compensation: The agreement outlines the commission structure and compensation terms for the Listing Broker and co-brokers involved in the sale. The commission is generally a percentage of the final sale price and is payable upon the successful completion of the transaction. 5. Listing Price and Terms: The agreement requires the Seller to specify the desired listing price for the property, along with any specific terms and conditions they wish to include. This information is crucial for effectively marketing the property and attracting potential buyers. Types of Exclusive Sales Agency Listing Agreements: 1. Exclusive Right-to-Sell Listing Agreement: This is the most common type of exclusive listing agreement. It grants the Listing Broker the exclusive right to represent the Seller and earn the commission, regardless of who successfully procures the buyer. 2. Exclusive Agency Listing Agreement: Similar to the Exclusive Right-to-Sell agreement, the Exclusive Agency agreement grants exclusivity to the Listing Broker. However, it allows the Seller to find a buyer independently without owing a commission to the Listing Broker. 3. Multiple Listing Service (MLS) Exclusive Listing Agreement: This agreement authorizes the Listing Broker to market the property on the MLS, making it accessible to a wide network of real estate professionals and their clients. However, the Seller retains the right to sell the property themselves and avoid any commission payment to the Listing Broker if they find a buyer independently. The Phoenix, Arizona Exclusive Sales Agency Listing Agreement for Sale of Real Property with Brokers to Solicit Co-Brokers serves as a crucial tool for property owners seeking to sell their real estate efficiently while leveraging the expertise and network of a licensed real estate broker. Understanding the different types of exclusive listing agreements can help ensure that the agreement aligns with the Seller's specific needs and goals.
