COMMISSION AGREEMENT (FORM 201) for property not listed
Non-agency relationships FSBO -- FOR SALE BY OWNER
The commission agreement establishes a contract between the brokerage and the seller for customer services only.
- Details the commission amount and terms under which it is payable.
- Provides acknowledgement that the broker is not the agent of the seller.
- Assigns the deposit toward the commission payment.
- Provides the broker with authority to obtain additional information about the property.
BUYER CUSTOMER SERVICE AGREEMENT (FORM 310) for use when the buyer is not represented by the broker
- Buyer acknowledges having received written information concerning agency relationships.
- Customer service duties are broadly outlined in the agreement.
- The buyer confirms that he/she is not party to an existing buyer agency agreement for the general type of property described.
- No compensation is to be paid for the customer services provided by the broker.
- The agreement is non-exclusive and expired in 60 days
- The buyer consents to the collection, use, and disclosure of personal information for such purpose that relate to the real estate services provided.
AT NO TIME DOES THE SALESPERSON UNDERTAKE ANY ACTIVITIES OR NEGOTIATE ON THE BUYER'S BEHALF THAT IS CONTRARY TO HIS CLIENT'S WISHES.
- A buyer representation agreement establishes a working relationship between buyer and brokerage/salesperson for property searches and selection, drafting agreements, negotiations, and the ultimate property purchase.
- Carefully review all pre printed clauses in the Buyer Representation Agreement (form 300)
- Buyer representation agreements can be terminated using the Buyer Representation Termination Agreement (form 301) and assigned by means of the Assignment of Buyer Representation Agreement (form 302 —transferring)
- Termination and assignment forms used with buyer representation agreements closely parallel their listing
- While agency duties and client relationships dominate today's marketplace, customer services may be appropriate in selected circumstances.
- The Seller Customer Service Agreement —form 201 — Commission Agreement for Property not listed establishes non-agency relationship with a seller, while retaining the right to collect commission from the
- The Buyer Customer Service Agreement (form 310) establishes a non-agency relationship with the buyer.