The Broker Exclusive Agreement serves as a fundamental document in U.S. real estate transactions, establishing clear terms for the professional relationship between property owners and brokers. This agreement is essential when property owners seek dedicated representation and want to ensure their broker has sufficient motivation to invest time and resources in marketing their property. The document typically specifies the broker's exclusive right to market and sell the property, commission structures, service scope, and protection periods. Subject to both federal and state real estate laws, this agreement provides legal protection for both parties while clarifying their respective rights and obligations.
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1. Parties: Identification of the broker and client with full legal names and addresses
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of broker's services and responsibilities
5. Exclusivity Terms: Duration and nature of exclusive relationship
6. Compensation: Commission structure and payment terms
7. Term and Termination: Duration of agreement and termination conditions
1. Protection Period: Post-termination period where broker maintains rights to commission for leads generated during the agreement
2. Marketing Commitments: Specific marketing activities the broker will undertake, including timelines and deliverables
3. Virtual Services: Provisions for online or virtual services including virtual tours and digital marketing
1. Property Details Schedule: Specific information about property(ies) covered by the agreement including location, type, and specifications
2. Commission Schedule: Detailed breakdown of commission structures and scenarios for different transaction types
3. Marketing Plan: Detailed marketing strategy and commitments including timelines and specific activities
4. Agency Disclosure Form: State-required agency relationship disclosure form as mandated by local regulations
Relevant legal definitions
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