The Non-Exclusive Broker Agreement serves as a flexible arrangement in the U.S. real estate market, providing property owners with the freedom to engage multiple brokers while maintaining clear terms of engagement. This document is particularly useful when sellers wish to maximize market exposure through multiple channels or when testing different brokers' capabilities. The agreement typically includes commission structures, service scope, marketing commitments, and termination conditions, while complying with federal regulations such as RESPA and state-specific real estate laws.
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1. Parties: Identification of broker and property owner/client
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement including broker services, property, commission, and other relevant terminology
4. Scope of Services: Detailed description of broker's services and responsibilities including marketing, showing property, negotiations
5. Term and Termination: Duration of agreement and conditions for termination by either party
6. Compensation: Commission structure, payment terms, and conditions for commission earning
7. Representations and Warranties: Statements of fact and promises made by both parties regarding authority, compliance with laws
8. Governing Law: Specification of applicable state law and jurisdiction
1. Marketing Plan: Detailed marketing strategies and commitments for property promotion
2. Property Management Services: Additional property management responsibilities if broker will provide such services
3. International Marketing: Specific provisions for marketing property to international buyers
4. Dispute Resolution: Optional mediation or arbitration procedures for resolving disputes
1. Schedule A - Property Details: Detailed description of property(ies) covered by the agreement including address and specifications
2. Schedule B - Commission Structure: Detailed breakdown of commission calculations and payment terms
3. Schedule C - Marketing Materials: Approved marketing materials and guidelines for property promotion
4. Appendix A - Required Disclosures: State-mandated disclosures and forms required by law
Relevant legal definitions
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