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KES client Rep agree

Clients representation Agreements

TermDefinition
Buyer representation agreements
Comparative market analysis (CMA) not formal. Looks at similar properties in size, location, amenities.
Exclusive agency listing Seller retains right to sell on their own.
Exclusive buyer rep agreement
Exclusive right to sell listing Agent gets commission no matter who Brings in the buyer or sells the property.
Net listing Principle sets net dollar amount and broker keeps the remainder
Open listing Gets commission only if the broker brings in the buyer. (Aka non exclusive listing)
Listing agreement A contract for professional services of broker and seller. (Listing agreement)
Who is responsible for transactions The broker
Listings of cooperating brokers MLS written consent must be given prior. The advantages are exposure, increased inventory.
MLS participating listing brokers make offers that are considered Unilateral
Advantages of MLS Detailed information (taxes, assessments, local services, properties pending, sold, expired)
Valid reasons Brokers agreement to seller may be terminated Purpose fulfilled, expiration of agreement, property destruction, zoning change, condemnation, bankruptcy/foreclosure, mutual agreement to cancel, breach by either broker or principle, death of broker of principle.
PITI Principle, interest, taxes, insurance
Created by: KimSchroeder
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