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Keeping You In The Know™ – Updated Brokerage Compensation Agreement

Updated Brokerage Compensation Agreement

The realMLS Brokerage Compensation Agreement has been changed to include the following statement as seen in red below:

SELLER grants BROKER the exclusive right to sell (enter into a purchase and sale agreement)

SELLER’s property located at ___________________________________________________     

(“the Property”) to ___________________________________________________(“BUYER”) at   a price and upon terms acceptable to SELLER; however,

nothing in this Agreement prevents SELLER from selling the Property to anyone other than the BROKER’S BUYER, in which event the BROKER would not be entitled to compensation under this Agreement.  

This was added to clarify any confusion Seller’s may have about how this agreement works.  They will better understand that if they sell to your Buyer then the Brokerage Compensation Agreement is binding.  However, they are still free to sell to any other potential buyer outside of this agreement.

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