BROKERAGE RELATIONSHIP DISCLOSUREIt is the policy of Coldwell Banker Schmitt Real Estate Co., (“The Company”) to provide the greatest possible degree of service to our clients and customers within the constraints of the law.
To that end, The Company has adopted Single Agency as the primary and preferred relationship with Buyers and Sellers. As a Single Agent Company, agents can provide the full spectrum of services to their client, including the fiduciary duties of loyalty, confidentiality and obedience. By providing these duties, our agents can represent our clients’ interests above all others. We believe that this type of relationship is what most clients expect and deserve.
The Single Agency relationship serves all parties well except when an agent of The Company represents the Seller and the Buyer in the same transaction. In this instance, the law requires agents to transition from being a Single Agent to a Transaction Broker, wherein we provide both parties with limited confidentiality, fair and honest dealing, skill, care and diligence, accounting and disclosure of all known facts that materially affect the value of the property. This limited form of representation allows the agent to facilitate the real estate transaction by assisting both the Buyer and the Seller, but the agent will not work to represent one party to the detriment of the other.
To facilitate this transition, we ask Sellers whom we represent as Single Agents, to allow us to provide this form of representation when negotiating an offer on one of the The Company’s listings.
SINGLE AGENT DISCLOSURE
The Company policy is to enter into a Single Agency Relationship with all Buyers looking at properties listed with other companies. Formalization of the Singe Agency Relationship forms the basis for an Exclusive Buyer Broker Agreement between the Buyer and The Company, which completes our contractual package with the buyer. To allow The Company Agents to transition to Transaction Brokers in the event of an “in house transaction” wherein The Company Agents assist both the Buyer and the Seller we ask that our clients also sign the Consent to Transition to Transaction Broker form. Agents transitioning from Single Agency must disclose to the Buyer and Seller that they are acting as a Transaction Broker at the time their role changes.
TRANSACTION BROKER DISCLOSURE FORM
For “in-house” Listings, agents of The Company who are acting in a Single Agent capacity will transition to Transaction Broker for representation. In that situation The Company will be acting as Transaction Brokers for both the Buyer and Seller.
CBSREC EXCLUSIVE BUYER BROKERAGE AGREEMENTTHIS AGREEMENT is made between ___________________________________________________________,
hereinafter called "CLIENT", and Coldwell Banker Schmitt Real Estate co., hereinafter called "BROKER".
WHEREAS, the CLIENT is desirous of employing the BROKER exclusively to locate real property for purchase; &
WHEREAS, the BROKER is desirous of providing the real estate brokerage service to the CLIENT,
NOW THEREFORE, In consideration of the mutual obligations contained herein, the sufficiency of which is
THE PARTIES AGREE TO THE FOLLOWING TERMS AND CONDITIONS:
1. THE BROKER hereby agrees to provide real estate brokerage service to locate and negotiate the purchase of
real estate in Monroe County, Florida, more particularly
described as: ________________________________________________________________
2. THE TERM OF THIS AGREEMENT shall commence on ________________________ and expire at
midnight on _________________________.
3. CLIENT shall pay to BROKER for services; a commission of ______% or the compensation % in the MLS
Payment shall be paid by o Seller, o Buyer, and shall be paid in cash upon closing of the purchase of
the real estate. Payment shall be due to BROKER regardless of whether the property is purchased
through the BROKER or any other entity or individual acting for BUYER during the term of this agreement.
In the event payment is not available from the SELLER, the o BUYER shall seek other properties, and/or
o BUYER shall pay the commission agreed to above.
4. AT THE INITIAL CONTACT with other brokers and/or Seller, BROKER shall fully disclose they represent the
5. BROKER shall use their best efforts to locate real property that meets the requirements of the CLIENT,
including assisting CLIENT in any related areas such as financing, inspections, termite reports, and to
coordinate with other professionals representing the BUYER such as attorney and/or accountants and
shall assist the CLIENT through the closing. (The Broker is NOT an EXPERT in areas outside of real
estate brokerage, but will assist the BUYER CLIENT to obtain competent professional help.)
6. CLIENT shall work exclusively with BROKER and no other party and agrees that if the Broker locates real
property that meets the requirements of the client that client will proceed to attempt to negotiate a
purchase of the property. Client grants to Broker the exclusive authority to locate and negotiate the
purchase of the real property covered under this agreement. If BUYER or any other person or entity acting
for BUYER, within 180 days after the expiration of this agreement, enters into an agreement to
purchase/lease on any property submitted by Broker to Buyer during the terms of this agreement, the
buyer shall pay to Broker the compensation as provided in paragraph 3 of this agreement.
7. THIS AGREEMENT constitutes the entire agreement between the parties and any amendments or
modifications shall not be valid unless reduced to writing and signed by the parties hereto. In case of
litigation, the prevailing party shall be entitled to recover reasonable attorney's fees.
COLDWELL BANKER SCHMITT REAL ESTATE, CO. SALES ASSOCIATE