What is a brokerage agreement?
A brokerage agreement is a type of contract wherein one party agrees to act as a sales agent of another, who is called the principal.
How binding is a buyer broker agreement?
Are buyer-broker agreements enforceable? The agreement is a legal contract. If either party fails to abide by the terms, the other party has the right to seek legal enforcement of the contract.
Do brokers make money from agents?
Brokers earn money two ways: A percentage of the commission earned by the agents they sponsor. One hundred percent of the commission from their own deals.
What is an owner agent agreement?
With the written consent of the Builder, which shall not be unreasonably withheld, the Owner may appoint an Owner's Agent to act on the Owner's behalf in the administration of this or any part of this Contract, but must authorise the Owner's Agent to so act in writing.