Agreement between Builder and Broker
CONSIDERING that the co-broker holds a valid and current real estate agent license for Florida and wishes to participate with the broker in the sale of land and homes under development in accordance with the terms and conditions contained herein. B. Control of co-brokers. Listing Broker has no control or oversight over the employees, contractors, officers, directors, agents or employees of the co-brokers. Co-Broker does not represent that Co-Broker or any of its employees is an employee, partner or affiliate of Listing Broker and represents Co-Broker at all times as an independent contractor of Listing Broker. In no event shall Co-Broker be considered an employee or affiliate of Listing Broker for any purpose, including federal tax purposes. This Agreement shall not be construed as a joint venture or partnership between the Listing Broker and the Co-Broker. as provided in paragraph 6 above or otherwise be considered a reason to obtain the land or house from such a potential buyer in order to be considered a co-broker, may, at the sole discretion of the listing broker, receive a referral fee calculated as a percentage of the real estate commission paid to the listing broker on such sale (the “Referral Fee”). Referral fees are determined at the sole discretion of the listing broker based on the usual referral fee, which is then paid on a similar transaction in Central Florida.
The listing broker may, in its sole discretion, decide to pay the referral fee after reviewing the facts and circumstances of such a sale. Therefore, no referral fee is due and payable from the listing broker to an external broker, unless the listing broker decides that a referral fee is payable. Any third party broker may send a written request to the listing broker prior to closing to request a decision on whether or not to pay a referral fee, and the listing broker will confirm in writing to such third party broker within seven (7) days of receipt of such request whether such referral fee will be paid. The listing broker`s decision is final and binding on the external broker, and the external broker has no right to appeal or challenge such a decision. 16.2. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior and contemporaneous agreements and understandings, whether express or implied, oral or written. h) Do not close. If the completion of the sale of a parcel of land or a house does not take place for any reason, so that the construction of the house is not started or completed in accordance with the requirements of the main declaration, whether it was caused by the buyer or the builder, the co-broker is not entitled to a commission. In the event that all or part of a deposit or other amounts of a potential buyer of land or house expires in accordance with the terms of the purchase contract, the co-broker is entitled to participate in the half sum paid by that buyer and retained by the listing broker, not to exceed the total amount of the commission, which would otherwise be due and payable if the sale were actually carried out. Notwithstanding the foregoing terms of this paragraph, if the Developer decides, in its sole discretion, to authorize the return of a deposit or part thereof to a Buyer, the Co-Broker shall not be entitled to the deposit or part thereof returned to the Buyer, and in such a case, the Co-Broker shall immediately release such deposit or part thereof from the Escrow Account to the Buyer at the Request of the Developer. 15.
Review and Execution of Purchase Contracts. The co-broker is only allowed to obtain offers from potential buyers of the developer`s properties and homes and is not allowed to accept such offers or enter into binding agreements on the sale of the developer`s properties or homes. The co-broker is responsible for reviewing each purchase agreement and any sale will only be affected by using the purchase agreement form and other documents provided by the developer. If a purchase agreement for a developer`s property or home reviewed by a co-broker is in one form and contains only the conditions that have been previously approved, and the co-broker believes in good faith that the sale transaction proposed in such a purchase agreement should be completed by the developer, then the co-broker must immediately submit to the promoter and / or the builder for the execution of this purchase contract. If a purchase agreement deviates from the form of the purchase agreement as previously approved or contains options, upgrades or extras that have not been previously approved or differ from the purchase prices of the developer`s lots or homes or the prices of options, upgrades or extras as previously approved, Co-Broker will transmit the original of this purchase agreement with a cover note within two (2) working days of receipt of this purchase agreement, from which it appears that such a developer and manufacturer deviation. (c) Home Model/Specification. For a model house or specification house, the listing broker, the co-broker agrees to pay the commission at the same time as the conclusion and transfer of ownership of the model house or specification house and the financing of the proceeds of the sale, after the builder has paid the royalty payments due and payable to the developer under the developer`s builder`s royalty agreement between the developer and each respective manufacturer. and payment by the promoter to listing brokers, but only if such a transaction is concluded; Otherwise, no commission will be charged to co-brokers for a sale of a model house or a specific home that is not finalized. One. In the event of a dispute regarding a commission payable to the co-broker or the identity of the co-broker, the co-broker and the listing broker hereby acknowledge and agree that the listing broker will retain the commission due to the co-broker in trust until the parties involved have resolved the dispute in accordance with a written agreement or the dispute has been resolved and a final decision is made in accordance with the arbitration.
Becomes. Procedures established by the rules and regulations of the Mid-Florida Regional Multiple Listing Service. In the event of such a dispute, the co-broker hereby agrees to reimburse the listing broker for all costs and expenses (including attorneys` fees and expenses) related to such dispute. While listing brokers have implemented the following policies and procedures to determine the conditions under which listing brokers pay a commission to co-brokers, which apply to all cooperating brokers that provide sales services under development: 7. REFERRAL FEE. An external broker can provide the listing broker with information about a potential buyer and ask them to contact the listing broker to see lots or houses in Bella Collina. In this case, the external broker will not have provided the essential services or activities E. No authority to bind the other party. Neither party has the power to bind the other by representation, agreement or oral or written representation, unless expressly authorized in writing with the authorized signature of an officer, director or authorized representative of a party.
(d) Sales of Lots to Third Parties. THE CO-BROKER IS NOT ENTITLED TO A COMMISSION FOR THE SALE OF THIRD-PARTY LAND OWNED BY THIRD-PARTY OWNERS (INCLUDING THIRD-PARTY RESIDENCES BUILT ON IT). However, if the listing broker has entered into a separate listing agreement with the third-party owner and the listing broker approves the co-broker that assists third-party owners in selling their third-party lots, and if the co-broker has been the source of supply for the buyer who purchases that third-party lot (including a third-party dormitory) due to the co-broker`s direct contact with the third-party owner or through the developer`s or Listing broker with the third party owner, The co-broker is entitled to a commission based on the listing broker`s separate agreement with the third party owner. arising out of or resulting from any act or agreement relating to the purchase or lease of land or a house offered for sale or lease by the listing broker. CONSIDERING that the listing broker recognizes the importance of certain services to be provided by the co-broker and undertakes to cooperate fully with all duly authorized real estate agents in the marketing and sale of listed land and houses from time to time for sale or rental in development. R. The listing broker will pay the co-broker a real estate commission equal to three percent (3.0%) of the sale price of the land (as defined in this Agreement) for a developer lot or three percent (3.0%) of the final total sale price of the custom home (as defined in this Agreement), “co-broker fees”, provided that this co-broker is the source of the initial contact between the promoter and the buyer and that the potential buyer was appropriate, and is currently registered as described above. .