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Tesla Realty Group LLC 252 Java St #141, Brooklyn, NY 11222 www.teslarealtygroup.com 1.844.TESLA.KG info teslarealtygroupny. Cooperating BROKER COMPENSATION AGREEMENT (not to be used as addendum to

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How to fill out cooperating broker compensation agreement

01

To fill out a cooperating broker compensation agreement, follow these steps:

02

Obtain a copy of the agreement form from a reliable source.

03

Read the agreement thoroughly to understand its terms and conditions.

04

Fill in the necessary information such as the names of the cooperating brokers, contact details, and brokerage information.

05

Specify the compensation structure, including the percentage or amount of the commission to be paid.

06

Indicate the terms of payment, such as when and how the compensation will be disbursed.

07

Include any additional terms or conditions agreed upon by the cooperating brokers.

08

Review the filled-out agreement for accuracy and completeness.

09

Sign and date the agreement, and ensure all parties involved also sign.

10

Make copies of the signed agreement for all parties involved.

11

Store the original agreement in a secure and easily accessible location for future reference.

Who needs cooperating broker compensation agreement?

01

A cooperating broker compensation agreement is typically needed by individuals or entities involved in real estate transactions.

02

Real estate agents: Both buyer's agents and seller's agents may require a cooperating broker compensation agreement to establish their rights to compensation for their services.

03

Buyers and sellers: If they work with multiple agents or brokers, a cooperating broker compensation agreement can help clarify how commissions will be divided among the cooperating parties.

04

Real estate brokerages: Brokerages may use these agreements to outline compensation arrangements between their affiliated agents and other cooperating brokers.

05

Real estate attorneys: Attorneys involved in real estate transactions may also require a cooperating broker compensation agreement to protect their clients' interests.

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