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This document outlines the terms of compensation to be paid to a Buyer’s Broker for professional brokerage services in relation to the sale of a specific property. It specifies the conditions under which the compensation is offered, the parties involved, and the legal obligations that arise from this agreement.
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What is pre-showing compensation agreement?
A pre-showing compensation agreement is a contractual arrangement between a real estate broker and a property owner that outlines the compensation to be received by the broker for their services in facilitating showings of the property before an official listing.
Who is required to file pre-showing compensation agreement?
Typically, real estate brokers and agents who are authorized to market a property are required to file a pre-showing compensation agreement.
How to fill out pre-showing compensation agreement?
To fill out a pre-showing compensation agreement, provide the names of the parties involved, detailed property information, the compensation terms, and any specific conditions or stipulations agreed upon.
What is the purpose of pre-showing compensation agreement?
The purpose of the pre-showing compensation agreement is to clarify the financial arrangements between the property owner and the broker, ensuring that the broker is compensated for their efforts in showcasing the property, potentially before an official listing.
What information must be reported on pre-showing compensation agreement?
The agreement must report the names of the parties, the property address, the compensation structure, duration of the agreement, and any terms related to the showing process.
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