This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Alabama Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
A qualifying broker is held responsible to the commission and to the public for acts of each salesman licensed under him.? By this law we see that every real estate agent must under the tutelage of a qualifying broker, and the broker is responsible for all acts of the agents under them.
What is true about brokerage agreements in Alabama? They must be in writing to be enforceable. An associate who lists a property still has certain obligations to the buyer in a transaction.
Pass the Alabama Real Estate Salesperson Licensing Exam You will have 60 minutes to complete the state portion and 150 minutes to complete the national portion. The state exam has 40 questions, and the national exam has 100 questions. All exams require a "scaled" score of 70% to pass.
It is the Alabama Real Estate Commission's goal to protect the public interest in all real estate transactions.
Unlicensed assistants may complete the following tasks: Complete forms prepared for, and as directed by a broker. Unlicensed assistants cannot independently draft legal documents such as listing or sales contracts, and they cannot offer opinions, advice or interpretations of these documents.
Unlicensed assistants can do a fair amount of paperwork and legwork, leaving the agents free to use their time finding clients and negotiating transactions. List or sell property, prospect for listings, show property, hold open houses alone, or answer buyers' questions about property.
What are some activities that an unlicensed person may NOT perform? Show homes, apartments or other real property, discuss specific properties with clients or customers, or hold open houses.
Receiving, recording, and depositing earnest money. This is a lawful activity for an unlicensed assistant to conduct. Unlicensed assistants may not independently host open houses, prospect, or act in any way as though they were licensed.
