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.
Iowa Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
Listing agreements refer to the agreement between the seller and the broker. Buyer's Agent.
Under California law, a real estate broker has a fiduciary duty to their client. The broker's fiduciary duty to the client requires the utmost good faith and undivided service and loyalty. The broker fiduciary duty is greater than the negligence standard of due care of under Civil Code § 2079.
A broker is usually not an employee. Rather, a broker acts as a special agent of his or her principal to accomplish the limited and specific purposes of the agency. In this relationship, the broker is authorized to solicit, negotiate and to act on behalf of the principal within the course and scope of the agency.
A Broker Agreement, also known as a Finder's Fee Agreement or a Referral Agreement, sets forth the terms and conditions under which a Broker will either find goods and/or services for a Buyer to purchase or interested buyers for goods and/or services being sold by a Seller.
Broker-Client Agency Relationships. Seller agency occurs when the real estate broker is representing the seller in selling his or her property. This type of brokerage relationship is created when the seller and the broker enter into a written contract known as a listing agreement.
A listing agreement is a contract between a property owner and a real estate broker that authorizes the broker to represent the seller and find a buyer for the property. The three types of real estate listing agreements are open listing, exclusive agency listing, and exclusive right-to-sell listing.
Buyer gives Broker the exclusive right to locate and/or assist in the purchase, exchange or option to purchase property (purchase) at a price and with terms acceptable to Buyer. 2. Buyer agrees to compensate Transaction Broker.
Typically, the status of the real estate broker performing as a special agent of a principal in a real property or real property secured transaction is created by an express agreement (an actual agency).
