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.
Kansas Lease Provisions Relating to Brokers
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Multi-State
Control #:
US-OL29A07
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FAQ
The designated agents give their clients full representation, with all of the attendant fiduciary duties. A transaction broker (sometimes referred to as a facilitator) is permitted in states where nonagency relationships are allowed. These relationships vary considerably from state to state.
The transaction broker has no duty to: conduct an independent inspection of the property for the benefit of any party. conduct an independent investigation of the buyer's financial condition.
Kansas law requires real estate licensees to provide the following information about brokerage relationships to prospective sellers and buyers at the first practical opportunity. This brochure is provided for informational purposes and does not create an obligation to use the broker's services.
Because an agency relationship exists between the broker (agent) and the seller (client), both parties have duties to one another.
Either a broker or a firm may provide services to one or both parties in a transaction. B. When a broker provides brokerage services to a buyer, her or she must describe and disclose in writing the broker's duties and responsibilities owed to each of the parties.
The seller's agent represents the seller only, so the buyer may be either unrepresented or represented by another agent. The seller's agent is responsible for performing the following duties: promoting the interests of the seller with the utmost good faith, loyalty, and fidelity.
Listing agreements refer to the agreement between the seller and the broker. Buyer's Agent.
Brokerage Relationship A relationship created by a written brokerage agreement. between a client and a broker where the client. authorizes the broker to provide real estate brokerage. services in a residential real estate transaction.
