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.
Nebraska Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
The agent who is the procuring cause of a sale is that agent who initiated an uninterrupted series of events that led to the sale. Under open listings and exclusive-agency listings, an agent who was the procuring cause of the sale is entitled to a commission.
A licensee who sells or leases his own property must disclose that he is a real estate licensee in advertisements for the property. This does not apply if the property is listed with a real estate company.
Answer: A?A salesman may only collect a commission from his employing broker. Likewise, a broker may not pay a commission to anyone other than his employed salesman. The listing broker has violated the Real Estate Law, Section 10137.
Under an open listing, a seller agrees to pay a commission only if you actually sell the property yourself. In other words, you must be the procuring cause of the sale.An open listing is not an exclusive listing.
A procuring cause in real estate transactions refers to the real estate agent or broker whose actions resulted in the sale. As a result of their actions, that real estate professional is compensated with a commission from the property sale.
Procuring cause is in fact the interplay of factors which together demonstrate that the unbroken efforts of a specific broker were responsible for the buyer making the decision to consummate the sale on terms which the seller found acceptable.
Dual agent; powers and duties; confidentiality; immunity; imputation of knowledge or information. (1) A licensee may act as a dual agent only with the informed consent of all parties to the transaction. The informed consent shall be evidenced by a written agreement pursuant to section 76-2422.
The broker that produces the buyer is the one who has earned a commission under an open listing; the broker is referred to as the "procuring cause."
