This office lease form is an exclusive brokerage agreement whereas the client wishes to obtain an office premises, an office building, or an interest in an office building with particulars and amenities as advised to the broker by the client in an orderly, prompt and prudent manner through a search effort that will meet the client's requirements in the current marketplace. This agreement lists the terms of the agreement, the requirements and rights of both parties, and services to be rendered.
Washington Brokerage Agreement for Services to Tenant
Category:
State:
Multi-State
Control #:
US-OL29A092
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Word;
PDF
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How to fill out Brokerage Agreement For Services To Tenant?
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FAQ
Which of the following is typically a licensee's duty to the brokerage? Work to promote and sell the broker's listings.
AGENCY DISCLOSURE Washington State law requires real estate brokers to disclose to all parties to whom the broker renders real estate brokerage services whether the broker represents the seller (or lessor), the buyer (or lessee), both the seller/lessor and buyer/lessee, or neither.
The Real Estate Brokerage Relationships Act is the Washington statute that governs real estate agency relationships. For the most part, it supersedes general agency law in the real estate context. Most agency relationships are created by express agreement (written or oral) between the principal and agent.
Fiduciary duty The licensee's obligation as an agent to act with the utmost good faith and diligence for the benefit of the principal who employs them.
Even where a broker or salesperson is acting for his or her own account, i.e., as a principal to the transaction, duties are owed to the other principal including the obligation to act honestly and fairly, in good faith, and without fraud or deceit.
In addition, a licensee is required to disclose any personal interest he or she has in a property. Confidentiality about the principal's affairs is an important aspect of loyalty. An agent is bound to inform the client of all facts that might affect the client's interests in the transaction.
030 - [Effective Until 1/1/2024] Duties of broker (1) Regardless of whether a broker is an agent, the broker owes to all parties to whom the broker renders real estate brokerage services the following duties, which may not be waived: (a) To exercise reasonable skill and care; (b) To deal honestly and in good faith; (c) ...
The duty to inform a party of transaction costs and to keep the party "informed" about the transaction applies only in the case of a party with whom the broker is working. These are not duties owed to all parties.