THIS FORM HAS NOT BEEN APPROVED BY THE COLORADO REAI. ESTATE COMMISSION. THIS AGREEMENT HAs BEEN ISSUED AND APPROVED BY THE COLORADO BAR ASSOCIATION FOR USE BY COLORADO REAL E5TATE LICENSEES PURSUANT TO C.R.S. 512.10-403.
BROKERAGE FIRM COMPENSATION AGREEMENT
Date:_____________
Seller Broker:________________________________________________________
Seller Brokerage Firm:__________________________________________________
Buyer Broker:________________________________________________________
Buyer Brokerage Firm:__________________________________________________
Property:____________________________________________________________
Seller Brokerage Firm and Buyer Brokerage Firm are parties (“Parties”l to this Brokerage Firm Compensation Agreement (“Agreement”).
Seller Brokerage Firm represents that it is actively engaged in an Exclusive Right to Sell Listing Agreement (“Listing Agreement”) with the seller of the Property (“Seller”) and Seller Broker is designated to perform brokerage services on behalf of Seller Brokerage Firm to Seller.
Buyer Brokerage Firm represents that Buyer Broker is actively engaged in a brokerage relationship wlth a buyer, or buyer’s successors or assigns interested in purchasing property similar to the Property (“Buyer”). Buyer Broker is designated to perform brokerage services on behalf of Buyer Brokerage Firm to Buyer.
The Parties agree that upon Buyer and Seller entering into a contract for the purchase and sale of the Property (“Real Estate Contract”) and successful closing of the sale of the Property (“Closing”) to said Buyer, Seller Brokerage Firm agrees to pay Buyer Brokerage Firm compensation in the amount of ____ % of the final purchase price as described in the Real Estate contract or $_____________. However, Buyer Broker must tender the Real Estate Contract and Buyer Brokerage Firm must continue to work with Buyer through Closing. Such compensation is earned at the time the Real Estate Contract is signed but is contingent upon Closing and Buyer Brokerage Firm will be paid by Seller Brokerage Firm at Closing. Parties agree to the disclosure of such compensation in the Real Estate Contract and/or to their respective clients.
This Agreement expires upon the expiration of Seller Brokerage Firm’s Listing Agreement originally naming Seller Broker as the designated broker (and any extensions thereof or additional rights thereon). However, any compensation earned prior to such expiration will remain due and payable to Buyer Brokerage Firm at Closing. Any amendment to this Agreement shall be in writing and executed by the Parties.
The Parties authorize their respective Brokers to execute this Agreement on their behalf.
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Buyers Brokerage Firm Date Seller Brokerage Firm Date
THIS BROKERAGE FIRM COMPENSATION AGREEMENT WAS PREPARED BY REAL ESTATE SECTION COUNCIL ON BEHALF OF THE COLORADO BAR ASSOCIATION ©06/2024
