COBROKE AGREEMENT the Undersigned, Wisconsin Lakes Realty, Listing Broker Agrees to Pay to , Cooperating Broker at Closing a Com Form
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People also ask
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What is a COBROKE AGREEMENT?
A COBROKE AGREEMENT outlines the commission structure between the listing broker and the cooperating broker involved in a property sale. In this case, Wisconsin Lakes Realty, the listing broker, agrees to pay the cooperating broker a commission of four percent (4%) of the sale price for property located in the specified town and county.
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How does the commission payment work in the COBROKE AGREEMENT?
The commission payment as specified in the COBROKE AGREEMENT is calculated based on the total sale price of the property. Wisconsin Lakes Realty commits to paying the cooperating broker a commission of four percent (4%) at closing, ensuring a transparent and straightforward transaction process.
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What are the benefits of using a COBROKE AGREEMENT?
Using a COBROKE AGREEMENT benefits both the listing and cooperating brokers by clarifying the commission structure. This agreement enhances collaboration between brokers, ultimately leading to increased sales opportunities and ensuring all parties involved understand their earnings during the transaction process.
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Who signs the COBROKE AGREEMENT?
The COBROKE AGREEMENT is typically signed by the listing broker from Wisconsin Lakes Realty and the cooperating broker involved in the sale. It is important that both parties understand and agree to the terms outlined in the agreement to foster a collaborative relationship throughout the sale process.
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Can the COBROKE AGREEMENT be customized?
Yes, the COBROKE AGREEMENT can be customized to fit the specific needs of the involved brokers. While the standard agreement includes a payment of four percent (4%) commission by Wisconsin Lakes Realty, additional terms can be added to address particular situations or negotiations.
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How does the COBROKE AGREEMENT relate to closing costs?
The COBROKE AGREEMENT outlines the commission payment that is due at closing, which is four percent (4%) of the sale price as agreed upon by Wisconsin Lakes Realty and the cooperating broker. It's important for all parties to understand how these costs fit into the overall closing costs of the property sale.
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Is the COBROKE AGREEMENT legally binding?
Yes, the COBROKE AGREEMENT is a legally binding document once signed by the involved parties. This ensures that Wisconsin Lakes Realty and the cooperating broker are both committed to the terms of the agreement, particularly the specified commission payment at the time of closing.
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