5. OBLIGATIONS OF THE BROKER Defines the three fundamental obligations of brokerage vis-à-vis the client: to help his client to acquire real estate, to help the client to negotiate the contract for the purchase of real estate and to respect other parts of the representation contract. I was the listing agent for a property that was not sold, but when my contract expired, was listed by another broker. I have a client who wants to see the same property. Does the new broker or my broker have to designate me as the licensee or how else can I behave? This section is designed so that buyers don`t use their agent to find the house and do all the work, then turn around and make an offer directly to the seller/listing agent. It also covers situations where there is no offer of compensation (For Sale By Owner is the best example) – mls is a direct offer of compensation between brokers, but if a property is not in mls, it is not bound by these rules. In the case of a brokerage-to-broker transaction, it is the MLS that creates the compensation offer between the two. If the listing broker does not pay, the buyer`s broker uses (what we call supply) to move in from the listing broker. It`s possible that your agent has other buyers who like the same homes and make offers that you make. The agent remains bound to respect confidentiality towards both parties and cannot reveal anything about the other party. You have an obligation to give the same advice to both buyers and simply do what you ask them to do if you make an offer or deal with a situation with multiple offers. Hello, my wife and I have signed a buyer agreement, but we are not completely satisfied and we are trying to terminate the contract.
I noticed, looking at the agreement, that the “Duration” section of the agreement had been left blank. You have indicated that this section must have a start and end date. Does it allow me to terminate the contract? I also noticed that the broker, who is also an agent, typed my nickname instead of my full name and typed my last name incorrectly in all areas where my name was noted. I signed my name in the domain of the client`s signature, but the client`s printed name was fake, as mentioned, she entered my nickname and misspelled my last name….