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The agreement sets out the scope of brokers duties and buyers obligations. However, the buyer is under no obligation to pay compensation to the broker. The agreement also absolves the buyer from the responsibility of paying a commission if another party (e.g., the seller) pays a commission to the broker.
A cooperating broker is a non-listing third-party broker that finds a buyer for the property. In other words, a cooperating broker is the broker that finds a buyer, but is not listing that specific property.
A Listing Broker and Seller enter into a contract whereby the Seller agrees to compensate the Listing Broker for services provided in the sale of the Sellers home. Listing Broker makes an offer to Cooperating Brokers agreeing to compensate the Cooperating Broker for procuring the eventual buyer.
A cooperating broker is a broker who is not the listing broker. However, the cooperating broker finds a buyer for the listed property. Through a cooperating broker agreement, the cooperating broker earns a share of the commission paid at the close of the sale.
A cooperating broker is a non-listing third-party broker that finds a buyer for the property. In other words, a cooperating broker is the broker that finds a buyer, but is not listing that specific property. This occurrence happens quite frequently in the real estate industry.
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Brokerage Relationship A relationship created by a written brokerage agreement. between a client and a broker where the client. authorizes the broker to provide real estate brokerage. services in a residential real estate transaction.

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