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523 - Brokerage Cooperation Agreement - North Carolina ... - ncrealtors

523 - Brokerage Cooperation Agreement - North Carolina ... - ncrealtors 2025

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The document outlines a Brokerage Cooperation Agreement between a Resident Broker and a Nonresident Licensee in North Carolina, detailing the requirements for nonresident commercial licensees to operate in the state. It specifies the terms of cooperation, agency relationships, commission sharing, and responsibilities regarding property transactions. The agreement must be executed alongside a Declaration of Affiliation and retained by both parties.

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Click ‘Get Form’ to open the 523 - Brokerage Cooperation Agreement in the editor.
Begin by entering the names of the Resident Broker and Nonresident Licensee in the designated fields at the top of the form.
Specify the property involved in the agreement by filling in the property address where indicated.
Select the status of the Nonresident Licensee regarding their role as either a seller/landlord’s agent or a buyer/tenant’s agent.
Repeat step 4 for the Resident Broker, indicating their respective agency status.
Decide whether an agency relationship is being established between both parties and check the appropriate box.
Outline how any commission will be shared between parties by selecting one of the options provided and filling in necessary details.
Ensure that all parties sign and date at the bottom of the form to finalize the agreement.

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What is a cooperating broker in real estate?

rental agreement - A broker could be relieved from the duty of delivering leases or rental agreements to a property owner within three days if the property owner provides prior written authority allowing the broker to retain the agreements on the owners behalf.

What states require a buyer agency agreement?

If you are a REALTOR, you will be required in all 50 states to have a Buyer Written Agreement before touring homes. Michael Tessaro DOJ just intervened to block the release of the new California forms from CAR. Thats a very interesting, and possibly disturbing incident.

What is a cooperation agreement in real estate?

A cooperating broker agreement is an agreement frequently used in the real estate industry. A cooperating broker is a broker who is not the listing broker. However, the cooperating broker finds a buyer for the listed property.

What happens if a buyer does not have an agent?

Yes, they have to have some sort of written agreement before you can tour a property (if theyre not the listing agent).

Is a buyer agency agreement required in NC?

Yes, in North Carolina brokers may not undertake to provide any brokerage services without an agency agreement. For transactions prior to these new rules being implemented, agents were often working for a buyer under an oral agency agreement up until the time an offer was going to be submitted.

Is a buyer agency agreement required in North Carolina?

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.

523 - Brokerage Cooperation Agreement - North Carolina ... - ncrealtors 2025

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523 - Brokerage Cooperation Agreement - North Carolina ... - ncrealtors 2025

Here's how it works

How to use or fill out 523 - Brokerage Cooperation Agreement - North Carolina with our platform

Complete this form in 5 minutes or less

Got questions?

What is a cooperating broker in real estate?

What states require a buyer agency agreement?

What is a cooperation agreement in real estate?

What happens if a buyer does not have an agent?

Is a buyer agency agreement required in NC?

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