Get the up-to-date Co-broke AGREEMENT 2025 now

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The document is a Co-Broke Agreement between Wisconsin Lakes Realty, Inc. and a cooperating broker, outlining the terms of commission payment upon the successful closing of a property sale. It specifies the commission percentage based on the broker's involvement in providing leads and includes details about the buyers, property, and contact information for both brokers.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a co-broke fee?

In the co-broke process, the agent who has the property listed (the one representing the seller or landlord) shares the transaction commission with the agent who brings in the buyer or renter. The total commission is divided between the two agents, usually this goes hand in hand with a pre-arranged agreement.

What is a co-broke agreement?

Co-broking is a term used to label when people have to split commissions between brokers via a co-broker agreement. This typically means that one broker represents the buyer. Another broker represents the seller. This ensures all parties get their commission.

What is 2.5% co op?

Co-op (cooperative payment) means that you would be willing to pay a Buyers Agent a fee for bringing a buyer to you. Typically, a Buyers Agent is paid 2.5% - 3.0% of the sales price. It is necessary to list the commission amount you are willing to pay on the MLS when you list your home with the real estate agent.

What does broke agreement mean?

A breach of contract is when one party to the contract doesnt do what they agreed. Breach of contract happens when one party to a valid contract fails to fulfill their side of the agreement. If a party doesnt do what the contract says they must do, the other party can sue.

What does 2.5% CO broke mean?

The listing broker agrees to pay out 2.5% to the buyer broker. The buyer broker can only legally take 1.5%, so they credit the 1% to the buyer at closing. And they have then legally satisfied their obligations and the buyer gets 1% to use toward the purchase.

What is the meaning of co-broke?

This means the buyers agent has to negotiate with the sellers agent if they choose to co-broke and share the commission. Co-broking refers to a situation where two or more salespersons, representing different parties in a transaction, work together to complete the deal.

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