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January 22, 2019

Cooperating Broker


Word of the day

Cooperating Broker

- A broker who assists another broker (usually the “listor”) in the sale of real property. Usually, the cooperating broker is the (selling) broker who found the buyer who offers to buy a piece of property listed with another (listing) broker. The cooperating broker has no contractual relationship with the seller and therefore must look solely to the listing broker for a commission. Cooperating brokers should be aware that cooperation does not necessarily mean compensation; they should always verify the compensation offered by the listing broker. 

Negotiations concerning property listed exclusively with one broker should be carried on with the listing broker, not with the owner (except with the consent of the listing broker).
 

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