Information About Brokerage Services
TYPES OF REAL ESTATE LICENSE HOLDERS:
- A BROKER is responsible for all brokerage ac vi es, including acts performed by sales agents sponsored by the broker.
- A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
- Put the interests of the client above all others, including the broker’s own interests;
- Inform the client of any material informa on about the property or transac on received by the broker;
- Answer the client’s ques ons and present any offer to or counter-offer from the client; and
- Treat all par es to a real estate transac on honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a wri en lis ng to sell or property management agreement. An owner’s agent must perform the broker’s minimum du es above and must inform the owner of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent or subagent by the buyer or buyer’s agent. An owner’s agent fees are not set by law and are fully nego able.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a wri en representa on agreement. A buyer’s agent must perform the broker’s minimum du es above and must inform the buyer of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent by the seller or seller’s agent. A buyer/tenant’s agent fees are not set by law and are fully nego able.
- Must treat all par es to the transac on impar ally and fairly;
- May, with the par es’ wri en consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instruc ons of each party to the transac on.
- Must not, unless specifically authorized in wri ng to do so by the party, disclose:
- that the owner will accept a price less than the wri en asking price;
- that the buyer/tenant will pay a price greater than the price submi ed in a wri en offer; and
- any confiden al informa on or any other informa on that a party specifically instructs the broker in wri ng not to disclose, unless required to do so by law.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
- The broker’s du es and responsibili es to you, and your obliga ons under the representa on agreement.
- Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
Real Broker, LLC
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
9003138
License No.
Michael Yarrito
Designated Broker of Firm
491108
License No.
Michael Yarrito
Licensed Supervisor of Sales Agent/ Associate
491108
License No.
Amy Spaulding
Sales Agent/Associate’s Name
0777562
License No.
Beth Worrell
Sales Agent/Associate’s Name
0716285
License No.
Buyer/Tenant/Seller/
Landlord Initials
Date