Employment Agreements

Question 1

Agency Coupled with an Interest

Answer 1

An irrevocable agency in which the agent has an interest in the property as part or all of his compensation

Question 2

Buyer-Broker Exclusive Agreement

Answer 2

A document exclusive right to locate property

Question 3

Commission

Answer 3

Compensation for performing the duties of a real estate agent

Question 4

Cooperating Broker

Answer 4

The selling broker, who almost always represents the buyer

Question 5

Employment Agreement

Answer 5

This can be a listing agreement with a seller or a Buyer Broker employment agreement with a buyer. Employment agreements are for personal services

Question 6

Exclusive Right to Locate Property

Answer 6

A listing used to locate properties on behalf of the buyer

Question 7

Listing

Answer 7

Written employment contract between principal and agent, authorizing agent to perform services for principal involving real estate

Question 8

Listing Broker

Answer 8

The real estate broker who procured the listing.