Spotlight on Contracts & Forms

Posted on: October 3rd, 2016 by Andrew Clark No Comments

CABR has a library of contract clauses and more than 40 contracts and forms available for use by CABR members.

Compensation Agreement for Non-MLS Listed Real Estate:

Out of area listing…listing withheld from MLS…non-member listing…what do you do about cooperative compensation?

Sometimes, a property that is listed with a real estate broker is nowhere to be found in MLS.  You may wonder if the property can be shown and, if so, will you get paid in the event you procure a buyer.  If a property is not listed in a Multiple Listing Service in which you hold membership, you must make arrangements with the listing broker in order to be entitled to be compensated by that broker.  So, if it’s been withheld from MLS, is listed with a non-member broker or a broker who holds membership in a different MLS than one in which you are a member, an agreement must be reached between the brokers regarding compensation – if you expect to be compensated by the listing broker.  CABR has a form to facilitate that agreement.  So, don’t find yourself looking for a commission that was never offered or agreed upon and make arrangements prior to showing to establish your compensation.

You can view the form by signing in at www.cabr.org.