The Broker Cooperation Agreement serves as a foundational document for establishing professional relationships between brokerage firms in the United States. This agreement becomes necessary when brokers wish to formalize their collaboration on transactions, share resources, or extend their market reach. It addresses crucial aspects such as commission splitting, confidentiality, territory definitions, and compliance with both federal and state regulations. The agreement is particularly important in today's interconnected market where cross-firm cooperation is increasingly common and regulatory oversight is stringent.
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1. Parties: Identification of the cooperating brokers and their legal status
2. Background: Context and purpose of the cooperation agreement
3. Definitions: Key terms used throughout the agreement
4. Scope of Cooperation: Details of how the brokers will work together
5. Commission Structure: Terms of commission sharing and payment processes
6. Term and Termination: Duration of agreement and termination conditions
7. Confidentiality: Protection of shared information
1. International Transactions: Special provisions for cross-border dealings when parties operate in different countries
2. Technology Integration: Terms for shared technology platforms when parties share technical resources
3. Training Requirements: Specific training obligations when specialized knowledge transfer is needed
1. Commission Schedule: Detailed breakdown of commission structures and calculations
2. Territory Map: Geographic areas covered by the agreement
3. Service Level Agreement: Specific performance metrics and standards
4. Contact List: Key personnel and their responsibilities
Relevant legal definitions
Agreement
Broker
Cooperating Broker
Commission
Commission Split
Confidential Information
Effective Date
Licensed Agent
Listing Agreement
MLS
Property
Referral Fee
Sale Price
Services
Territory
Term
Transaction
Working Day
Gross Commission Income
Intellectual Property Rights
Marketing Materials
Professional Standards
Broker
Cooperating Broker
Commission
Commission Split
Confidential Information
Effective Date
Licensed Agent
Listing Agreement
MLS
Property
Referral Fee
Sale Price
Services
Territory
Term
Transaction
Working Day
Gross Commission Income
Intellectual Property Rights
Marketing Materials
Professional Standards
Clauses
Scope of Cooperation
Commission Structure
Territory Definition
Confidentiality
Non-Solicitation
Term and Termination
Representations and Warranties
Indemnification
Insurance Requirements
Commission Splitting
Dispute Resolution
Professional Standards
Marketing and Branding
Data Protection
Record Keeping
Intellectual Property
Force Majeure
Assignment
Notices
Governing Law
Entire Agreement
Severability
Commission Structure
Territory Definition
Confidentiality
Non-Solicitation
Term and Termination
Representations and Warranties
Indemnification
Insurance Requirements
Commission Splitting
Dispute Resolution
Professional Standards
Marketing and Branding
Data Protection
Record Keeping
Intellectual Property
Force Majeure
Assignment
Notices
Governing Law
Entire Agreement
Severability
Relevant Industries
Relevant Teams
Relevant Roles
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