Seller (_____) (_____) and Broker/Authorized Associate (_____) (_____) acknowledge receipt of a copy of this page, which is Page 3 of 5. The Parties acknowledge this form should not be used to share offers of compensation to buyer brokers or other buyer representatives via any field in the Multiple Listing Service. ERS-20tb Rev 7/2024 © 2024 Florida Realtors® 152 153 11. Brokerage Relationship: Broker will act as a transaction broker. Broker will deal honestly and fairly; will account 154 for all funds; will use skill, care, and diligence in the transaction; will disclose all known facts that materially affect 155 the value of the residential property which are not readily observable to the buyer; will present all offers and 156 counteroffers in a timely manner unless directed otherwise in writing; and will have limited confidentiality with 157 Seller unless waived in writing. 158 12. Conditional Termination: At Seller’s request, Broker may agree to conditionally terminate this Agreement. If 159 Broker agrees to conditional termination, Seller must sign a withdrawal agreement, reimburse Broker for all direct 160 expenses incurred in marketing the Property, and pay a cancellation fee of $____________________ plus 161 applicable sales tax. Broker may void the conditional termination, and Seller will pay the fee stated in Paragraph 162 8. Compensation: Seller will compensate Broker as specified below if a buyer is procured who is ready, willing, 106 and able to purchase the Property or any interest in the Property on the terms of this Agreement or on any other 107 terms acceptable to Seller . Seller will pay Broker as follows: 108 (a) __________% of the total purchase price plus $____________________ OR $____________________, no 109 later than the date of closing specified in the sales contract. However, closing is not a prerequisite for Broker’s 110 fee being earned. 111 (b) __________ ($ or %) of the consideration paid for an option, at the time an option is created. If the option is 112 exercised, Seller will pay Broker the Paragraph 8(a) fee, less the amount Broker received under this 113 subparagraph. 114 (c) __________ ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or 115 agreement to lease, whichever is earlier. This fee is not due if the Property is or becomes the subject of a 116 contract granting an exclusive right to lease the Property. 117 (d) Broker’s fee is due in the following circumstances: (1) If any interest in the Property is transferred, whether by 118 sale, lease, exchange, governmental action, bankruptcy, or any other means of transfer, regardless of whether 119 the buyer is secured by Seller , Broker , or any other person. (2) If Seller refuses or fails to sign an offer at the 120 price and terms stated in this Agreement, defaults on an executed sales contract, or agrees with a buyer to 121 cancel an executed sales contract. (3) If, within ______ days after Termination Date (“Protection Period”), 122 Seller transfers or contracts to transfer the Property or any interest in the Property to any prospects with whom 123 Seller , Broker , or any real estate licensee communicated regarding the Property before Termination Date. 124 However, no fee will be due Broker if the Property is relisted after Termination Date and sold through another 125 broker. 126 (e) Retained Deposits: As consideration for Broker’s services, Broker is entitled to receive ______% of all 127 deposits that Seller retains as liquidated damages for a buyer’s default in a transaction, not to exceed the 128 Paragraph 8(a) fee. 129 (f) Brokerage commissions are not set by law and are fully negotiable. 130 9. Notice to Seller Regarding Buyer Brokers: The buyer’s broker, even if compensated by Seller or Broker , will 131 provide services for the buyer. Seller is advised and is aware that Seller may, but is not required to, compensate a 132 buyer’s broker upon closing. Seller may choose to enter into a separate written agreement to pay buyer’s broker 133 or may approve Broker to pay buyer’s broker in accordance with paragraph 10. Seller also understands 134 (a) “Buyer’s broker” may include this Broker if Broker also works with buyer on this transaction; 135 (b) If this occurs during the duration of this listing, Broker will be entitled to the compensation in paragraph 8 136 for services performed for Seller , as well as the buyer’s broker compensation in paragraph 10(a) for 137 services performed for buyer; the Seller should therefore take this into consideration when negotiating 138 compensation; and 139 (c) Broker may receive separate compensation from buyer for services rendered to buyer by Broker . 140 141 10. Compensation to Buyer Brokers: Brokerage commissions are not set by law and are fully negotiable. 142 Seller approves the following (check all that apply; if no option is checked then option (c) is deemed to be 143 selected): 144 (a) Seller authorizes Broker to offer compensation to buyer’s broker in the amount of: ______% of the 145 purchase price or $_______________. (This amount will be paid from Broker to buyer’s broker from the 146 compensation amount agreed to in paragraph 8.) This compensation will be set forth in a separate written 147 agreement between Broker and buyer’s broker. 148 (b) Seller authorizes Broker to offer compensation to buyer’s broker from Seller in the amount of: 149 ______% of the purchase price or $_______________. This compensation will be set forth in a separate 150 written agreement between Seller and buyer’s broker. 151 (c) No compensation will be offered to buyer’s broker. 6 450 BROKER COMPLIANCE FEE 3
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