The Registration Agreement Between Brokers (TXR 2402) can be used to share or split a fee or commission when the property is not listed in an MLS and thus would not be subject to an unconditional offer to pay a commission. The form names the listing/principal and cooperating brokers, as well as the property in question. The two parties agree to a cooperating broker fee for sales, leases, renewals, or subsequent sales to a tenant. The form includes instructions about when to pay the cooperating broker fee, and how much to pay. The listing/principal broker is not obligated to pay the cooperating broker until the fee is earned, meaning when the prospect (or a related party) has entered into a binding agreement to buy or lease all or part of the property at any price. This form can be used in residential, commercial, and farm transactions. This is one of more than 130 forms exclusively available to Texas REALTORS®.
I see so many agents use this form on leases that are in MLS. Why?
What if the listing is in MLS but between to brokers? Can this form still be used?
If both are MLS members, it is not needed. The board or association governs the commissions paid in the MLS, but if one party is not a member, the for can be used.
My realtor has an offer from another realtor asking for 2% and listing agent gets 2% as well. Listing agent refuses to sell at 2%. Listing agent want 3% Can we as sellers make her take the 2%?
If you have a representation agreement that states, the commission is 2% to the seller’s agent and 2% to the buyer’s agent then that’s how much you’re required to pay them.
What if you have a commission agreement between the buyer and the buyer’s agent? Does the buyer rep cover it or do you need something specific for that property like this form?