Other

TXR 2002 — Agreement Between Brokers for Residential Leases

Establishes the fee-sharing arrangement between a listing broker and a cooperating (other) broker in a residential lease transaction. It defines the commission amount or percentage the listing broker will pay the other broker for procuring a tenant, as well as optional additional fees if the parties renew the lease or the landlord agrees to sell the property to the tenant, and when each fee is earned and payable.

Source: TXR
Form Number: 2002
Category: Other
Revised: October 14, 2003

Used For

Residential Sales, RESIDENTIAL_LEASING

Form Outline

The TXR 2002 form is organized into the following sections:

  1. Property and Parties
    "CONCERNING THE RESIDENTIAL LEASE OF THE PROPERTY AT ____ between ____ (Landlord) and ____ (Tenant)."
  2. A. FEE
    "Listing Broker will pay Other Broker a fee equal to: ❑ (1) ___% of one full month's rent … ❑ (2) ___% of all rent … under the primary term … ❑ (3) ____." The fee is earned when the lease is binding and payable promptly after Tenant pays the first full month's rent, the prorated rent, and the security deposit.
  3. B(1). OTHER FEES — Renewals
    "❑ (1) Renewals: If the parties to the above-referenced lease renew the lease, Listing Broker will pay Other Broker an additional fee equal to: ❑ (a) ___% of one full month's rent … ❑ (b) ___% of all rent … under the renewal term … ❑ (c) ____." Earned when the renewal begins; payable when Listing Broker receives its renewal fee. Does not apply to month-to-month renewals.
  4. B(2). OTHER FEES — Sales
    "❑ (2) Sales: If Landlord agrees to sell the Property to Tenant during the term of the lease, including any renewal or extension, Listing Broker will pay Other Broker an additional fee equal to: ❑ (a) ___% of the sales price. ❑ (b) ____." Earned when Landlord agrees to sell; payable when Listing Broker receives its fee for the sale.
  5. Broker Signatures and Information
    Other Broker (left column) and Listing Broker (right column): name and License No., "By" signature with Date, Address, City/State/Zip, Phone and Fax. "Submit IRS Form W-9 to Listing Broker for payment of fee."

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