Contracts
What is a 'co-brokerage agreement' in Rhode Island real estate?
AAn agreement between two brokers to operate jointly
BAn agreement between a listing broker and a cooperating broker to share the commission upon a successful sale✓ Correct
CA contract between two buyers represented by the same broker
DAn agreement between a broker and a lender
Explanation
A co-brokerage agreement (or cooperating broker agreement) establishes the terms under which the listing broker will share the commission with a cooperating broker who brings the buyer. MLS systems facilitate co-brokerage by setting standard cooperation and compensation terms.
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