Paragraph 3F is more explicit that cooperating compensation is based upon the entire commission amount rather than as a percentage of the lease listing broker’s compensation. For example, 2.5% of the total compensation rather than ½ of the listing leasing broker’s compensation. Paragraphs 10M, N and O were added. Paragraph 14F is added to limit the broker’s duties once the purpose of the lease listing is satisfied and a lease is entered into between landlord and tenant. Other options are present for those agents who perform limited services after the signing of the contract. Most importantly, the lease listing client is informed that the broker is not being hired to perform property management services.
Revised June 2021