MARYLAND
EXCLUSIVE RIGHT TO REPRESENT BUYER AGREEMENT
This Agreement is made on
06/16/12
(date) between
("Buyer") and Long & Foster Real Estate, Inc. ("Broker"). In consideration of services and facilities, the Broker is granted the right to represent the Buyer in the acquisition of real property. (As used in this Agreement, "acquisition of real property" shall include any purchase, option, exchange or lease of property or an agreement to do so.)
1. TERM. This Agreement begins when signed and, subject to Paragraph 7, terminates at on .
11:59
a.m./p.m.
Long & Foster Real Estate, Inc. 2. RETAINER FEE. The Broker (firm name) acknowledges receipt of a retainer fee in the amount of $ , which shall be subtracted from any compensation due the Broker under this Agreement. The retainer is non-refundable and is earned when paid.
3. BROKER DUTIES. (a) The Broker shall use professional real estate knowledge and skills to represent the Buyer in a diligent and effective manner and to locate property which is available for purchase and suitable to the Buyer; (b) unless the Broker is also representing the Seller, the Broker shall represent solely the interest of the Buyer in all negotiations and transactions regarding the acquisition of real property, and repudiate any agency or subagency relationship with the Seller or the company representing the Seller and shall not claim the subagency compensation offered to the selling broker in the Multiple Listing Service; (c) if the Broker represents the Seller as well as the Buyer (i.e., disclosed dual agency), the Broker may not disclose to the Buyer information obtained within the confidentiality and trust of the client relationship with the Seller, nor disclose to the Seller information obtained within the confidentiality and trust of the client relationship with the Buyer, without the consent of the party adversely affected by the disclosure unless otherwise required by law; (d) the Broker may represent other buyers who may be interested in the same property as the Buyer. 4. MINISTERIAL ACTS. The Broker and sales associates of Broker may perform ministerial acts, which are acts that assist another personto complete or fulfill a sale or lease with the client of the Broker and sales associate and which do not involve discretion or exercise of Broker and sales associate's own judgment. 5. BUYER'S DUTIES. The Buyer shall: (a) work exclusively with the Broker during the term of this Agreement; (b) pay the Broker directly or indirectly, the compensation set forth below; (c) comply with the reasonable requests of the Broker to supply any pertinent financial or personal data needed to fulfill the terms of this Agreement; (d) be available during Broker's regular working hours to view properties. 6. PURPOSE. The Buyer is retaining the Agent to acquire the following type of property
Page 1 of 3 LF174 2/12
7. BROKER'S FEE. The Buyer shall pay the Broker (less the retainer fee) compensation in the ("Broker's Fee") $345.00 plus 3% of the purchase price amount of in cash, if during the term of this Agreement, the Buyer enters into a contract to acquire any property, as described above, whether through the services of the Broker, or otherwise. Any compensation paid to the Broker by the Seller or a listing company shall be credited against the compensation due under this Agreement. The Broker may retain any additional compensation offered by the seller's representative, even if this causes the compensation paid to the Broker to exceed the fees specified above. In no case shall the compensation be less than the fees specified above. This Agreement shall also apply to any property presented to the Buyer by the Broker during the term of theAgreement when a contract is entered into within days after the termination date of this Agreement unless the Buyer has entered into a subsequent Exclusive Right to Represent Buyer Agreement with another Broker, in which event no additional compensation shall be due under this Agreement. Any obligation to pay the Broker compensation incurred under this Agreement survives the termination of this Agreement. days written notice to the 8. CANCELLATION. Either party may cancel this Agreement with other. However, if Buyer enters into a Contract of Sale to purchase a property which was presented to Buyer by Broker prior to cancellation, Paragraph 7 shall remain in full force and effect even if Buyer has entered into a subsequent Exclusive Right to Represent Buyer Agreement. 9. INTRA-COMPANY AGENT REPRESENTATION. When the Buyer and Seller are each represented by sales associates of the Broker, the Broker is a dual agent. Dual agency is permitted only when disclosed and with the knowledge and written consent of both parties. However, the sales associate assigned by the Broker as an intra-company agent may continue to provide the same services that a buyers agent can provide on a property listed with another broker. Check One: The Buyer consents to intra-company agent and disclosed dual agency representation, OR The Buyer does not consent to intra-company agent and disclosed dual agency representation (whichmeans the Buyer chooses not to be shown and not to purchase any properties listed by Broker). 10. ATTORNEY'S FEES. In the event that any dispute or disagreement arises (a) under this Exclusive Right to Represent Buyer Agreement or (b) under any agreement made by and between Buyer and any Seller resulting in Broker being made a party to any litigation or Broker is required to bring litigation or to retain legal counsel, Buyer agrees to indemnify Broker for all costs, attorney's fees and legal expenses incurred by Broker as a result thereof, provided that the litigation does not result in a judgment against Broker for acting improperly under this Agreement or any agreement made by and between Buyer and Seller. 11. OTHER PROVISIONS.
12. DISCLAIMER. The Buyer acknowledges that the Broker is being retained solely as a real estate agent and is not an attorney, tax advisor, lender, appraiser, surveyor, structural engineer, home inspector or other professional service provider. The Buyer is advised to seek professional advice concerning the condition of the property or concerning legal or tax matters. Buyer acknowledges that Brokers Company Policy provides for the payment of a monetary bonus to Brokers sales associates for the sale of property listed with Broker. 13. EQUAL OPPORTUNITY. Properties shall be shown and made available to the Buyer without regard to race, color, religion, sex, handicap, familial status, or national origin as well as all classes protected by federal, state and local laws.
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14. MISCELLANEOUS. This Agreement, any exhibits and any addenda signed by the parties constitute the entire agreement between the parties and supersede any other written or oral agreements between the parties. This Agreement can only be modified by written agreement of the parties. (Note: The Buyer should consult with the sales associate representing Buyer before visiting any resale or new homes or contacting any other REALTOR representing Sellers, to avoid the possibility of confusion over the agency relationship, procuring cause and compensation.) I/We acknowledge that I/we have read and understood Pages 1, 2 and 3 of this form.
Long & Foster Real Estate, Inc.
Brokerage Firm
4733 Bethesda Avenue
(Seal) Buyers Signature Address
Bethesda , MD 20814
City, State, Zip Code
(Seal)
Buyers Signature Broker/Sale Associate Signature
Address
Victoria Rose
,
Sales Associates Printed Name Telephone:
City, State, Zip Code Telephone:
(240) 497-1700
(301) 367-6781
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STATE OF MARYLAND REAL ESTATE COMMISSION
Understanding Whom Real Estate Agents Represent
At the Time of the First Scheduled Face to Face Contact with You, the Real Estate Licensee Who is Assisting You is Required by Law to Provide this Notice to You. This Notice is Not a Contract or Agreement and Creates No Obligation on Your Part. Before you decide to sell or buy or rent a home you need to consider the following information In this form sellerincludeslandlord; buyerincludestenant; purchase saleincludeslease and or Agents Who Represent the Seller Seller's Agent: A seller's agent works for the real estate company that lists and markets the property for the sellers and exclusively represents the sellers. That means that the Sellers agent may assist the buyer in purchasing the property, but his or her duty of loyalty is only to the sellers. Cooperating Agent: A cooperating agent works for a real estate company different from the company for which the seller's agent works. The cooperating agent can assist a buyer in purchasing a property, but his or her duty of loyalty is only to the sellers. If you are viewing a property listed by the company with whom the agent accompanying you is affiliated, and you have not signed a Consent for Dual Agency form, that agent is representing the seller Agents Who Represent the Buyer Presumed Buyers Agent (no written agreement): When a person goes to a real estate agent for assistance in finding a home to purchase, the agent is presumed to be representing the buyer and can show the buyer properties that are NOT listed by the agent's real estate company. A presumed buyers agent may not make or prepare an offer or negotiate a sale for the buyer. The buyer does not have an obligation to pay anything to the presumed agent. If for any reason the buyer does not want the agent to represent him or her as a presumed agent, either initially or at any time, the buyer can decline or terminate a presumed agency relationship simply by saying so. Buyer's Agent (by written agreement): A buyer may enter into a written contract with a real estate agent which provides that the agent will represent the buyer in locating a property to buy. The agent is then known as the buyers agent. That agent assists the buyer in evaluating properties and preparing offers, and negotiates in the best interests of the buyer. The agent's fee is paid according to the written agreement between the agent and the buyer. If you as a buyer wish to have an agent represent you, you must enter into a written buyer agency agreement before a contract offer can be prepared. Dual Agents The possibility of dual agency arises when the buyer's agent and the sellers agent both work for the same real estate company, and the buyer is interested in property listed by that company. The real estate broker or the brokers designee, is called the "dual agent." Dual agents do not act exclusively in the interests of either the seller or buyer, and therefore cannot give undivided loyalty to either party. There may be a conflict of interest because the interests of the seller and buyer may be different or adverse. If both seller and buyer agree to dual agency by signing a Consent For Dual Agency form, then the "dual agent" (the broker or the brokers designee) will assign one agent to represent the seller (the seller's "intra-company agent") and another agent to represent the buyer (the buyers "intra-company agent"). Intra-company agents may provide the same services to their clients as exclusive seller's or buyer's agents, including advising their clients as to price and negotiation strategy, provided the clients have both consented to be represented by dual agency.
LF1731 Page 1 of 2 Rev 1/2011
If either party does not agree to dual agency, the real estate company must withdraw the agency agreement for that particular property with either the buyer or seller, or both. If the seller's agreement is terminated, the seller must then either represent him or herself or arrange to be represented by an agent from another real estate company. If the buyer's agreement is terminated, the buyer may choose to enter into a written buyer agency agreement with an agent from a different company. Alternatively, the buyer may choose not to be represented by an agent of his or her own but simply to receive assistance from the seller's agent, from another agent in that company, or from a cooperating agent from another company. No matter what type of agent you choose to work with, you have the following rights and responsibilities in selling or buying property: >Real estate agents are obligated by law to treat all parties to a real estate transaction honestly and fairly. They must exercise reasonable care and diligence and maintain the confidentiality of clients. They must not discriminate in the offering of properties; they must promptly present each written offer or counteroffer to the other party; and they must answer questions truthfully. >Real estate agents must disclose all material facts that they know or should know relating to a property. An agent's duty to maintain confidentiality does not apply to the disclosure of material facts about a property. >All agreements with real estate brokers and agents should be in writing and should explain the duties and obligations of both the broker and the agent. The agreement should explain how the broker and agent will be paid and any fee-sharing agreements with other brokers and agents. >You have the responsibility to protect your own interests. You should carefully read all agreements to make sure they accurately reflect your understanding. A real estate agent is qualified to advise you on real estate matters only. If you need legal or tax advice, it is your responsibility to consult a licensed attorney or accountant. Any complaints about a real estate agent may be filed with the Real Estate Commission at 500 North Calvert Street, Baltimore, MD 21202. (410) 230-6206.
We, the that and Sellers/Landlord Buyers/Tenants acknowledge receipt of a copy of this disclosure and (firm name) (salesperson) are working as:
Long & Foster Real Estate, Inc. Victoria Rose
(you may check more than one box but not more than two) seller/landlords agent co-operating agent buyer's/tenant's agent intra-company agent/dual agent (CHECK BOX ONLY IF CONSENT FOR DUAL AGENCY FORM HAS BEEN SIGNED)
Signature
(Date)
Signature
(Date)
I certify that on this date I made the required agency disclosure to the individuals identified below and they were unableor unwilling to acknowledge receipt of a copy of this disclosure statement. Name of Individual to whom disclosure was made Name of Individual to whom disclosure was made
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Agent's Signature
LF1731 Page 2 of 2
(Date)
Rev 1/2011
S TATE OF MARYLAND
REAL ESTATE COMMISSION
Consent for Dual Agency
(In this form, the word seller includes landlord; buyer includes tenant; and purchase or sale includes lease)
When Dual Agency May Occur
The possibility of Dual Agency arises when: 1) 2) The buyer is interested in a property listed by a real estate broker; and The sellers agent and the buyers agent are affiliated with the same real estate broker.
Important Considerations Before Making a Decision About Dual Agency
A broker acting as a dual agent does not exclusively represent either the seller or buyer; there may be a conflict of interest because the interests of the seller and buyer may be different or adverse. As a dual agent, the real estate broker does not owe undivided loyalty to either the seller or buyer. Before the buyer and seller can proceed to be represented by a broker acting as a dual agent, they must both sign Consent for Dual Agency. If the buyer has previously signed Consent for Dual Agency, the buyer must affirm the buyers consent for the purchase of a particular property before an offer to purchase is presented to the seller. If the seller has previously signed Consent for Dual Agency, the seller must affirm the sellers consent for the sale of the property to a particular buyer before accepting an offer to purchase the property. The affirmation is contained on Page 2 of this form.
Your Choices Concerning Dual Agency
In a possible dual agency situation, the buyer and seller have the following options: 1. Consent in writing to dual agency. If all parties consent in writing, the real estate broker or the brokers designee (the dual agent) will assign one real estate agent affiliated with the broker to represent the seller (the sellers intra-company agent) and another agent affiliated with the broker to represent the buyer (the buyers intra-company agent). Intra-company agents may provide the same services to their clients as an exclusive sellers or buyers agent, including advising their clients as to price and negotiation strategy. 2. Refuse to consent to dual agency. If either party refuses to consent in writing to dual agency, the real estate broker must terminate the brokerage relationship for that particular property with the buyer, the seller, or both. If the seller's agreement is terminated, the seller must then either represent him or herself or arrange to be represented by another real estate company. If the buyer's agreement is terminated, the buyer may choose not to be represented by an agent of his or her own but simply to receive assistance from the seller's agent, from another agent in that company, or from a cooperating agent from another company. Alternatively, the buyer may choose to enter into a written buyer agency agreement with a different company.
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Rev. 1/2011
Duties of a Dual Agent and Intra-Company Agent
Like other agents, unless the client gives consent to disclose the information, dual agents and intra-company agents must keep confidential information about a clients bargaining position or motivations. For example, without written consent of the client, a dual agent or intra-company agent may not disclose to the other party, or the other partys agent: 1) 2) 3) 4) 5) Anything the client asks to be kept confidential; * That the seller would accept a lower price or other terms; That the buyer would accept a higher price or other terms; The reasons why a party wants to sell or buy, or that a party needs to sell or buy quickly; or Anything that relates to the negotiating strategy of a party. Dual agents and intra-company agents must disclose material facts about a property to all parties.
How Dual Agents Are Paid
Only the broker receives compensation on the sale of a property listed by that broker. If a financial bonus is offered to an agent who sells property that is listed with his/her broker, this fact must be disclosed in writing to both the buyer and seller.
Consent for Dual Agency
I have read the above information, and I understand the terms of the dual agency. I understand that I do not have to consent to a dual agency and that if I refuse to consent, there will not be a dual agency; and that I may withdraw the consent at any time upon notice to the dual agent. I hereby consent to have
Long & Foster Real Estate, Inc. (Firm Name)
act as a Dual Agent for me as the
, MD
Seller in the sale of the property at: Buyer in the purchase of a property listed for sale with the above-referenced broker.
Signature
Date
Signature
Date
AFFIRMATION OF PRIOR CONSENT TO DUAL AGENCY
l
The undersigned Buyer(s) hereby affirm(s) consent to dual agency for the following property:
, MD
Property Address
Signature
l
Date
Signature
Date
The undersigned Seller(s) hereby affirm(s) consent to dual agency for the Buyer(s) identified below:
,
Name(s) of Buyer(s)
Signature
Date
Signature
Date
LF1732
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Rev. 1/2011
Office:
Bethesda Avenue Bethesda (240) 497-1700 Victoria Rose , MD 20814
Address: 4733 Bethesda Avenue Phone: Agent: Team Name:
NOTIFICATION OF AGENCY WITHIN A TEAM (Maryland)
Under Maryland law, a team that provides real estate brokerage services must consist of two or more associate brokers or salespersons, or a combination of the two, who: 1. work together on a regular basis; 2. represent themselves to the public as being part of one entity; and 3. designate themselves by a collective name such as team or group. The team operates within a brokerage, and team members are supervised by a team leader as well as by the broker, and, if they work in a brokerage branch office, by the branch office manager. The law permits one member of a team to represent the buyer and one member to represent the seller in the same transaction only if certain conditions are met. If bothparties agree, the broker of the real estate brokerage with which the salespersons orassociate brokers are affiliated, or broker's designee, may designate one team member as the intracompanyagent for the buyer and another team member as the intracompany agent for the seller. The law also requires that the buyer and seller each be notified in writing that the two agents are members of the same team, and that the team could have a financial interest in the outcome of the transaction in addition to any financial benefit obtained by selling one of the brokers own listings. THIS FORM CONSTITUTES YOUR NOTICE OF THOSE FACTS. Dual agency may occur only if both parties consent to it, and sign the Consent for Dual Agency form prescribed by the Real Estate Commission. If you have concerns or questions about being represented by a team member when another team member represents the other party, you should address these to the broker or branch office manager before signing the Consent form. This form must be presented to the buyer and seller at the time that the real estate licensee presents the disclosure of agency relationships. For the seller, that should occur no later than when the seller signs the listing agreement. For the buyer, that should occur no later than the initial scheduled showing of property. ACKNOWLEDGMENT OF RECEIPT OF NOTICE I/we acknowledge receipt of the Notification of Agency Within a Team.
Date Date
LF597 Page 1 of 1 11/11
For Agent Use: Agent Name:
AFFILIATED BUSINESS ARRANGEMENT DISCLOSURE STATEMENT (Non-VIRGINIA)
Please Check One: To (Clients Name): Client Phone Number(s): Property Address: (Street) From: Home: Work:
(City)
Victoria
First
Rose
Last
Office Name:
Bethesda Avenue
Buyer
Seller
Cell:
(State) MD (Zip)
Long & Foster Real Estate, Inc.
Single-family
MLS #:
Townhouse Condo
Email:
Co-op Multi-family Lot / Land
Property Type (check one):
In connection with the sale and purchase of this property, you may need to obtain certain settlement services. This is to give you notice that Long & Foster Real Estate, Inc. ("Long & Foster") has business relationships (e.g., direct or indirect ownership interests, joint ventures and/or contractual relationships including marketing agreements and/or office leases) with the following mortgage, title, closing, insurance, and other service providers: Lenders for mortgage financing: Prosperity Mortgage Company To close your purchase or sale and/or for title insurance: RGS Title, LLC Sage Title Group, LLC Settlement Professionals, LLC Sage Title Group, LLC doing business as Sage Settlement Group Long & Foster Settlement Services LLC Long & Foster Settlement Services LLC DBA American Patriot Settlements Infinity Title Agency, Inc. Elzufon Auston Reardon Tarlov & Mondell, P.A. For insurance, including property, hazard, and flood: Long & Foster Insurance Agency, Inc. To assist in your short sale transaction: Platinum Group Services (a division of Home Service Connections, LLC) As a result of these relationships, referrals to any of the above-listed entities may provide Long & Foster (and/or any of its subsidiaries, affiliates, or employees) with a financial or other benefit. Set forth below are estimated charges or a range of charges for the settlement services listed. You are NOT required to use the listed providers as a condition for purchase of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES. LENDER CHARGES
PROSPERITY MORTGAGE COMPANY charges fees which may include discount points and/or lender origination charges, which accompany the interest rate you choose and which are listed as percentages of the loan amount. Estimated ranges for these charges are provided below. Please consult with your lender for a list of applicable charges. (VA, MD, DC) (VA, MD, DC, DE, WV) (MD, DC) (PA) (Philadelphia / NJ) (Philadelphia / NJ) (NJ) (DE)
Lender Origination Charge:
0% - 3%
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CLOSING FEES, TITLE INSURANCE & OTHER CHARGES Closing fees and other charges may be collected by your settlement company. These fees are not always determined consistently-even within the same company or office. Please consult with your settlement company for a list of charges. Estimated owners title insurance premiums (per $1,000 of sales price) are provided below for "enhanced" coverage. Other options may be available, including less comprehensive "standard" coverage and a "reissue rate," which could reduce your charges.
District of Columbia First $250,000 $250,001-$500,000 $500,001-$1,000,000 $1,000,001-$2,000,000 Maryland First $250,000 $250,001-$500,000 $500,001-$1,000,000 $1,000,001-$2,000,000 West Virginia First $100,000 $100,001-$500,000 $500,001-$2,500,000
$6.84 $6.12 $5.40 $4.68
$4.75 $4.05 $3.45 $3.00
$4.68 $4.08 $3.60
Simultaneous issue of Lenders Policy (DC) is $150.00. Title insurance commitment fee per owner/lender policy will not exceed $125.00.
Simultaneous issue of Lenders Policy (MD) is $150.00. Title insurance commitment fee per owner/lender policy will not exceed $100.00.
Simultaneous issue of Lenders Policy (WV) is $50.00. Title insurance commitment fee per owner/lender policy will not exceed $100.00.
Delaware First $100,000 $100,001-$1,000,000 $1,000,001-$5,000,000
$4.20 $3.00 $2.50
Simultaneous issue of Lenders Policy (DE) is $25.00. Title insurance commitment fee per owner/lender policy will not exceed $100.00. Lender required endorsements are approx. $150.00.
Pennsylvania First $30,000 $30,001-$45,000 $45,001-$100,000 $100,001-$500,000 $500,001-$1,000,000 $1,000,001-$2,000,000
Insured Closing Letter is $75.00.
$15.40 $7.98 $6.60 $5.50 $4.13 $3.03
North Carolina First $250,000 $250,001-$500,000 $500,001-$2,000,000 $2,000,001-$7,000,000
$2.40 $1.80 $1.20 $0.90
Closing Services Insurance premium (NC) is included in the rates above, but is optional. Insured Closing Letter is an additional 10% if lenders' policy is issued.
Lender required endorsements (PA) approx. $200.00.
New Jersey First $100,000 $100,001-$500,000 $500,001-$2,000,000
$6.00 $4.74 $3.18
Simultaneous issue of Lenders Policy (NJ) is $25.00. Lender required endorsements are approx. $25.00 each. Miscellaneous. charges are approx. $125.00. Out of pocket costs are approx. $170.00. Title Search / Exam Fee is $100.00.
INSURANCE CHARGES LONG & FOSTER INSURANCE AGENCY, INC. is an insurance agency representing many different insurers. The only cost is the insurance policy coverage chosen by you. Homeowners Insurance premium: $300-$1,600+ per year Flood insurance is not included in the estimate above, but may be available for an additional fee.
HOME WARRANTY DISCLOSURE Long & Foster has a business relationship with HMS Home Warranty and Home Trust Warranty. Through these relationships, Long & Foster Real Estate, Inc. and its customers may derive a financial and/or other benefit. Home Warranty cost: $300-$450
ACKNOWLEDGMENT I/we have read this disclosure form, and understand that Long & Foster Real Estate, Inc. is referring me/us to purchase the above-described settlement service(s) and may receive a financial or other benefit as the result of this referral. / Signature Date Signature / Date
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Office: Executive Offices 14501 George Carter Way Chantilly, VA 20151 (703) 653-8500
Bethesda Avenue Address: 4733 Bethesda Avenue Bethesda (240) 497-1700 Victoria Rose
, MD 20814
Phone: Agent:
EXPLANATION OF OUR FEE STRUCTURE
Long & Foster Real Estate, Inc. charges a Broker's Fee for its services that is comprised of two elements: a percentage of the sales/purchase price (sometimes referred to as the "commission % portion") and a flat fee. The flat fee portion is $345.00. WHY IS OUR FEE STRUCTURED THIS WAY? The real estate industry has changed dramatically over the years. As consumer needs for services and information have changed, so have the costs associated with meeting those needs. Long & Foster has invested heavily, for example, in software, equipment, high-speed telecommunications lines, and training for its agents and personnel. With the evolution of the real estate business model, so have come changes to its pricing structure. Long & Foster now includes a flat fee portion of the Broker's Fee as a means of avoiding an increase in our percentage portion, while continuing to provide customers and clients with the highest level of homeownership services in the industry. This pricing structure of a percentage portion plus a flat fee offers you better value, since the flat fee portion can often amount to a fraction of a percent of the sales price. We look forward to serving your real estate needs.
LF587
Page 1 of 1
6/09
Office: Executive Offices 14501 George Carter Way Chantilly, VA 20151 (703) 653-8500
Bethesda Avenue Address: 4733 Bethesda Avenue Bethesda (240) 497-1700 Victoria Rose
, MD 20814
Phone: Agent:
EXPLANATION OF OUR FEE STRUCTURE
Long & Foster Real Estate, Inc. charges a Broker's Fee for its services that is comprised of two elements: a percentage of the sales/purchase price (sometimes referred to as the "commission % portion") and a flat fee. The flat fee portion is $345.00. WHY IS OUR FEE STRUCTURED THIS WAY? The real estate industry has changed dramatically over the years. As consumer needs for services and information have changed, so have the costs associated with meeting those needs. Long & Foster has invested heavily, for example, in software, equipment, high-speed telecommunications lines, and training for its agents and personnel. With the evolution of the real estate business model, so have come changes to its pricing structure. Long & Foster now includes a flat fee portion of the Broker's Fee as a means of avoiding an increase in our percentage portion, while continuing to provide customers and clients with the highest level of homeownership services in the industry. This pricing structure of a percentage portion plus a flat fee offers you better value, since the flat fee portion can often amount to a fraction of a percent of the sales price. We look forward to serving your real estate needs.
Acknowledged and Agreed to:
Name/Signature
Date
Name/Signature
Date
LF587A
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