1. Co-Broking Procedures Deborah Cumming April 2012

2. Co-operation between two companies Listing broker and selling broker Commission is typically split Two sides to the commission (listing and selling)

3. Open Listings Multiple Listings (Exclusive Right of Sale)

4. Multiple listing agents Competing with the owner No control on the listing or selling process Creates competition, rather than co-operation No guarantee of commission No standard documentation

5. Not recommended for co-broking Co-broke letter required

6. Real estate firms are able to sell each other’s listings Quicker sale Vendor representation Buyer representation No dual agency

7. Maximum exposure Best price Guaranteed commission (contractual arrangement) Automatic co-operation Standard documentation Established commission

8. Listing Broker  Represents the vendor exclusively  Establishes commission  Markets the property  Arranges viewing appointments  Prepare offers (completes documentation)  Present ALL offers and counter offers to vendor

9. Listing Broker  Send information to vendor’s attorney (carriage of sale)  Oversees the SALE process  Updates sale process on website  If offer is rejected, signed rejected offer MUST be returned to selling broker

10. Selling/Co-operating Broker  Represents purchaser  Pre-qualifies the purchaser  Introduces property to purchaser  Obtain relevant information for offer  Arrange earnest deposit  Keep purchaser informed

11. Selling/Co-operating Broker  Buyer to sign offer  Send accepted offer to purchaser’s attorney

12. Name TRN Ad Address Company, Occupation and Title Purchase Price (Offer) Payment Terms

13. Deposit (at least 15% of Sale Price) Earnest Deposit (at least 10% of Deposit) Conditions Completion Possession Purchaser’s Attorney

16. Co-operation and effective communication between brokers Quicker sale Best price for vendor Fosters good working relationships between companies Raise the bar in the industry