When it comes to the cooperative brokerage agreement, it`s important to understand who holds the ultimate responsibility of signing on the dotted line. The agreement is a legally binding contract between a real estate agent and a seller, outlining the terms and conditions of their cooperation.
Typically, it is the seller who closes on the cooperative brokerage agreement. As the party looking to sell their property, it`s their responsibility to choose an agent to represent them in the sale. Once the seller has selected an agent, they will work together to negotiate the terms of the agreement, including the commission rate, advertising expenses, and the length of the agreement.
However, it`s worth noting that in some cases, a buyer may also be required to sign a cooperative brokerage agreement. This can happen in situations where the buyer is working with an agent who is not representing the seller. In these cases, the buyer`s agent may need to sign a separate agreement with the seller`s agent, outlining their respective roles and responsibilities.
Regardless of who is required to sign the cooperative brokerage agreement, it`s essential to have a clear understanding of the terms and conditions of the contract. This includes knowing the duration of the agreement, the commission rate, and any other expenses or fees that will be incurred throughout the sales process.
In conclusion, the seller is typically the party who closes on the cooperative brokerage agreement. However, it`s important to seek legal guidance and fully understand the terms and conditions of the agreement before signing on the dotted line. This will ensure a smooth and successful sales process for all parties involved.