Legal / Broker Policy
The client reserves the right to register and choose their Broker, as opposed to the Broker registering the client. To earn a Cooperating Broker sales commission, a Cooperating Broker agrees to participate fully as Purchaser’s agent and perform the duties and responsibilities customarily and traditionally performed by a real estate salesperson or broker in the State of Hawaii. Such duties and responsibilities include, without limitation, coordination of loan approval, processing and funding; coordination of pre-closing and closing obligations; proper delivery of required condominium documents, reports, receipts and notices; timely collection and delivery of required deposits and payments pursuant to the Purchase Agreement.
No Cooperating Broker sales commission will be paid if the Buyer has executed the Purchase Agreement without designating a Cooperating Broker. The Cooperating Broker sales commission is only paid on closed transactions, and per the fully executed Cooperating Broker agreement.