Broker Co-Op Commission for The Ridge Community

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The Ridge
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Broker Co-Op Commission

Like most builders, we have a strict policy of requiring agents/brokers to accompany their clients on their first visit to our neighborhood, models, open house, preview or events.

Buyers’ agents/brokers MUST ACCOMPANY CLIENTS ON FIRST VIEW/VISIT AND REGISTER their clients to be eligible for broker co-op commission, no exceptions.

This information is on the MLS, it is also on the registration for clients and agents, which they must sign at their first visit.

If the seller and the named client fail to execute a definitive Purchase Agreement within 30 days of registration, the agent must re-register or forfeit any right or claim to a commission or referral fee to the client and this development.

ADDITIONAL BROKER COOPERATION TERMS AND CONDITIONS**

  1. Buyers’ agents/brokers MUST ACCOMPANY CLIENTS ON FIRST VIEW/VISIT AND REGISTER their clients to be eligible for broker co-op commission, no exceptions.
  2. Broker cooperation may not be offered for all residences in a community.
  3. Broker cooperation amounts and terms may differ from residence to residence.
  4. Eastok Realty is not obligated to offer broker cooperation and, if offered, the broker cooperation shall be in an amount and terms determined by Eastok Realty and The Ridge Ownership in its sole discretion.
  5. Eastok Realty may withdraw an offer of broker cooperation or change the terms of such offer, including the residences covered by the offer, at any time without notice.
  6. If offered, broker cooperation shall be offered only to licensed California Real Estate Brokers.
  7. Depending on the negotiations during the offer process, home purchasers who are licensed California real estate brokers or salespersons may be entitled to broker cooperation. This offering various by purchase offer negotiations.
  8. The broker/agent must accompany the purchaser at the purchaser’s first visit to the community, preview event or open house, no exceptions.
  9. At such first visit the broker and purchaser must complete registration using provided QR code.
  10. The Co-op registration shall apply only to the The Ridge community and residences and not to any other community or residence listed by Eastok Realty.
  11. The Co-op registration may not be assigned by the broker or purchaser.
  12. The broker cooperation fee shall be paid if any only if the purchaser closes escrow for the residence specified in the Co-op Documents & Purchase Agreement. If escrow does not close for any reason, including the fault of the seller, no broker cooperation amount shall be paid.
  13. Eastok Realty shall have no obligation to provide the cooperating broker with notices or other information of any kind regarding the purchase of a home by the purchaser.
  14. Broker and any salesperson representing the purchaser under Broker must have valid California real estate brokers/salesperson license at the time of execution of the Co-op Documents, Purchase Agreement, Registration and the close of escrow for purchaser’s purchase of the residence described in the Co-op Documents & Purchase Agreement.

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**Broker co-op terms and conditions are subject to change without notice. If there is any conflict between the listed terms and conditions and the terms and conditions of the Broker Cooperation Agreement, the Broker Cooperation Agreement shall control.

If you have any further questions, please don't hesitate to contact the office.