Cooperating Agent Compensation Sample Clauses

Cooperating Agent Compensation. 5.1. The Seller(s) grants to Be Happy! Realty the authority to list the subject real property in the MLS and in doing so, offers cooperating agent compensation to ▇▇▇▇▇’s Agents and Facilitators. 5.2. In order to protect the Seller(s) from “Vicarious Liability” (the potential for a seller to be held liable for a misrepresentation or an act or omission of a “Seller’s Agent” (aka “Subagent”), as described in the “Massachusetts Mandatory Consumer Licensee Disclosure Form”), Be Happy! Realty, under the Seller(s) authorization, will not offer a commission to a “Seller’s Agent” (aka Subagent). 5.3. In an amount chosen by the Seller(s), the Seller(s) individually and/or jointly hereby agree to pay to a Buyer’s Agent or Facilitator (excludes Be Happy! Realty) a “percentage of the sale price” or a “flat dollar amount”, as noted below, to be paid to the Buyer’s Agent’s or Facilitator’s office, (not to Be Happy! Realty), only if a Buyer is procured by the Buyer’s Agent or Facilitator, and is ready, willing and able to buy said property, or any part, thereof, in accordance with the price, terms and conditions of this agreement, or other such price, terms and conditions acceptable to the Seller(s). (check applicable or provide “Other Amount”): 5.3.1. By law cooperating agent compensation (commission) is negotiable and not fixed by any state or federal law. 5.3.2. As a business decision, Be Happy! Realty elects not to contract with a seller, who elects to offer cooperating agent compensation, which is lower than 1%. 5.3.3. The Seller(s) may elect to offer cooperating agent compensation, in the form of a “flat dollar amount” rather than a “percentage of the sale price”. Be Happy! Realty recommends the Seller(s) elect a “percentage of the sale price” because a “flat dollar amount” is a rarity with residential real estate (more common with commercial real estate). 5.3.4. If the Seller(s) elects to offer cooperating agent compensation, in the form of a “flat dollar amount”, the “flat dollar amount" must be equal to or greater than 1% of the subject real property List Price; or, as a business decision, Be Happy! Realty will elect not to contract with the Seller(s). 5.4. Cooperating Agent compensation is only due when the Deed is recorded and considerations paid to the Seller(s). A commission will never be due and paid to Be Happy! Realty. 5.5. Be Happy! Realty will not be liable for any compensation due a cooperating agent (▇▇▇▇▇’s Agent or Facilitator). 5.6. Under applicabl...