IN HOUSE SALE Sample Clauses
The In-House Sale clause defines the terms and conditions under which a property may be sold by the listing agent or brokerage to a buyer who is also represented by the same agency. Typically, this clause outlines how commissions are handled when both the buyer and seller are clients of the same real estate firm, and may specify disclosure requirements or procedures to avoid conflicts of interest. Its core practical function is to ensure transparency and fairness in transactions where the same agency represents both parties, thereby addressing potential conflicts and clarifying commission arrangements.
IN HOUSE SALE. If a ▇▇▇▇▇▇ Realty Agent, other than the Listing Agent, sells the property, the Seller shall pay Broker only the Selling Agent’s portion, either 1.75% or 2.1% of the sales price as commission due based on a 3.5% commission rate. If a Listing Agent is also the Selling Agent, no commission is due as the Listing Agent is the owner of the property, a licensed real estate agent with ▇▇▇▇▇▇ Realty, & elects NOT to collect any commission due from ▇▇▇▇▇▇ Realty when the property sells.
IN HOUSE SALE. If the buyer and the seller are both represented by one or more agents in the same brokerage, that transaction is commonly referred to as an “In-House Sale”. Consequently, most In-House Sales involve limited agency because seller and buyer are represented by the same brokerage. Conflicts with the In-House Sale. There are conflicts associated with an In-House Sale; for example, agents affiliated with the same brokerage discuss with each other the needs of their respective buyers or sellers. Such discussions could inadvertently compromise the confidentiality of information provided to those agents. For that reason, the Company has policies designed to protect the confidentiality of discussions between agents and access to confidential client and transaction files. ▇▇▇▇▇▇▇ Money Deposit. ▇▇▇▇▇ and Seller agree that although the Company is authorized to act as a Limited Agent, ▇▇▇▇▇ and Seller authorize and direct the Principal Broker for the Company to hold and release the ▇▇▇▇▇▇▇ Money Deposit in accordance with the terms and conditions of the real estate purchase contract, or other written agreement entered into between the Buyer and the Seller.