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Article 3

Posted by PRO Wed, 20 Jun 2007 19:03:00 GMT

REALTORS® shall cooperate with other brokers except when cooperation is not in the client’s best interest. The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker. (Amended 1/95)

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Standard of Practice 3-1

Posted by PRO Wed, 20 Jun 2007 19:14:00 GMT

REALTORS®, acting as exclusive agents or brokers of sellers/landlords, establish the terms and conditions of offers to cooperate. Unless expressly indicated in offers to cooperate, cooperating brokers may not assume that the offer of cooperation includes an offer of compensation. Terms of compensation, if any, shall be ascertained by cooperating brokers before beginning efforts to accept the offer of cooperation. (Amended 1/99)

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Standard of Practice 3-2

Posted by PRO Wed, 20 Jun 2007 19:16:00 GMT

To be effective, any change in compensation offered for cooperative services must be communicated to the other REALTOR® prior to the time that REALTOR® submits an offer to purchase/lease the property.
(Amended 1/10)

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Standard of Practice 3-3

Posted by PRO Wed, 20 Jun 2007 19:19:00 GMT

Standard of Practice 3-2 does not preclude the listing broker and cooperating broker from entering into an agreement to change cooperative compensation. (Adopted 1/94)

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Standard of Practice 3-4

Posted by PRO Wed, 20 Jun 2007 19:20:00 GMT

REALTORS®, acting as listing brokers, have an affirmative obligation to disclose the existence of dual or variable rate commission arrangements (i.e., listings where one amount of commission is payable if the listing broker’s firm is the procuring cause of sale/lease and a different amount of commission is payable if the sale/lease results through the efforts of the seller/landlord or a cooperating broker). The listing broker shall, as soon as practical, disclose the existence of such arrangements to potential cooperating brokers and shall, in response to inquiries from cooperating brokers, disclose the differential that would result in a cooperative transaction or in a sale/lease that results through the efforts of the seller/landlord. If the cooperating broker is a buyer/tenant representative, the buyer/tenant representative must disclose such information to their client before the client makes an offer to purchase or lease. (Amended 1/02)

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Standard of Practice 3-5

Posted by PRO Wed, 20 Jun 2007 19:22:00 GMT

It is the obligation of subagents to promptly disclose all pertinent facts to the principal’s agent prior to as well as after a purchase or lease agreement is executed. (Amended 1/93)

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Standard of Practice 3-6

Posted by PRO Wed, 20 Jun 2007 19:23:00 GMT

REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. (Adopted 5/86, Amended 1/04)

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Standard of Practice 3-7

Posted by PRO Wed, 20 Jun 2007 19:24:00 GMT

When seeking information from another REALTOR® concerning property under a management or listing agreement, REALTORS® shall disclose their REALTOR® status and whether their interest is personal or on behalf of a client and, if on behalf of a client, their relationship with the client. (Amended 1/11)

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Standard of Practice 3-8

Posted by PRO Wed, 20 Jun 2007 19:26:00 GMT

REALTORS® shall not misrepresent the availability of access to show or inspect a listed property. (Amended 11/87)

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Standard of Practice 3-9

Posted by PRO Mon, 01 Feb 2010 22:28:00 GMT

REALTORS® shall not provide access to listed property on terms other than those established by the owner or the listing broker.
(Adopted 1/10)

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Standard of Practice 3-10

Posted by PRO Mon, 10 Jan 2011 16:17:00 GMT

The duty to cooperate established in Article 3 relates to the obligation to share information on listed property, and to make property available to other brokers for showing to prospective purchasers when it is in the best interests of the seller. 
 (Adopted 1/10)

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