Three Forms to Help You Get Paid

Have you ever been burned by a seller or listing broker who refused to honor a verbal compensation agreement?   Rhode Island law requires a written contract or other form of writing in order to enforce the promise to pay a real estate compensation to a listing broker or cooperating broker.  Use these three RIAR forms to protect yourself.

• Showing and Compensation Agreement – Use this form to negotiate your compensation with the seller of a For Sale By Owner list before you show the property to your buyer client.
• Referral Form – Use this form to negotiate the terms of a referral and how long it will remain in effect.
• Compensation to Cooperating Brokerage – Use this form to negotiate broker-to-broker compensation for non-MLS listings, a change in compensation or to compromise when there’s a procuring cause issue.

Questions?  Please contact the RIAR Legal Department at 401-432-6945 or email monica@rirealtors.org.