Commercial Webinar Series
1 hour presentation
Commercial Commission Agreements
presented by
Rick Albers
Questions will be answered at the end.
For technical questions, call 800-263-6317.
Commercial Webinar Series
Commercial Commission
Agreements
Presented by
Rick Albers
Kuperman Orr & Albers, P.C.
1501 S. MoPac, Suite 325
Austin, Texas 78746
[email protected]
July 25, 2013
Topics
• Requirements to Earn a Commission
• Basic Commission Forms
• Legal Issues in Completing Forms
• Supplemental Commission Forms
• Commercial Broker’s Lien
Requirements to Earn a Commission
• Hold an active license
• Be a Broker or affiliated with a Broker
• Give statutory notice to get a title policy
or have an abstract of title examined by
an attorney
• Written agreement to pay
a commission
Requirements to Earn a Commission
• Written agreement to pay a commission
Signed by the party obligated to pay the
commission
Commission amount is stated or contains a
formula to calculate the commission
Legally sufficient property description
Termination date
Basic Commission Forms
Owner side - Listing Agreements
• Commercial Real Estate Listing Agreement
- Exclusive Right to Sell (TAR 1301)
• Commercial Real Estate Listing Agreement
- Exclusive Right to Lease (TAR 1302)
• Commercial Real Estate Listing Agreement
- Exclusive Right to Sublease (TAR 1303)
Basic Commission Forms
Other side - Representation Agreement
• Commercial Buyer/Tenant Representation
Agreement (TAR 1502)
Legal Issues
Commercial Real Estate
Listing Agreements
• Exclusive Right to Sell (TAR 1301)
• Exclusive Right to Lease (TAR 1302)
• Exclusive Right to Sublease (TAR 1303)
Legal Issues
Commercial Buyer/Tenant
Representation Agreement
• Buyer/Tenant Representation Agreement
(TAR 1502)
Supplemental Commission Forms
• Condominium Addendum to Listing (TAR 1401)
• Named Exclusions Addendum to Listing (TAR 1402)
• Exclusive Agency Addendum to Listing (TAR 1403)
• Amendment to Listing (TAR 1404)
• Information About On-Site Sewer Facility (TAR 1407)
• Commercial Property Condition Statement
(TAR 1408)
Supplemental Commission Forms
• Intermediary Relationship Notification (TAR 1409)
• Termination of Listing (TAR 1410)
• Keybox Authorization by Tenant (TAR 1411)
• Seller's Authorization to Release and Advertise
Certain Information (TAR 1412)
• Request for Mortgage Information (TAR 1413)
• Information About Special Flood Hazard
Areas (TAR 1414)
Supplemental Commission Forms
• Termination of Buyer/Tenant Representation
Agreement (TAR 1503)
• Notice from Buyer's Agent to Seller (TAR 1504)
• Amendment to Buyer/Tenant Representation
Agreement (TAR 1505)
• General Information and Notice to a Buyer
(TAR 1506)
Commercial Broker’s Lien
(Chapter 62 of the Texas Property Code)
• There must be a valid obligation to pay a commission.
• Notice of right to claim the Commercial Broker's Lien
must be disclosed in the commission agreement.
• Lien affidavit must be timely recorded and indexed
after the commission is earned.
• Deadline to record the Commercial Broker's Lien
Affidavit is different if commission owed by Seller,
Buyer, Landlord or Tenant.
Forms Revisions
• TAR Commercial Forms Committee
• Meeting beginning in August
• Suggestions and Comments are encouraged
Forms Revisions
•
•
•
•
TAR Commercial Forms Committee
Meeting beginning in August
Suggestions and Comments are encouraged
Official Collector of comments is:
Kinski Moss
TAR Senior Associate Counsel
[email protected]
Questions ?
• NOW –
Type your questions now.
• LATER –
TAR Legal Hotline 512-480-8200
Rick Albers
[email protected]
Conclusion
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Agreements - Texas Association of REALTORS