Brokerage Tips: The Benefits of Properly Worded Listing Agreements

By Amber E. Ferry, Esq. Moore & Company, P.A.

In sales where a yacht buyer trades in an existing boat for a new model – also known as the listing agreement/trade-in scenario – the broker representing the new boat buyer may be entitled to one commission on the trade-in and another commission on the new boat purchase. In effect, the new boat broker could be entitled to a commission as the listing agent on the trade-in, provided the Listing Agreement makes that specification, as well as a portion of the commission on the new boat purchase as the selling broker. This assumes the broker can show he/she was the procuring cause broker.

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