N.H. Code Admin. R. Rea 703.01 - Cooperative Brokerage Agreements
(a) A
licensed New Hampshire broker may cooperate with an out-of-state broker with
respect to a specific commercial real estate transaction provided the
out-of-state broker complies with the laws of this state and both brokers agree
in writing to all of the terms expressed in a cooperative brokerage agreement
prior to the commencement of any brokerage activity.
(b) The licensed New Hampshire broker shall
request a copy of the out-of-state broker's license or the license of the
out-of-state salesperson working under the direct supervision of the
out-of-state broker or other proof of licensure from the jurisdictions where
the out-of-state broker or out-of-state salesperson maintains a license as a
real estate broker or salesperson.
(c) To comply with (a), above, New Hampshire
brokers shall obtain from the commission, a "Cooperative Brokerage Agreement
Form", effective June 2017.
(d) The
New Hampshire broker shall complete a "Cooperative Brokerage Agreement Form",
by supplying the following:
(1) Date the
agreement was entered into by the parties;
(2) Date the agreement will expire, provided
however, a cooperating broker agreement shall not have a term that exceeds one
year;
(3) Provision for any
extension or early termination of the agreement;
(4) Name, telephone numbers and address of
the owner(s) of the commercial properties or, when the agreement involves buyer
or tenant representation, the name, telephone number, and address of the
buyer(s) or tenant client(s);
(5)
Location or legal description of the commercial properties, or both, when
applicable;
(6) A statement which
requires the parties to agree to the type of relationship the agreement will
covers with the consumer;
(7) A
statement that both the New Hampshire broker and the out-of-state broker agree
that all negotiations, including the showing, advertising, and listing of the
property, shall be handled under the direct supervision of the New Hampshire
broker, with the New Hampshire broker recognizing her or his responsibility
under RSA 331-A;
(8) A statement
that the out-of-state broker agrees not to advertise the listing in any manner
unless the New Hampshire broker is included in the advertising and that such
advertising shall be with full knowledge of and under the direct supervision of
the New Hampshire broker, giving the name and telephone number of the New
Hampshire broker equal prominence with the out-of-state broker;
(9) A statement that by signing the
cooperative brokerage agreement, the out-of-state broker and any out-of-state
salespersons working under the direct supervision of the out-of-state broker
is:
a. Agreeing to abide by New Hampshire law
and the rules of the commission; and
b. Is formally granting an irrevocable
consent and power providing that legal actions can be commenced against said
broker in the proper court of any county of this state in which a cause of
action does arise or in which the plaintiff resides by service of process or
pleading authorized by the laws of this state on a member of the commission or
its executive director, the consent or power stipulating that such service of
process or pleading shall be taken in all courts to be valid and binding as if
personal service had been made upon the nonresident in this state;
(10) A statement requiring the New
Hampshire broker to accept the responsibility for determining that the
out-of-state broker and any out-of-state salespersons working under the direct
supervision of the out-of-state broker is licensed as a broker or salesperson
in another state and agreeing to notify the commission immediately if the
out-of-state broker or out-of-state salesperson violates any part of the
cooperative brokerage agreement;
(11) A statement that if the out-of-state
broker or out-of-state salesperson fails to comply with any provision of
RSA
331-A:22-a he or she shall be considered in
violation of RSA
331-A:34;
(12) The commissions or other compensation,
stated as a dollar amount, percentage, or other specific
consideration;
(13) A statement
that if any earnest monies or deposits are received, accepted, or held in
accordance with RSA
331-A:13 and
Rea
702.01, the same shall be placed in the escrow account
of the New Hampshire broker;
(14)
The name, address, and witnessed signature of the New Hampshire broker;
and
(15) The name, address, and
witnessed signature of the out-of-state broker.
(e) The commissions or other compensations
resulting from the purchase, sale, rent, or lease, or management of the
commercial property, and which are earned during the period the agreement is in
force, shall be divided between the New Hampshire broker and the out-of-state
broker on a negotiable basis;
(f)
The parties shall execute 2 completed original cooperating agreements. The New
Hampshire broker and the out-of-state broker shall each receive one of these
originals.
Notes
#7267, eff 5-6-00; ss by #7522, eff 6-28-01; ss by #8835, eff 5-1-07
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