Listing and Buyer Representation Practices
Agreement types and compensation
Listing items test three things: the type of agreement, the flow of compensation, and the rules that attach once a tenant occupies the property. An exclusive right to sell earns the broker a fee no matter who produces the buyer; exclusive agency leaves the owner free to sell without a fee; open listings are non-exclusive. Whatever the form, term, fee, and any protection clause must be clear, and a licensee may not solicit a property subject to a known exclusive listing.
Cooperation is a compensation offer, not an agency relationship. The listing firm may offer a share to a cooperating firm, and in practice that offer flows through the MLS. A buyer-representation agreement should address how the buyer's broker is paid if the seller or listing broker offers less than the agreed fee - that gap is a common dispute.
Marketing and occupied property
Advertising must identify the firm, follow fair housing rules in both words and images, and be accurate about square footage, condition, and permitted use. For tenant-occupied property the District adds layers: reasonable advance notice before entry and showings, and, when the owner sells, Tenant Opportunity to Purchase Act (TOPA) notices delivered to the tenants. A licensee who lets a seller "just not tell the tenants" invites a complaint and a delayed closing.
Worked example: a $600,000 sale at 5% total commission generates $30,000; if the listing firm offers 2.5% to the cooperating firm, each firm receives $15,000; if the listing salesperson's split with her broker is 70/30, she receives $10,500 before taxes and fees.