Helping the commercial REALTOR® make money while protecting the interests of their clients
By Jay Zollars, Chair
CI Standard Forms Committee
The Columbus Board of REALTORS® has by far one of the best Commercial Sections of any Board in Ohio. From my understanding we are one of the few boards that have a Commercial Standard Forms committee. We constantly strive to keep our forms relevant and current.
Commercial Cooperation Agreement form
This year we have completed the Commercial Cooperation Agreement form which will help our practitioners make money. How? With COCIE (Central Ohio Commercial Information Exchange), compensation is not guaranteed as in our MLS. Our newly created form allows practitioners to negotiate compensation prior to submitting a lease proposal or real estate purchase contact. We have streamlined and simplified the form to allow agents to easily complete the compensation agreement to present to the cooperating Broker or an individual owner. It is very important for our members to understand compensation is not guaranteed and this form properly completed and signed by the cooperating Broker and/or Owner will ensure payment of a commission.
CI Before/After Transaction Checklist
Currently we are updating our CI Before/After Transaction Checklist. This form will be useful for everyone. This guide to organizing the transaction will be very useful for agents, brokers and managers within any office. With clear indication of who, where, and what is needed to comply with the State as well as help you keep the transaction organized and timely. This form should be available late fall.
Referral Commission Agreement
We are also working on a revised referral commission agreement. Referrals are a wonderful way to earn money and allow a professional agent/broker to introduce a fellow professional agent/broker to your client in an area of town or expertise you may not be familiar with. Referring business to the most qualified individual is the best thing you can do to help a client. Trying to be the REALTOR® for all types of transactions can lead to lawsuits and injustice to your client. Using this user-friendly new format, you can refer your client to a fellow REALTOR® and still make money. You can also use this form for clients looking for services outside of Columbus. Be smart and get paid while protecting the interests of your client.
We Welcome your Input -- and Involvement
We also look to our members for suggestions on current forms or potential new form ideas. If you have any suggestions or comments on any form, please email myself (jay@rzrealty.com) or Kathy Elliott (KElliott@columbusrealtors.com) and we will present the idea to our committee.
If you have interest in joining our committee please contact us as well. Our committee, in my opinion, has some of the BEST commercial practitioners in the business. Their insight to detail and commitment to the Board is outstanding. Without the commitment of these volunteers, none of these forms would exist. So I thank each and every individual that has helped and has taken part on this committee.
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