Elliott –
I have a Business broker I work with and we co-broker listings a lot.
He is not a R/E Licensed Broker-he sells Businesses.
He got a listing and told me the seller also has property he wants to sell with the business. Since he is not licensed so he can not sell property – but I can.
We met the seller and we listed together under my listing agreement and I am only Broker advertising this.
When we get into a contract of sale – (ex. value is 10,000), do we put THE OTHER BROKER-commission for the business – (5,000)?
I will put in the commission for the property and building-(5,000). Both are fairly close in value? Or how else can this be legally be handled?
Thank you in advance for your help.
Ask Elliott 72: Contracts for Business and Building sold together
Elliott will answer any questions that you may have about the laws, rules or code of ethics. He never will divulge specifics of your name or company. Some questions will be posted here. Email your questions to askelliott@caplanschool.com.
