2. BROKERAGE FEE. (Incentive to Agents) A Buyer Agent Commission is not required to list Property, but is recommended as Incentive to Utah Licensed MLS Member Agents. Real Estate Commissions are negotiable and are not established by law. If, during the Listing Period, If any party locates a party who is ready, willing and able to buy, lease or exchange (collectively "acquire") the Property, or any part thereof, at the listing price and terms stated on the Data Form, or any other price and terms to which the Seller may agree in writing, the Seller agrees to pay through Company a Buyer Agent Commission (the �BAC�) in the amount of $_________ or ____ % Percent of such acquisition price. A Lease contract shall be based on lease term with 12 month minimum term. This amount will be offered over the selected MLS system/s as incentive to Utah Licensed MLS Member Agents; an additional one half percent (�%) will be added to this amount and retained by the Company for Seller�s Agent Incentive and for Brokerages Liability of offering the BAC. If there is No Buyer Agent Commission noted herein, the Company will offer over the MLS a BAC in the amount of $1 as a minimum requirement for posting the listing to the MLS.
2.1 UNREPRESENTED BUYERS: It is EXPRESSLY UNDERSTOOD and AGREED, if an Unrepresented Buyer (the �Buyer�) is identified by the Company, The Company may refer the Buyer to the Seller and the Seller will introduce (present / show) the property to the Buyer. As a condition of closing, and in lieu of any Brokerage Fee noted above, the Seller agrees to pay to the Company a One and One Half Percent (1.5%) �Referral Fee� based on the agreed acquisition price. If an Unrepresented Buyer is located by the Seller prior to (see excluded parties addenda) or after the listing is posted, the Seller may introduce the Property to the Buyer and then refer the Buyer to the Seller�s Agent for a One Percent (1%) �Referral Fee�. (See 5.2 below). Upon referral, the Seller�s Agent will assist the Buyer and Seller as a Limited Agent or In-House Sale. An Unrepresented Buyer identified by the Seller that is not referred to the Company, shall be required to sign an �Unrepresented Buyers Disclosure� for a waiver of any BAC portion offered to Buyer Agents. For any Unrepresented Buyer, located by Seller that is not referred to the Company, a minimum amount of One Half Percent (�%) of the acquisition price will be due to the Company from Seller at closing.
*As required by all Utah Licensed MLS Member Agents, the Seller shall inquire of a Buyers Representation Status at introduction. If the Buyer seeks representation from another MLS member Brokerage in the acquisition of the property, the BAC if offered over the MLS will be due to that MLS Member Brokerage as per section 2.0 above. If Buyer seeks representation from a Non MLS Brokerage the incentive shall be at the discretion of the Listing Brokerage. It is expressly understood by the Seller, if the Seller�s Agent is required to present / show the property to a Buyer, any Brokerage Fee contracted above will be due in full to the Company.
2.2 SETTLEMENT / CLOSING: The Brokerage Fee, unless otherwise agreed in writing by the Seller and the Company, shall be due and payable from the Seller's proceeds on: (a) If a PURCHASE, the date of recording of the Closing documents for the acquisition of the Property; (b) If a LEASE, the effective date of the lease; and (c) if an option, the date the option agreement is signed. If within the Listing Period, or any extension of the Listing Period, the Property is withdrawn from sale, transferred, conveyed, leased, rented, or made unmarketable by a voluntary act of Seller, without the written consent of the Company; (see 18. below), or if the sale is prevented by default of the Seller, the Brokerage Fee shall be immediately due and payable to the Company. The Company is authorized to share the Brokerage Fee with another brokerage participating in any transaction arising out of this Listing Agreement.
2.3. TRANSACTION FEE. For All Listing Plans, A Company transaction fee in the amount of $95.00 will be due from Sellers proceeds at closing or lease/rental signing, payable to the Company for, documentation, confirmation, posting of data to the MLS and 3 year file documentation required by the Utah Division of Real Estate.