NAC645.026. “Exclusive buyer’s brokerage agreement” defined.

Latest version.

“Exclusive buyer’s brokerage agreement” means an agreement between a broker and a purchaser or tenant that:

     1. Meets the requirements of NRS 645.320;

     2. Grants the broker the exclusive right to represent the purchaser or tenant in the purchase or lease of any property; and

     3. Provides the broker with the expectation of receiving compensation in accordance with the terms specified in the exclusive buyer’s brokerage agreement or if any property is purchased or leased by the purchaser or tenant during the term of the exclusive buyer’s brokerage agreement, unless the property is specifically exempted in the exclusive buyer’s brokerage agreement.

(Added to NAC by Real Estate Comm’n by R165-07, eff. 4-17-2008)

                    
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