Out-of-State Broker Cooperation
Posted on April 15, 2011 by AAR
On August 25, 2004 a law allowing for an Arizona broker to cooperate with out-of-state brokers became effective. Arizona brokers may cooperate with an out-of-state broker if the brokers enter into a written agreement that includes: (a) a list of the activities to be conducted by the out-of-state broker; (b) a statement that the out-of-state broker agrees to fully comply with the laws of this state and submit to the regulatory jurisdiction of the department; and (c) a statement that the Arizona broker accepts responsibility for the acts of the out-of-state broker. However, all negotiations must be conducted through the Arizona broker. Further, the out-of-state broker may not place signs, list, market or otherwise advertise Arizona property.
AAR does not have a form that meets this criteria, but the new law clearly states what is required in such an agreement. For the full text, go to page 26 of the Senate Bill 1140
Michelle is General Counsel to the Arizona Association of REALTORS® (‘AAR”) and a State Bar of Arizona board certified real estate specialist.
Note: This information is of a general nature and may not be updated or revised for accuracy as statutory or case law changes following the date of first publication. Further, this information is not intended as definitive legal advice and you should not act upon it without seeking independent legal counsel.