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CENTEX HOMES
COOPERATING BROKER POLICIES

Broker cooperation is offered in this community by Centex Homes ("Seller") through its agent Centex Homes Realty Company.  Seller will pay a commission to an outside broker only if such broker or agent (a “broker”) accompanies Prospective Buyer on Prospective Buyer‘s first visit to the sales office or models. To qualify for a commission, the outside broker must strictly comply with Seller’s Cooperating Broker Policies and must be a duly licensed broker or agent engaged full time in the business of selling residential real estate.

A broker must personally register his Prospective Buyer at each Neighborhood sales office of Seller.
Sales Agents shall register every Prospective Buyer and indicate on the Registration Form whether or not a broker accompanied Prospective Buyer.  Seller will not pay any commission to a broker if Prospective Buyer is registered without a broker.

Each registration is valid for thirty (30) days commencing on the date the Registration Form is received in the Sales Office.  A registration may be extended in thirty (30) day increments only if the broker extends the registration during a personal visit to the Sales Office. If the commission rate in the applicable Neighborhood changes during a period of registration, any extension shall be at the new commission rate.

If Seller terminates broker cooperation in a Neighborhood, existing registrations will be honored in accordance with their terms, and no registration extensions will be granted after the date of termination.  No commission shall be payable if the registration has expired.

If a broker registers a Prospective Buyer and Seller subsequently determines that Prospective Buyer had visited the Sales Office prior to the date of such broker’s registration, such broker’s registration shall be null and void and of no effect.

Commissions will be paid on the base purchase price of the Residence less any Seller concessions or incentives for such Residence.  Upgrades and options installed by Seller or selected by Prospective Buyer and lot premiums shall not be included in the purchase price upon which the commission is based.  If the Residence is listed on a Multiple Listing Service (MLS) or all interior selections have been selected, the commission will be based upon the net sales price (List Price less Seller concessions / incentives) or a lump sum as indicated in the published listing.

Any change in the sales price (reduction or increase) or incentive structure of any Residence based upon the fact that there is or is not a cooperating broker participating in the transaction must be fully disclosed to Prospective Buyer.

In the event of multiple broker registrations or if more than one broker claims the commission, Seller will not make a determination as to which broker is entitled to the commission and escrow holder will be instructed to retain the commission in escrow until settlement or final determination as to the broker entitled to the commission.  The brokers shall resolve the dispute amicably between themselves.  If the brokers are unable to amicably resolve the dispute, they shall submit the matter to arbitration in accordance with the rules of the local Association of Realtors.  Any payment of commission when more than one broker is registered or is claiming payment will be contingent upon a release by all brokers claiming a commission of any additional claims against Seller for commissions or fees. 

The cooperating broker is an agent for Prospective Buyer exclusively and must sign the agency confirmation acknowledging such relationship as provided by law prior to Prospective Buyer’s execution of the Purchase Agreement.  Any agreement between a Prospective Buyer and his broker does not bind Seller.

Only forms approved by Seller will be used in the purchase transaction.  Seller’s agent will complete the offer for presentation to Seller.  A broker shall not be entitled to be present at the submittal of the offer to Seller.

The offer of cooperation may be withdrawn at any time from any broker if Seller determines that cooperation with a specific broker is not in Seller's best interest.