broker to broker commission agreement
the registration agreement between brokers (txr 2402) can be used to share or split a fee or commission when the property is not listed in an mls and thus would not be subject to an unconditional offer to pay a commission. the form includes instructions about when to pay the cooperating broker fee, and how much to pay. the listing/principal broker is not obligated to pay the cooperating broker until the fee is earned, meaning when the prospect (or a related party) has entered into a binding agreement to buy or lease all or part of the property at any price. this is one of more than 130 forms exclusively available to texas realtors®.