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This agreement is used to hire a broker to act as an intermediary in negotiating a contract, purchase or sale, in return for a commission. Broker agreements are often used in business transactions where specialized knowledge is required, such as real estate, finance and insurance. This template sets forth the material terms of the agreement, including the broker's responsibilities, commission payments, independent contractor status, and duration. This document should be used by brokers or any party desiring to engage the services of a broker.