estate agents cooperative (eac)

A multi listing corporation. Membership is available by invitation and potential members must be members of the Real Estate Institute (REI). Where a vendor desires to sell through multiple listing the EAC agent is appointed as exclusive agent for a specified period by the vendor. For example, 30 to 90 days.

Where the ultimate purchaser is introduced by the listing agent he/she is entitled to full commission. However, if introduced by another EAC agent he/she is a conjunction agent and therefore, entitled to a certain percentage of the total commission and the remainder going to the listing agent.