Real Estate Brokers

Commission Policy for Real Estate Brokers

Thank you for your interest in working with Cherokee. Cherokee recognizes the value of brokers and other intermediaries, who make introductions and otherwise facilitate deals. Our business is built on trust, and our reputation is based on decades of ethical behavior.

If you are an intermediary or broker OTHER than a real estate broker, please see our Intermediaries web page.

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This page summarizes the terms under which Cherokee or any of its affiliates can and will pay a brokerage commission to other firms or agents. It does not create a brokerage arrangement or agreement between us, and it is subject to and subordinate to the terms of any subsequent letters or agreements. This information is for reference only.

For more information regarding the criteria we use when evaluating a prospective acquisition, and how we work with brokers and intermediaries, please download "Cherokee's Acquisition Criteria."

Brokerage Commissions

Cherokee will pay commissions to procuring brokers and other intermediaries, including finders fees for introductions, to the extent permitted by law, and subject to the terms of specific agreements.

Disclosure: Some principals and/or employees of one or more Cherokee Group companies are also licensed real estate brokers or salespeople employed by Quest Commercial, Inc., a New Jersey real estate broker. In certain well-disclosed instances Cherokee may market a property via an MLS system, via Quest Commercial, our licensed brokerage affiliate. For complete licensing disclosure information, please see our Certifications page .

If you are a real estate broker, and wish to present an acquisition opportunity to Cherokee that is not your exclusive listing, please contact Jay Wolfkind, our Acquisitions Director, before submitting any information. If the opportunity has not been previously presented, and if we are not already aware of the opportunity, we will be pleased to give you a protection letter, or otherwise acknowledge your involvement as the procuring cause of a transaction.

This policy is currently in effect and will remain in effect until, or unless, it is superceded on this web site or otherwise, or superseded by law. It will apply to all brokerage firms, their agents and employees, and all others who seek compensation from Cherokee for brokerage or negotiation activities (hereinafter Brokers). This web page is intended to prevent any misunderstandings, provide guidance, and enhance communications between all parties. Cherokee is pleased to pay brokerage commissions, and we want to continue and enhance this relationship.

Cherokee has certain commission standards for brokers who make introductions or otherwise procure or actively and openly help effectuate the sale or lease of properties by Cherokee, or in some situations when properties or other assets are acquired by Cherokee.

We sometimes deviate from these standards if they are negotiated in advance, in writing, prior to any submissions or negotiations. Since a written commission agreement is normally required by state statutes we feel that this is the fairest and best policy for everyone involved in each transaction.

If there has been no written agreement reached between Cherokee and a Broker regarding the commission to be paid, prior to the negotiation of a deal, Cherokee is not obligated to pay any fee or commission.

The standard commission Cherokee will pay for sales or leases of real property varies with the type of property, the terms of the deal, the particular property, and other circumstances that are too numerous to articulate on this web page.

If more than one Broker makes a claim to any commission or transaction, and that claim has not been spelled out in a written commission agreement, or satisfactorily worked out, prior to the transaction closing Cherokee will either retain the commission in their account, or the closing agent may retain the commission in an escrow account, until such time as the dispute is resolved amongst the parties. In all cases the ultimate decision about the commission to be paid out will remain with Cherokee, but Cherokee will, in all cases, adhere as closely as possible to the full requirements of the law and standards of fair and normal practices in the community.

In any case, with any commission paid, WEI will not recognize Brokers or cooperating brokers simply by virtue of having a real estate license (although that is a bare minimum requirement). Brokers expecting a commission must clearly demonstrate that they have been the Procuring Cause of a transaction, by a written commission agreement.

Please notify all principals, agents, brokers, salespeople, and employees of this letter and its contents, and keep this letter on file. It will be our practice to remind Brokers from time to time, as the case may permit or require, of this policy, by handing out copies at the beginning of any potential transactions.

It will be Cherokee's continuing policy to be as cooperative as possible with brokers, and try our utmost to follow the Golden Rule in all of our dealings and negotiations in the marketplace. We look forward to the payment of many well-earned commissions to Brokers who help Cherokee's continued growth.

For further information, or to submit a proposed transaction, please contact Jay Wolfkind, our Acquisitions Director, at (732) 741-2000, or by our webform at Contact Us.

Thank you for your interest in working with Cherokee.