Real estate agent contract – Your decision to have your house professionally brokered is an important step towards a timely sale. After you have decided to take over the services of real estate agents, the contract is concluded.
You can choose between a simple, a sole and a qualified sole brokerage contract. If you want to remain capable of acting despite the broker’s commission and reserve the right of prior sale, you should refrain from a qualified commission and choose between the other two solutions when concluding the contract.
Content in the brokerage contract: These facts must be present
In a contract with your appointed real estate agent, all rights and obligations of both parties are explained in detail. An important contractual point is the agreed commission, which is to be paid by the buyer when selling and by the owner when renting. Other contractual contents are based on the scope of the services you want and which the estate agent undertakes to provide.
A brokerage contract becomes valid the moment it is signed by both parties. With your signature, for example, you instruct the estate agent to sell your house and to apply all the necessary measures to promote the sale. In the case of the qualified sole mandate, you further agree to the fact that you will not instruct any other estate agent and that you will not sell your property privately. In the contract, you will find out all the details and tasks that will be undertaken for the sale of the house and will be carried out by the agent himself. With brokerage contracts, the written form is necessary, so that verbally concluded agreements are invalid.
Through the binding nature of a brokerage contract, you receive the security that the commissioned broker will do everything to ensure that your home is sold in a timely manner. All figures and tasks, the commission and its due date as well as special requirements for our brokers are included in the contract. The agent will advise you before the contract is concluded and together with you will find the form of contract that best suits your requirements for the sale of your house. He will draw up the contract for you in writing, leaving you time to check the details and commission any changes.
More information on the subject of brokers:
Sell
There are various reasons that make you think about selling a property. Many of our clients already own their own house or condo when they inherit their parents’ home and don’t know what to do with the inheritance now. Are you facing this question or have another reason for selling your house? Our professional online real estate agents will assist you and help to get the best price for the property and not put a long wait on the agenda in the course of the sale. While you can sell privately if you are the sole owner, a house or apartment owned by a community of heirs presents greater challenges.
Tasks of a broker
Basically, a real estate agent fulfils all tasks that are important before and during the sales and rental phase. He creates an exposé, determines the market value of your property, advertises your property and is then the interface between you and interested parties. While the creation and publication of an advertisement is a time-consuming but unique task, answering customer enquiries is part of the daily business of an estate agent.
Here you can find more information about the tasks of a broker.
Commission for the broker – The most important regulations
More than 80 percent of all properties for sale or rent are brokered. This means that the owner commissions a real estate agent to advertise the offer and to carry out all tasks up to the conclusion of the contract on his behalf. Professional brokerage is a service that is agreed between the client and the real estate agent. After the service has been rendered, a commission, the so-called brokerage fee, is due. Who pays the commission depends on the type of commission and the reason for the commission. If you sell your property through an estate agent, the buyer usually pays. In the case of lettings, the buyer principle has applied since 2015, so that the invoice recipient and commission payer is identical to the person who has commissioned a brokerage service.
Here you can find more information about the broker commission.
