15. Dezember 2020
Real Estate Agency Agreement
You must warn the seller that he may pay two commissions if the buyer has been introduced by another agent or if he has an existing agency agreement that has not been terminated. A compulsory brokerage contract is more than just a commission contract. This is a mandatory contract between you and your real estate agency/agent for the execution of estate agency work. Some individual agency contracts become general agency contracts in the event of termination – which means you must also terminate the general agency contract if you no longer want to work with the Agency. You should also warn them that if they terminate the agency contract with you and then sell it privately to someone you have introduced, they may still be required to pay a commission. If you are not satisfied with the services of an agent, it is important to terminate your contract with them correctly before registering with another agent. Otherwise, both agents can charge you a commission if the property is sold. It is advisable to sign the agreement with your real estate agent if you have decided to take charge of his services. You have the right to negotiate the terms of the contract and to demand changes authorized by law. Changes to the agreement must be signed by all parties, unless the agent reviews the estimated sale price of your property. A single agency agreement looks like an exclusive agency agreement.
You give a broker the rights to sell the property, but you can find a buyer yourself. If you find a buyer who has not been introduced by the agent, there is no commission to pay to the agent. In the event of non-application or illegal provisions of this agreement, the parties will cooperate to agree on a similar applicable clause. If the customer has signed the agreement after an unsolicited approach on your part, he can terminate the contract within 5 business days from the receipt of a copy of the contract. In this case, cancellation is not required in writing. While the layout and content of agency agreements may vary from agency to agency, all agency agreements should include the following. There must be a specific date or timetable from the date the agency contract is signed to tell you when the agreement expires. The agreement must also indicate under what circumstances you must pay commissions after the agreement is concluded. The agency contract becomes mandatory when the contracting entity (i.e.: You as the owner/seller of the property or someone who acts legally for you) and the agent have signed it. There is then a one-day cooling-off period during which you can terminate (or „revoke“) the contract.
Saturday is included for the purposes of the cooling-off period, but not on public holidays. If you sign a single agency contract, there are certain things to keep in mind: your realtor must inform you of the discounts, commissions or discounts they receive in connection with any work they do for you. The agent cannot charge you any fees or fees related to an agreement that has been duly revoked. All the money you have already paid to the agent must be refunded to you. Real estate agencies can use standard clauses in their agency contracts. These REA-approved clauses protect you: do not compromise your relationship with the current listing agency – do not make negative comments about how the property was listed or on the listing agent. If an agency agreement is terminated, you must tell the seller the names of all potential buyers you have submitted to the property and inform the seller that if one of these potential buyers buys the property, it may entitle you to a commission.