What agreement do I need to sell commercial property for a seller?
Full Question:
Answer:
A real estate broker offers services as agent in matters involving the sale, purchase, rental, and financing of real property. The terms of the brokerage agreement determine the character of the services to be rendered as well as the broker's right to compensation in particular circumstances. In some cases, disclosures may be required to be made, depending on the state law that applies.
A listing agent is an agent of the seller who markets the seller's property and represents the seller during the sale and the closing of the seller's property. In a sale by auction, he or she handles many of the traditional real estate functions and shares the commission based on the amount of involvement and the relationship defined by the two parties.
An exclusive buyers agency agreement will specify that the buyers agent is going to be paid a commission and that if you do not pay then the buyer may have to pay. An exclusive agency listing is a real estate contract whereby the owner of a property appoints a single real estate broker as his or her exclusive agent.
Under this type of listing, the seller can only list the property with one broker until the listing expires or the property is sold. An exclusive agency listing only guarantees a broker commission if the listed property sells through a real estate agent or real estate company. However, if the owner of the home finds a willing buyer without the assistance of a broker, the broker will not be eligible for any commission.
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