Real estate brokerage contract. What does it consist of?

Real estate brokerage contract. What does it consist of?

When a property sales transaction is handled the buyer has two options, make the whole process itself or turn to a professional who knows the real estate market and can provide legal advice to help ensure a good acquisition.

Nowadays with so many websites where properties for sale are published, anyone can buy a property without having the intervention of a third party. But there remains the possibility of hiring an agent to serve as a mediator part between buyer and seller.

The real estate brokerage contract and its benefits

For this type of negotiations there is real estate brokerage contract by which a person handles the sales transaction of a property to a third person with certain conditions set previously. In other words, the person in charge (professional intermediary) aims to speed up and make easier contact between a buyer and a seller for the sales transaction can be carried out successfully.

If a person decides to hire an agent to take charge of the sale of a property is highly advisable to sign a custom form in which are clearly established all conditions of the contract to be signed, this in order to avoid later claims on the order received.

The content of the contract shall include the identification of the two parties, specifying the reason for the contract either buy or sell a property, the agreed time to carry out this operation and the agent commission, it is also appropriate to add a clause in which it is established if the agent is the only person authorized (exclusivity) to be the intermediary in the sales transaction.

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