Useful Info





What is a Brokerage Agreement for sale of real estate property with exclusive rights?

When you choose a real estate agency to act as an intermediary for selling your property (or plot of land), you are setting your rights and obligations as well as those of the agency in the so called BROKERAGE AGREEMENT. If there is a clause that only that particular agency can offer your property for sale, then the brokerage contract is said to be with exclusive rights.

If you have the impression that this is somewhat limiting your rights, please have the following in mind:
    1. When a single agency offers a property it will maintain and defend its strategy and a steady price. If several agencies are presenting your offer, they will have different ideas and will have different approaches in defending your interest - thus the potential buyers will often get confused by the variety of versions of the property's offer;
    2. The exclusive rights contract binds the agency with exclusive responsibilities as well;
    3. The agency's commission in this case drops by 1/3 and instead of 3% of the price you are to pay only 2%.

The Brokerage agreement for sale with exclusive rights can save you a lot of efforts and energy, especially if you trade with a real estate agency with access to more than 90% of the buying offers at every moment.