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Main » Articles » Real Estate » Services

Contract with realtor

As an exclusive contract customer (individual or legal entity) instructs a professional real estate market participants (agency, realtor) to sell particular property (apartments, non-residential premises) at a specified price and within the specified contract period. The notion of exclusivity implies that the seller of real property shall not apply to any other intermediary to sell the property or to sell real estate yourself.
Therefore a prerequisite of the exclusive contract is that the client is obliged to leave the custody of the agency or realtors original title documents for real estate. Ideally, this condition should ensure the exclusivity of the contract. However, in practice, many contracts with the realtor organizations that contain a specified condition, the provisions on the transfer of title documents are formulated so that they meet primarily the interests of the agency: the contract does not provide an inventory of original documents during their transfer, and, most importantly, the duty agency to return the documents in the case of termination of the contract unilaterally initiated by the client.
The absence of such a duty creates many problems when the client intends to unilaterally terminate the contract with a particular agency, but has no legal possibility to return the original documents belonging to him. Thus, the legal interests of the client meets the contract containing a condition that an inventory and the opportunity for a client in the case of a unilateral termination of the contract unilaterally to return the documents on demand.
Mandatory conditions are also a real estate brokerage agreement:
- The subject of the forthcoming sale (for a detailed description of the characteristics of real estate: location, size, number of rooms, ceiling height, etc.);
- The price of real estate sold (it should be necessarily specified in the contract and in any case is not a trade secret, as is sometimes hear from unscrupulous realtors);
- Obligations of parties to the treaty, as well as the definition of remuneration of Realtors (percentage, fixed amount of money) and the order of payment (deposit, advance payment, actual payment);
- The responsibility of the parties for failure to perform its obligations under the contract (advisable to include in the treaty a condition of responsibility for the delays in the contract);
- Validity of an exclusive contract;
- Force majeure (force majeure, exempting the parties from liability for nonperformance or improper performance of its obligations under an exclusive contract);
- Expenses of the parties to the transaction.
In order to interest the mediator in the sale of real estate on the highest possible price, it is recommended to include the exclusive contract the condition of the percentage - depending on the selling price - calculating the size of his compensation. The interests of customers using the services of a realtor, on the contrary, the condition is responsible for determining their value in a fixed amount.
These signs exclusive real estate brokerage agreement gives reason to believe that its legal nature, it is a contract not covered by civil law. Because forth in Section 2, Article. 421 of the Civil Code of the principle of freedom of contract, the parties may conclude as prescribed and not prescribed by law or other legal acts of the contract. On the basis of paragraph 3 of Art. 421 of the Civil Code the parties may conclude a contract, which contains elements of various types of contracts, under rules of civil law (mixed agreement). At the same time to the parties according to a mixed agreement applies in the relevant parts of the rules of the Civil Code on contracts whose elements are contained in a mixed contract, unless otherwise stated in the agreement of the parties or there is a mixed agreement.
Analysis of the texts of a large number of exclusive real estate contracts can be concluded that by their nature, they are mostly mixed. Thus, the provisions of the exclusive contract on the organization for the customer, the process of selling off its property, the implementation of an advertising campaign, hits the real estate negotiations with potential buyers of other actions on the organization of the process of concluding the deal - this is the situation typical for the agency contract (Articles. 1005 -1011 Civil Code).
Furthermore, based on an analysis of a large number of exclusive real estate contracts, especially those that include conditions on the provision of legal and other, including consulting services, it can be argued that the contract contains provisions specific to the contract of compensated rendering of services ( Art. Art. 779-783 of the Civil Code).
If the client is in the contract instructs the agency not only organize the process of bargaining, but a sale of real estate belonging to him on his own behalf or on behalf of a client, you actually have to implement the conclusion of the transaction, the essence of the relevant rules as the rules pertaining to the agency agreement, in principle, does not change, but it should be noted that the data relations (depending on the circumstances, whether the property is sold the agent on behalf of the client or on their own behalf) pursuant to Art. 1011 Civil Code should apply to the contract of commission (Articles. 971-979) or the rules of the contract of commission (Articles. 990-1004 Civil Code).
General recommendation regarding the selection of real estate agents in the transaction involving real estate, reduced to what is necessary to rely on reliable, proven structures for a long time working on the real estate market and proven on the positive side. Turning into a serious company, able to work efficiently and protect the interests of their principals, the seller starts to use its reputation: the credibility of the firm and its reliability is in itself enough to attract a large number of customers-buyers.
The buyer, in turn, turning to a proven realtor, I am confident in the "purity" of selling real estate and correct registration of all documents. Under no circumstances is not recommended when you select the agency as the main criterion guided low commission rate, the more trust agents who claim that all the services instead of the seller to pay buyer.
An indicator of the quality of real estate services is a membership organization in the professional community of Realtors, for example in RGR or MAGR. In these self-regulating professional communities there are standards for the provision of services, as well as disciplinary procedures to ensure that ensure that the activities of members of the community accepted standards of quality.
Category: Services | Added by: Дмитрий (22.03.2010)
Views: 359 | Rating: 0.0/0

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