Listing—Your Contract with your Agent
If you sell with an agent there is an earlier 2nd very important contract you enter into, before your contract to sell the property to your buyer. This is the agency contract. This is the most important to your agent because once signed, about 90% of properties offered for sale do eventually sell
It is common for some agents’ business to be concentrated more on obtaining listings and selling off those listings (commonly for about 40% of the agency commission) to other agents for those other agents then to find buyers. That this exists should emphasise to you to assess the relative importance to agents of obtaining your listing relative to the importance of obtaining as high as possible a price for …show more content…
So you are wise to carefully consider signing any agency agreement where you have to pay agent’s commission even where you or any other agent finds your …show more content…
You are always free to negotiate reductions and changes before you sign any agency agreement. Nor have the amount of commission or selling expenses ever been set by law
Remember that your agent’s commission is substantial and it is in your interests to have your agent absorb as much as possible of the marketing expenses. You are also free to negotiate a lower commission than the standard rate and free to negotiate written instructions different from the standard form, eg. who pays for advertising, signboard or other selling expenses and the length of the agency. An exclusive agency will often be presented to you for a 3 month period. However it is common and reasonable for sellers to reduce this to only 1 month, before signing
Your agent normally takes their commission out of the 10% deposit paid by your buyer to them on exchange
Preparing Your Selling Contract Ready for
If you sell with an agent there is an earlier 2nd very important contract you enter into, before your contract to sell the property to your buyer. This is the agency contract. This is the most important to your agent because once signed, about 90% of properties offered for sale do eventually sell
It is common for some agents’ business to be concentrated more on obtaining listings and selling off those listings (commonly for about 40% of the agency commission) to other agents for those other agents then to find buyers. That this exists should emphasise to you to assess the relative importance to agents of obtaining your listing relative to the importance of obtaining as high as possible a price for …show more content…
So you are wise to carefully consider signing any agency agreement where you have to pay agent’s commission even where you or any other agent finds your …show more content…
You are always free to negotiate reductions and changes before you sign any agency agreement. Nor have the amount of commission or selling expenses ever been set by law
Remember that your agent’s commission is substantial and it is in your interests to have your agent absorb as much as possible of the marketing expenses. You are also free to negotiate a lower commission than the standard rate and free to negotiate written instructions different from the standard form, eg. who pays for advertising, signboard or other selling expenses and the length of the agency. An exclusive agency will often be presented to you for a 3 month period. However it is common and reasonable for sellers to reduce this to only 1 month, before signing
Your agent normally takes their commission out of the 10% deposit paid by your buyer to them on exchange
Preparing Your Selling Contract Ready for