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Legal Advice

Real Estate Agents

Since you’re totally in the dark regarding the ultimate price at which your agent will close the deal on your behalf, if is very important to consider other aspects apart from what you’d pay him. You’d be better off paying $10,000 to an agent who’s able to strike a bargain deal that results in a good profit rather than pay $4,000 for underselling the same. You should be able to ferret out information regarding the viability of his previous deals. You should find about his marketing networking and the number of years he has been on the job. Deal with professionals.

Real Estate Agents Costs

The issue of commission that is payable to a real estate broker is quite a controversial issue. Every agent expects a sound commission for his hard work. And buying or selling a property is certainly not a cakewalk. The agent has to keep his nose to the grindstone before he can come close to sniffing a deal. But what constitutes a sound commission is purely a subjective matter. With Real estate agents you can be assured that the cost of hiring them is worth your money and time.

Therefore, you should compare the cost components that are included in the commission of different real estate agents so that you have a reasonable idea of the heads that are taken into consideration for final commission calculation. The agent’s commission usually comprises components that can be broadly categorised into cost that is usually kept by the agent himself and the overheads involved with canvassing the property.

 

Non Exclusive Right

The non exclusive representation right outlines the obligations and duties of the real estate agent services or the broker to the home buyer, buyer obligations, broker’s scope of duty and agency relationships. It also includes compensation in the sense that if the broker/agent’s commission is paid for by the seller, the buyer will not be held liable.

Under this contract, the buyer can employ another agent or broker and purchase property through him. Other clauses remain the same as in exclusive representation right stated in the previous paragraph.

Know if your rights are protected, seek legal advice.

Non Exclusive Buyer Broker Agreement

This is a no compensation agreement which means the buyer cannot be held liable for paying the brokerage commission. The home buyer has the right to employ several Real estate agents services or brokers for locating property. He can also demand the right to single agency. This contract will outline buyer obligations, scope of duty for the broker, agency relationships and the agent/broker’s obligations and duties towards the home buyer.

For more information you can consult Mortgages Adelaide.

 

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