𝐌𝐮𝐬𝐭 𝐲𝐨𝐮 𝐩𝐚𝐲 𝐭𝐡𝐞 𝐞𝐬𝐭𝐚𝐭𝐞 𝐚𝐠𝐞𝐧𝐭 𝐢𝐟 𝐭𝐡𝐞𝐫𝐞 𝐢𝐬 𝐧𝐨 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭? When buying or selling a property, estate agents play a crucial role in facilitating the process. But what happens when there is no explicit agreement regarding the estate agent's commission? Is it still payable? In most jurisdictions, the general rule is that an estate agent's commission is only payable if there is a valid agreement in place. This agreement can be in the form of a written contract or verbal understanding. Without an agreement, however, the agent's commission may not be enforceable. 𝐑𝐄𝐀𝐃 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞: https://lnkd.in/dwCX7G4t 𝐖𝐫𝐢𝐭𝐭𝐞𝐧 𝐛𝐲: Natalie Steenkamp #yourpersonaladvisors #phthoughtleader #yournewbreedlawfirm #estateagents #estateagency #estate #property
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Starting August 1, there will be mandatory changes in real estate regulations. One of the new rules requires that a Buyer must have a written agreement with their agent before viewing a property. While I've been using these agreements for some time, this document outlines how representation works, including details on compensation. As always, I'm available to answer any questions. #leeanncohomes #albuquerquerealestate #albuquerquerealtor #albuquerquerealestateagent #buyerbrokeragreement
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💼 Thinking about buying or selling property? There's a lot more to it than just the price tag—conveyancing fees play a key role in making sure everything runs smoothly. But what exactly do conveyancers do? 🔗 Read our latest blog to learn more: https://lnkd.in/dG5SFWTU #property #propertyadvice #property101 #realestate #realestateadvice #realestate101 #conveyancing
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Navigating real estate transactions can be complex, and the relationship with your realtor is a key component of the process. Here's why staying loyal to your realtor, under the terms of your legal agreements, is crucial: Binding Contracts: Listing agreements and buyer representation agreements are not just formalities; they are legally binding contracts that outline the rights and responsibilities of both you and your agent. Breach of Contract: If you decide to work with another broker while still under contract with your original agent, you're not only breaking trust but potentially breaching your contract. Financial Consequences: Should you buy a property through another agent during this period, your original agent has the right to pursue compensation for the commission they would have earned. This could mean paying out of pocket for their commission on top of what you pay for your new home. Maintaining loyalty to your broker is not just about ethics; it's also about protecting yourself from potential legal and financial repercussions. Drop us a follow for more tips. #realestate #gtarealtor #torontorealestate #dreamhome #condo #house #lease #investment #preconstruction #assignment #resale
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Real Estate Broker at Coldwell Banker Bain | WA. State Licensed provider of appraisal services | Business Development Professional | Technical Sales | Application Engineer in Marine Industry
Take a look at this real estate insight... Considering selling your house on your own? Here’s why teaming up with an agent can make the process smoother. An agent knows the local market and how to set a competitive price that draws in buyers. An agent will handle all the legal documents and ensure accuracy, reducing risks and delays. Remember, a pro by your side can save you time, stress, and potential pitfalls. #FSBO #realestatetips
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Considering selling your house on your own? Here’s why teaming up with an agent can make the process smoother. An agent knows the local market and how to set a competitive price that draws in buyers. An agent will handle all the legal documents and ensure accuracy, reducing risks and delays. Remember, a pro by your side can save you time, stress, and potential pitfalls. #FSBO #realestatetips Message us today for a real estate consultation
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Why an Oral Estate Agency Mandate Isn’t Worth the Paper It’s Written On Read more: https://buff.ly/4bXLPnP Perhaps you are a seller marketing your property through an estate agency, or a buyer asking an agent to find you one, or a landlord employing an agent to let out your property. Whatever the transaction involved, make sure that the agency mandate is in writing.
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You gotta sign the Buyer-Broker Agreement! We'll help you understand it and make sure we're following the law every step of the way. Buying a home isn't complicated when you work with experts like us! #realestate #buyingahome #buyerbrokeragreement #howtobuyahouse #realestateexpert #WestUSARealty #MyAzRealtyTeam
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Stay current with the news! Considering selling your house on your own? Here’s why teaming up with an agent can make the process smoother. An agent knows the local market and how to set a competitive price that draws in buyers. An agent will handle all the legal documents and ensure accuracy, reducing risks and delays. Remember, a pro by your side can save you time, stress, and potential pitfalls. #FSBO #realestatetips Let's talk real estate!
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MKARSTEL ATTORNEYS: FAMILY, COMMERCIAL, MUNICIPAL & CIVIL LAW AND LITIGATION, AVIATION, VISA APPLICATIONS & MEDIATION
Why an oral estate agency mandate isn’t worth the paper it’s written on Read more: https://buff.ly/4aXInZe Perhaps you are a seller marketing your property through an estate agency, or a buyer asking an agent to find you one, or a landlord employing an agent to let out your property. Whatever the transaction involved, make sure that the agency mandate is in writing.
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An agent cannot say whatever they want regarding a property. Agents must stick to strict guidelines regarding properties they are trying to sell. https://lnkd.in/gf8wRfg7 #drizinlaw #lasvegaslawyer #probateattorney #realestateattorney #drizinlawpracticepointer
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