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What are common terms and conditions for a seller agent agreement
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Common terms and conditions for a seller agent agreement include:
- Exclusive Agreement:
- Salespersons must ensure the client understands the contents before signing.
- Salespersons should not solicit a property listing currently listed exclusively with another estate agent.
- A Marketing Plan must be provided, detailing the estate agency work, including advertisements and marketing approach.
- Regular updates and feedback must be provided to the client.
- The validity period is up to a maximum of 3 months, with the possibility of renewal upon expiry.
- Salespersons must ensure the client understands the contents before signing.
- Salespersons should not solicit a property listing currently listed exclusively with another estate agent.
- A Marketing Plan must be provided, detailing the estate agency work, including advertisements and marketing approach.
- Regular updates and feedback must be provided to the client.
- The validity period is up to a maximum of 3 months, with the possibility of renewal upon expiry.
- Non-Exclusive Agreement:
- Multiple estate agents and salespersons may market the property.
- Salespersons should inform clients of the terms and conditions and services offered.
- Client's written consent is required before posting advertisements if the agreement has not been signed.
- Multiple estate agents and salespersons may market the property.
- Salespersons should inform clients of the terms and conditions and services offered.
- Client's written consent is required before posting advertisements if the agreement has not been signed.
- Expected Selling Price or Rent:
- Advise the client on the market price or rent and obtain instructions on the expected selling price or rent.
- Advise the client on the market price or rent and obtain instructions on the expected selling price or rent.
- Disclosure Requirements:
- Declare and disclose any conflict or potential conflict of interest to the client at all times.
- Declare and disclose any conflict or potential conflict of interest to the client at all times.
- Co-broking Clause:
- Explain to the seller/landlord that advertising or marketing the property on a 'no co-broke', 'already co-broke', or 'buyer only' basis is contrary to their interest.
- Explain to the seller/landlord that advertising or marketing the property on a 'no co-broke', 'already co-broke', or 'buyer only' basis is contrary to their interest.
- Additional Terms:
- Explain any additional terms clearly to the client, such as reimbursement of fees for valuation reports, advertising, or other disbursements related to the provision of estate agency work.
- Explain any additional terms clearly to the client, such as reimbursement of fees for valuation reports, advertising, or other disbursements related to the provision of estate agency work.