This exclusive reference-listing agreement for the sale of real estate takes place on the first date below and between: Another reason why the list price must be agreed by the seller and the real estate agent, because the real estate agent makes a prior investment by the list of the house. 2.PROTECTION PERIOD – If, within 90 days of the expiry of this agreement, the property is sold, exchanged or leased to a person or party to whom the property was shown during the duration of the list, the owner agrees to pay the broker and, if so, a cooperative broker as if the broker had made the sale, exchange or lease. This usually means spending the cost of professional photography, floor plans and time showing the apartment and negotiating and coordinating with brokers and buyers. Note that most list agreements have a fee refund clause, in which the fees are reimbursed by the owner if the property is not sold. This is very important for many reasons. The main danger you need to pay attention to in a traditional New York agreement on the list of exclusive rights to sale is that your list price is too easily touched by the first buyer who sees the apartment. In this case, you may be put under pressure to accept the offer and let off steam on the commission, even if you would have obtained a higher price by staying longer in the market. No wonder traditional real estate agents like to talk about the importance of the stock market price. The lower the price, the faster they can force you to pay them their commission! If a transfer, sale or part of the property or part of it takes place or is agreed with a person during the duration of this agreement or one of its renewals, the owner agrees to pay the broker a commission equal to [% of the sale or exchange price of the property.
When a cooperating broker procures the buyer, the owner agrees to pay the cooperating broker a commission of [ % of the closing/title sale price, in addition to the broker`s compensation, a commission of % of the sale or exchange price of the property. When the broker procures the buyer, the owner agrees to pay the broker a commission of % of the sale price to the transaction/title, in addition to the broker`s compensation a commission of 1% of the sale or exchange price of the property.