3 Common Mistakes That Are Made When Completing A Selling Agency Agreement

As soon as the agency agreement has been signed by both the client and the licensee, the law requires that a copy of the executed contract be sent to the client within 48 hours of signing the agreement. The broker may ask you to pay for advertising, auction fees, cleaning, decoration or landscaping, if stipulated in the agreement. Never let an agent use a bad low price to “bait” buyers. If you use a price range or a “negotiation” guide or strategy, you encourage buyers to offer you less. Your “bait” price will “hook” you more than the buyers! Of course, a lower price “bait” can attract more buyers, but it attracts bad buyers! The lowest price buyers see will be the highest price they want to pay. And never tell someone the lowest price you will accept, because that too can quickly become the highest price you will receive. You can negotiate with the agent the amount of commissions, fees or other expenses you may have to pay. Before signing an agreement, it`s a good idea to talk to a few agents to compare prices. Ask each agent to have a printed list of their fees and the commissions and fees they charge. Greg: Nothing has been done by the courts yet, which is a precedent.

My legal design and a better opinion would be a small mistake if, for example, the agent does not put what his recommended form of sale is, perhaps the license number is wrong. Maybe! Another, I think it would not affect the agency agreement if they forget to enter the details of the lawyer, or they are not aware of the lawyer at the time of the conclusion of the agreement. But until we have to go to court and fight one of these issues, the best perspective is always to fulfill the agency agreement. Don`t leave space, make sure you fill it properly. Be careful. Buyers that you refuse when your home is placed for sale for the first time may be buyers who are willing to pay the best price. The number of buyers for your home is generally lower, not higher, over time. And your price is often lower. I tell my buyers that I won`t waste my time, their agents or others with rediculous Low Ball offers. I refuse to write it down.

Be very careful not to choose the agent who will tell you the biggest lie about the sale price of your property. This is called “buying your business.” Also be careful with agents trying to talk to you at auction by telling incredible price stories. It`s a common trick. If you choose an agent based on the sale price they quote you, you may be very disappointed. If you suspect that an agent is trying to buy your business with an overstated estimate of the selling price, you insist on giving you their estimate in writing. Also insist that they don`t charge you anything if they sell for less than the price they estimated. This will identify the agents that seduce you with false quotes. Similarly, agents should not be tempted to make false or misleading statements to customers about the estimated actual sale price of a property. This requirement carries a maximum penalty of 200 penalty units (currently $22,000).

Note that if a complaint is filed against an agent, the agent may be required to provide proof of the relevance of an estimated selling price. Failure to establish sufficient evidence within the time frame of compliance is a criminal offence and may be punishable by a fine of 200 criminal units.