If you decide to terminate the agency contract, first ask your lawyer for advice. They must inform the Agency and the notice period should be indicated in the general agency contract. The notice period is in place to allow the Agency to conclude any introductions before the termination of the contract. If the parties to a single representation contract referred to in paragraph 1 agree in writing to renew the single representation contract, the signing of the extension contract for the purposes of this Subsection shall be considered as the signing of a new single representation contract. Without communication by e-mail or SMS, or confirmation from a buyer, it is very difficult to prove. In this knowledge, brokers are now encouraged by the real estate authority to include a vague instrumentality clause in agency contracts. This clause generally states that when a buyer buys a property during or at some point after an agency (usually 6 months), the agent is entitled to receive his commission if the agent has been decisive in one way or another. You should recommend that the seller seek his own legal advice and give him a reasonable period of time before signing the agency contract. From the date the agency contract is signed, there must be a fixed date or schedule to tell you the date the contract expires. The agreement must also specify the circumstances in which you may have to pay a commission after the end of the agreement. When selling a home, it is important to understand the pros and cons of individual or general agency contracts so that you can make an informed decision. However, if you carry out work leading to the sale of the property before the termination of the contract, the terms of the agency contract are legally binding. You may be contacted by a service provider who wants to sign an agency contract with you, even though they have an existing single representation contract with another agency.
We advise you not to accept this supplier as a customer until their contract ends. You should also warn them that if you terminate the agency contract with you and then sell it privately to someone you introduce, they may still be required to pay a commission. The single, unhindered representation period of 90 days is intended to protect agents. From the perspective of the real estate industry, it is right for the broker to receive the agreed commission if they use their resources, network and links to market a property and find a suitable buyer for a particular property….