If you register a written agreement for the Representation of the Agency, you can expect, as a client, that the real estate agent will provide the following services in addition to the basic obligations and obligations required by all licensees: The last part of this section refers to what I prose of section 12. This means that you owe the broker the agreed amount from above if I show you a property and you choose to deposit or have terminated an offer at the expiry of our contract. The term for this is usually 90 days and the percentage may be from the above, so you need to know it before signing the contract. If you are a home seller, sign form RE16, the “seller`s representation agreement.” This contract is sometimes referred to as the “exclusive right of representation.” You sign the agreement and your agent signs on behalf of the broker. The RE16 describes the terms of the agreement. Some of these conditions include the duration of the contract, the sale price and the financing you will accept. It also describes the fees you pay brokerage for marketing and selling the property. This kind of agreement is exclusive. A seller should never have more than one agreement to represent a property. Central Idaho Properties, LLC represents the buyer as a non-agent if we are the seller on real estate listed by another brokerage firm. IMPORTANT TIP: A customer relationship does not have the same advantage as a customer relationship. The ADB states that “the holder of a real estate license is not required to promote your best interests or keep your trading information confidential” if you are a client.
You should keep this in mind if you opt for an agency. We strongly advise you to establish a customer relationship with a representation agreement. It is this relationship that offers you the greatest protection. Some people do not want to sign a representation agreement, but the services of an agent. If you are, you sign a compensation contract and you are more customer than customer. Here too, by signing this agreement, you accept all the conditions set out in it, so make sure you understand every aspect and ask questions before you sign.