Information provided by Solvia

Trusting in the sale of a property to a real estate agent carries the signing of a contract in which the conditions, rights and obligations that allow the purchase and sale are formalized satisfactorily are established.

Having a real estate agent when it comes to selling a home brings a number of advantages. In addition to accompanying the client at all times offering a personalized and expert treatment, an advisor can also help to collect registration documents and manage the red tape to complete the process of purchase and sale.

But to entrust the sale of a house to an intermediary requires a private contract – called a custom sheet – which establishes the basis of the relationship between the agent and the owner. This contract includes the obligations and lines of action of both parts and also the fees that the seller must pay when the sale is formalized. Real estate brokerage contracts usually include the following sections:

– Identification of the owner of the property and of the intermediary – real estate agent or agent of the property, who will be in charge of managing its commercialization.

– Identification of the house together with all its registration data. For this purpose, the owner must provide the intermediary with all the documentation related to the legal situation of the property. This person can take care of the procedures to obtain this information before signing the contract.

– The conditions under which the intermediary takes over the commercialization of housing. This section refers to the commitment to present potential buyers and take care of the formalization of the contract of sale.

– The sale price of the house and the authorization of the owners so that the intermediary receives on account amounts in the form of reservation, payment and sign or deposit.

– The contract must include the express authorization of the owners, protected by the Data Protection Law, for the intermediary to photograph and advertise the dwelling.

– Duration of the commercial relationship (usually 6 months) and the conditions of renewal or cessation.

– Agency fees. The amount received by the intermediary for the management of the sale varies depending on the province or locality, but usually ranges from 3% to 7% over the sale price of the property. To this percentage, which must be reflected in the contract, VAT must be added. The contract also reflects the timing and how the commission will be paid.

– In the custom sheet should clearly appear if the marketing efforts are exclusively or if on the contrary the sale of the property will be managed through more than one intermediary. Owners can opt for one option or another.

– The delivery of the owner’s keys to the agent so that he can visit the house with potential buyers, must also be collected in writing and in an annex to the real estate brokerage contract.