Sole Agent For
Description
How to fill out Contract To Be Exclusive Agent Or Realtor For Buyer And To Charge Fixed Rate Of Commission In A Real Estate Transaction?
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FAQ
Examples of Sole agent A real estate broker or agent who has exclusive rights to market and sell a property in a specific area. A custom broker who has exclusive rights to clear goods through customs on behalf of a particular company or individual.
A sole agency agreement is one type of estate agent where just one estate agent is chosen to sell a property. The estate agent works exclusively during the contract term and is entitled to a fee if they introduce a buyer who successfully purchases the property.
Under a sole agency agreement, you will appoint one agent, for an agreed period of time, to sell your property. The agent will only earn a fee or commission on the basis that they find a buyer in this period and the buyer completes the transaction.
Sellers will have a right to cancel their sole agency agreement within 14 days of signing the calendar. If you wish to terminate your sole agency agreement after this 14-day grace period, you will have to check the terms of your contract. It may be that you will have to pay an early cancellation fee.
Sole agency is where one agent has exclusive marketing rights of the property. The benefits of going with a sole agent are lower commission fees and a more fluid and concentrated marketing campaign. Downsides may include less market coverage and the potential for a sole agent to become a little complacent.