The most common thing to do when you decide to hire the services of a real estate agency is to sign a contract that implies exclusivity . With this agreement, the owner of the property (seller) exclusively grants the rights to sell poland telegram his property for a certain period of time to the agency in question. Like all contracts, it has a series of obligations that both parties must comply with, but what happens if the seller agrees to a sale without going through the real estate agency? Is it legal to sign an exclusivity real estate contract? Continue reading for more information .
When a contract is signed with an exclusivity clause, it means:
The seller agrees to transfer exclusivity to the real estate agency.
The agency is committed to actively promoting the properties and facilitating their sale as quickly as possible.
The seller cannot offer the property outside the real estate agency
The real estate agency will receive a commission if the property is sold.
The duration of the contract (usually one year).
The extensions of the same
Both parties know the conditions in advance.
This exclusivity agreement is not contrary to the law. The Supreme Court has already ruled on this point, stating: " the possibility of agreeing on exclusivity in mediation contracts is not contrary to the law. The exclusivity agreement is valid by virtue of the principle of freedom proclaimed by the Civil Code. This exclusivity clause is not considered an abusive clause nor does it entail the imposition of disproportionately high compensation on the consumer and user."
In fact, the High Court recognises the right to a commission during the period of exclusivity, even if the property is sold independently by the same owner.
Pros and cons of real estate exclusivity
The benefits of this type of contract are that the real estate agency undertakes to provide all its available resources to sell the property in the shortest possible time . The agency also helps the seller to define the sale price. In addition, it is responsible for managing the contracts prior to the sale, maintaining contact with the notary, obtaining the certificate of habitability and all the procedures involved in the sale of a property.
This allows the seller to relieve themselves of the workload of selling a home.
The downside is that by signing this contract, the agency becomes the only one authorized to sell the property. Therefore, even if the owner sells the property privately, the real estate agency can claim its fees. On the other hand, it must be taken into account that exclusivity contracts must have a stipulated term . But many owners do not know that the real estate exclusivity agreement has a tacit extension . Therefore, the seller must read the conditions very carefully before signing this type of clause.