Rei Agency Agreement

Residential and rural agency contracts must contain a declaration of cooling-off period in the immediate vicinity of the place where the seller signs the contract. The declaration shall specify the duration of the reflection period during which the contract may be terminated. The cooling-off period is until 5 p.m. on the following business day or Saturday. The cooling-off period can only be waived if the agent has sent you at least one working day before signing the agency contract the following documents: for example, on Thursday morning, the agent gives you a copy of the signed agreement and this information sheet that you read and review carefully. On Friday afternoon, sign the agency contract and waiver form. The agency contract becomes immediately mandatory and the agent can start selling your home. Order NSW real estate forms and agreements printed online The broker may ask you to pay for advertisements, auctioneer fees, cleaning, decoration or landscaping, if this is stipulated in the agreement. You have the right to negotiate the terms of the contract and to demand changes permitted by law. Changes to the agreement must be signed by all parties unless the agent revises its estimated sale price for your property. The agency contract can be either permanent or for a fixed period (a fixed duration).

You can send it to the agent in person, transmit it or leave it in the agent`s office or at the address of the agency contract, by e-mail or fax. Be sure to keep a copy of your file. You can negotiate with the agent the amount of commissions, fees or other expenses you may have to pay. Before signing an agreement, it`s a good idea to talk to some agents to compare prices. Ask each agent for a printed list of their fees and commissions and the expenses they have calculated. If you decide to terminate the contract during the reflection period (or to « resign »), you must send a « declaration of resignation » to the agent. If you are not satisfied with the services of an agent, it is important to properly terminate your agreement with them before registering with another agent. Otherwise, both agents may charge you a commission when selling the property.

The agency contract becomes mandatory if the contracting entity (i.e. you signed as the owner [seller/seller] of the property or someone who is acting legally for you) and the agent signed it. There is then a one-business day cooling-off period during which you can terminate (or « revoke » the agreement). Saturday is included for reflection time, but not on public holidays. Before you can market your property, the broker must sign a contract with you called an agency contract. An agency contract is a legally binding contract and it is important that you read and understand it.. . .