Did you know that if you want to hire a Burlington, Ontario real estate agent or a realtor here in Boise, you will have to sign a contract with the agent? Many first time home buyers and sellers don't realize this, and sign their lives away without really understanding what they're agreeing to. Don't get caught out by the contract you signed. Know what it means. We can help you figure out what's going on. Just read on to find out more.
You might be wondering - why does an Oakville real estate agent need me to sign a contract in the first place? Does the fact that they want me to sign something mean they're out to swindle me? No. All reputable agents will want you to sign a contract simply because they need to protect themselves. They work on commission, which means they do all their work up front and they don't get paid until the sale is over, which makes it possible for you to stiff them.
A contract, therefore, is your promise to pay them for the work they have done. Most real estate agents will want you to agree to an exclusive contract, which means that you can't also hire another real estate agent in Caledon to compete against them to sell your home. It also means that you cannot go ahead and sell your home yourself without still paying the agent his or her commission in recognition of the work he or she has already done.
If you want to be able to run down leads on the Kitchener Waterloo real estate listings by yourself or offer your property to a relative, you can ask for a non-exclusive contract or put a clause into the exclusive contract that says your uncle Bob gets first dibs on the house at such and such a price. Contracts are not set in stone until they are signed, so feel free to negotiate with your agent over the terms.
So how do you tell whether an agent's contract to sell your houses for sale in Toronto is on the up and up? You can read it over yourself to see if anything sets off alarm bells, you can take it to your lawyer to read, or you can talk it over with the agent. If your agent will not explain the terms of the contract or does so vaguely, this is an indication he or she may be trying to put something over on you.
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