Please note that PropNex Realty is a real estate agency registered by GST and is authorized to calculate and recover GST. Please check with your seller if the GST payable is included in the amount of the commission specified in the agreement. When participating in a seller, it is recommended that consumers use the agreement on the compulsory real estate agency, as it protects the interests of both parties. The amount or rate of the agreed commission must be registered and a copy of the agreement must be given to you. If you and the seller wish to include consensual terms and conditions that are not in the mandatory brokerage contract, these additional conditions must be added in the space provided or on a separate sheet of pink paper. The additional conditions cannot conflict with or deviate from the conditions prescribed on paper. If you have chosen to hire a real estate agent to facilitate your rental transaction, use one of the real estate agency agreements prescribed by LEA to formalize your contract with the broker. The contract serves as a mandatory contract between you and the real estate agency for the execution of succession agency work. The agreement contains different scenarios as to when the commissions are due. For example, it says that you are not obliged to pay commissions to the Agency if the transaction fails without fault on your part. You can also indicate if you are required to pay additional commissions to the Agency if the lease is renewed.
Use the required brokerage agreement if you hire an agent After negotiating the commission amount with the agent, you document this in the agreement. You should also check whether GST is included in the commission amount. Remember that you should pay the agency, not the agent. The seller should not act against his duty as a trustee to his client. All PropNex sellers MUST always co-broke with each transaction. The allocation of commissions is negotiated and agreed between the parties. An agreement with Broke MUST be submitted when the transaction is filed. The Agency may request, in advance agreement with the customer, payments for expenses such as long-distance calls (for foreign customers), postage and stationery fees, transportation costs, etc.
In accordance with advertising obligations, real estate agents must indicate the exact nature of conflicts of interest. In addition, it is found that the agent only represents the client after the written agreement of the client in the event of a conflict of interest after the execution of an agreement. Note: There are two types of agreements: exclusive and non-exclusive. You can choose the type of agreement based on your needs and preferences. The Commission is due immediately after the execution of the tenancy agreement by the landlord and the tenant. Real estate agents and their clients may soon have more ease: the CEA has now made model agreements on its website.