The broker should try to obtain an exclusive right to sell the property. This means that regardless of how the property is sold during the reference period, the broker is entitled to a commission. Each real estate agent calculates their own prices, although the industry standard is to calculate between 4 and 6% of total rent. 50% of the fees are paid during the execution of the rental contract and the other 50% for the occupation of the tenant. So, if a 5-year lease is $1,000 per month, the fee for the agent is $2,500 ($50,000 multiplied by 5% = $2500). Getting an exclusive right to sell is always a challenge, no matter how experienced the agent is in their abilities. Often, the agent must show the owner “additional value” to earn their right to a commission, regardless of how the property is sold. All sellers who participate in this agreement must provide a mandatory signature, but if there is only one seller, only the first signature area must be completed. The seller must sign the “Seller`s Signature” line and then print their name on the space below. Once the seller has given a signature and a printed name, he must enter the current date as the date of signature of this agreement. The broker must sign his name in the empty field called “Broker`s Signature”. The broker must print his name in the “Print Name” line under the indicated signature.
If the broker works on behalf of an agency, note the full name of the agency in the last empty row in this column. Once completed, the broker must indicate the date of his signature in the line called “date”. Although an owner may still be required to pay a commission, even without the hiring of a listing agent, if the buyer has engaged representation.