Property values are rising strongly, and fewer owners are selling. You would think it is a great time to be a real estate agent, right?
Yes and no. In the current market, owners are sitting tight and there isn’t much stock. The biggest battle many agents face is to secure your listing to sell.
Once listed, properties are usually selling easily, often for more than the seller expected.
In a flat market, it is the other way around: plenty of listings, not as many buyers.
When appointing a real estate agent, the appointment contract is the most crucial element. Once the contract is signed, it is too late to make any changes unless the agent agrees.
Accordingly, you need to carefully consider commission amounts, marketing expenses, and the length of the appointment before signing on the dotted line.
From a buyer’s point of view, when dealing with the seller’s agent, ensure that you are clear on the terms of the draft sale contract, so that you do not miss things such as paying the deposit on time. In a hot market, sellers have been known to get a better offer later, and to try to get out of an existing contract.
Agents are usually keen to help the buyer to get the contract set up and signed, and the deposit paid. However, it is important to have a fresh set of eyes looking at the contract and advising you to have received legal advice.
FC Lawyers have looked after thousands of buyers and sellers over the past 26 years and can help sellers and buyers with quick and expert contract advice, followed with experienced conveyancing service. We foster a respectful relationship with real estate agents, while protecting our clients’ interests.
Contact our team today to discuss your legal needs regarding contract reviews, conveyancing or any property legal matters.
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