Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
What is commission contract?
A Commission Agreement is a contract between an employer and an employee for work paid on commission. The Agreement is helpful for both employer and employee as it outlines the details of the work relationship. Terms include a definition of the expected employment, and commission percentages and salary, if applicable.
What is a commission letter?
An offer letter or short-form employment agreement to be used for a prospective employee paid in whole or in part on a commission basis, such as a commissioned salesperson or sales representative. State law may impose different or additional requirements and should be considered with this offer letter.
What is a draw against commissions?
Draw against commission is a salary plan based completely on an employee's earned commissions. An employee is advanced a set amount of money as a paycheck at the start of a pay period. At the end of the pay period or sales period, depending on the agreement, the draw is deducted from the employee's commission.
How do I get out of the exclusive buyer agency agreement?
Go over the buyer's agent agreement you signed to see if it includes a clause that allows you and the agent to terminate the agreement by mutual consent. The wording and terms of the contract should be clear and stipulate under what conditions you can cancel the agreement before it expires.
What is an exclusive buyer agency contract?
The exclusive agency agreement holds the buyer to the agent, meaning that they can't just drop the agent and avoid paying the commission. Exclusive buyer-broker agreements aren't the only contracts that agents deal in, but it is the most common one. Like a lot of real estate lingo, this contract goes by a lot of names.
Who must sign a listing agreement?
A competent listing broker will sign the listing agreement and demand that anyone who has an interest in real estate as the owner sign the listing agreement. Obvious examples would include anyone of record as an owner of the property and likely are the people on the instrument of ownership, i.e., the deed.
Can anyone enforce an oral listing agreement if so who?
Generally speaking a party can enforce an oral agreement. Courts will not enforce certain contracts unless they are in writing.
Do both owners have to sign a listing agreement in California?
California real estate brokers are required to have a written contract with their clients to list a property for sale. However, only one owner signed the listing agreement.
How do I fill out an exclusive buyers brokerage agreement?
Exclusive Buyer Brokerage Agreement - YouTubeYouTubeStart of suggested clipEnd of suggested clip
Exclusive Buyer Brokerage Agreement - YouTube
What is meant by exclusive buyer agency agreement?
Real estate agents work on a commission basis and only make a commission when they help buy/sell a property. The exclusive agency agreement holds the buyer to the agent, meaning that they can't just drop the agent and avoid paying the commission.
Which person is responsible for filling out a property disclosure statement?
The seller is required to be up-front and honest regarding any past issues, and likewise, you as the buyer are responsible for being aware of everything in the property disclosure statement.
Who must complete a property disclosure form?
As a broad rule, all sellers of residential real estate property containing one to four units in California must complete and provide written disclosures to the buyer. There are a few exceptions, such as properties that are transferred by court order or from one co-owner to another.
Who must deliver a property condition disclosure statement?
The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy thereof to be delivered to a buyer or buyer's agent prior to the signing by the buyer of a binding contract of sale.
What is a property condition disclosure?
What is a Property Condition Disclosure Statement? The CDs is a disclosure document a seller is required by law to complete and provide the buyer in addition to the purchase agreement. The CDs forms part of the purchase agreement and the buyer is permitted to rely on the seller's disclosure as set out in it.
How should a seller deal with an interested party that shows up at their front door unannounced and wants to see the house?
How should a seller deal with an interested party that shows up at their front door unannounced and wants to see the house? The seller should conduct a tour. Take the person's name and then call the office immediately so an agent can come to do the showing. Give the visitor a flyer and the agent's business card.