14/06/2025
Para sa mga new Licensed Brokers at Sellers ng Property, you should know what is an "Exclusive Authority to Sell".
If a seller gives you exclusive authority to sell, it typically means that you (as the agent or broker) have the exclusive right to market and sell the property for a specified period. Here's what that entails:
Key Points of Exclusive Authority to Sell:
Sole Representation:
You are the only agent or broker who has the legal right to sell the property.
No other agents can market or sell the property during the agreement term.
Commission is Guaranteed:
You are entitled to a commission even if the seller finds the buyer themselves during the agreement period.
This distinguishes it from other types of agreements (like "exclusive agency"), where the seller might avoid paying commission if they find the buyer directly.
Obligation to Promote:
Because you’re the only agent, you are expected to actively market the property and try to obtain the best possible deal.
Defined Time Period:
The agreement is for a specific duration (e.g., 90 days, 6 months days, 1 year, etc).
After it expires, the seller is no longer bound unless the agreement is renewed.
Binding Legal Contract:
It is a legally binding contract, and breaching it could lead to legal or financial consequences.
Example Scenario:
A homeowner signs an Exclusive Right to Sell Listing Agreement with Agent A. Two weeks later, a buyer approaches the homeowner directly and wants to purchase the home. Even though Agent A did not find the buyer, they are still entitled to the agreed commission because they have exclusive authority to sell.
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