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Valid Agency Agreement

The non-competitive clause in section 7:443 of the Dutch Civil Code, which contains mandatory provisions, limits the freedom of the sales agent to work after the termination of the agency contract. The clause is only valid if exclusive agency contracts are often used for the sale of homes. In such an agreement, you give an agent exclusive rights to sell your property. This may give the broker the right to pay a commission if the property is sold during the fixed term of the contract, even if the property is sold by you or another agent. The broker may also be entitled to a commission if the property is later sold to a person who trades with the original agent. You can choose the type of agreement based on your needs and preferences. You can appoint a few real estate agents to market your property or search for a property in a non-exclusive agreement. You must declare that your agency has an internal claims procedure for processing claims and that the seller can complain to REA without first using your internal claim procedure. Any amendment to this agreement is only valid if it has been agreed in writing and by both parties. If the seller changes his mind at the signing of a single agency contract, he can terminate it (in writing, by letter, fax or e-mail) until 5:00 p.m. on the first business day after signing a copy of the agreement.

It is advisable to sign the agreement with your real estate agent if you have decided to take charge of his services. The agency agreement can be concluded either for an indeterminate period or for a fixed term (“fixed term”). On the occasion of a merger, Econocom, the client, and proposed by its commercial agent, SD Lease, the conclusion of a new agency contract modifying the basis and rate of its commissions – the rate of 6% of turnover is replaced by 9% of the gross margin – and includes a (…) However, if you do work before the cancellation of the contract leading to the sale of the property, the terms of the agency contract are legally binding. An agency agreement is reached when a person, known as an “agent,” is authorized by another person, the so-called client, to act on behalf of the client. A principle that assigns an agency to an agent establishes a legal relationship with the agent. Agency agreements are important to businesses because you can meet with them if you ask a seller, accountant, lawyer or other third party to make transactions on your behalf.

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