When you sell real estate, you need specialized knowledge, and it can be said that it is very difficult to do it alone if it is the first time.Therefore, you will aim for a smooth sale by obtaining the cooperation of a real estate company.This refers to exchanging rules such as what kind of conditions to carry out sales activities and how much the commission will be if the contract is concluded.Each has its own characteristics, so we will explain in detail this time.
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What is a General Brokerage Agreement?
You can contract with multiple real estate companies.If you want to sell quickly, if you limit yourself to one company, if that real estate company does not go well, you will have to renew the contract with another company, which will be a waste of time.However, by making multiple requests at the same time, it will catch the eye of many people and increase the possibility of finding a buyer.Also, if you find a buyer yourself, you can sell it yourself.There is no fixed contract period, but three months is common, and Reins does not have any obligation to register or report sales status.REINS is a real estate network system operated by Real Estate Information Network System designated by the Minister of Land, Infrastructure, Transport and Tourism, and is used by real estate companies nationwide.Real estate companies can use this to provide a wealth of information to people who want to buy, sell, or rent.Therefore, it can be said that there is a possibility of a large opportunity loss if it is not registered with REINS.
There are two types of general intermediation contracts: explicit type that informs other real estate companies that they have concluded an intermediation contract, and non-explicit type that does not inform them.If there is no particular reason not to convey it, it would be better for the real estate company to make it explicit so that you can understand the other company you are requesting.
In addition, it is extremely difficult for a first-time seller to find a buyer and conclude a contract on their own, and it is easy to cause unexpected troubles. It is also worth noting that we may not actively promote sales in areas where it is difficult to attract customers, even if it is a popular area.
Summary of General Brokerage Contracts
- Is it possible to conclude an intermediary contract with multiple real estate companies?
- Is it possible to conclude a sales contract with the buyer that the seller has found?
- Contract period → not specified
- Obligation to register with Rains → None
- Obligation to report sales status → None
What is an exclusive brokerage contract?
As the word “dedicated” suggests, it is an intermediary contract that entrusts sales activities to only one company. Since there is only one company, there is no fear of being taken by other companies, and real estate companies tend to spend more on advertising.In addition, it is also advantageous for sellers that REINS registration is obligatory and that sales status reports are obligatory at least once every 1 days.You can also find a buyer yourself.
Since the contract period is within 3 months, the real estate company will try to produce results by then, but since there is only one contract, there is a risk that if you meet a company that lacks ability, you will not be able to decide. .
Full-time agency contract summary
- Is it possible to conclude an intermediary contract with multiple real estate companies?
- Is it possible to conclude a sales contract with the buyer that the seller has found?
- Contract period → within 3 months
- Obligation to register with Reins → Within 7 business days from the day following the date of conclusion
- Obligation to report sales status → at least once every 14 days
What is an exclusive agency contract?
Exclusive full-time brokerage is a stricter version of exclusive brokerage, and the seller cannot find a buyer and conclude a contract.Even if you find it yourself, you will have to sign a contract with a real estate company as an intermediary company.
- Is it possible to conclude an intermediary contract with multiple real estate companies?
- Is it possible for the seller to conclude a sales contract with the buyer that the seller has found?
- Contract period → within 3 months
- Obligation to register with Reins → Within 5 days from the day following the date of conclusion
- Obligation to report sales status → at least once every 7 days
Which one should you choose after all?
Unless you are in a very good area or location, we recommend a full-time brokerage contract.It is easy to conclude a contract because we work hard on sales activities within a limited period of time, and because the seller understands the situation, we can make proposals smoothly when purchasing a new investment property.
It is no exaggeration to say that the success of the sale depends on the choice of real estate company.
Why don't you choose a real estate company to leave after careful consideration?
Summary
- There are general mediation contracts, full-time mediation contracts, and exclusive full-time mediation contracts in mediation contracts with real estate companies
- From a comprehensive point of view, a dedicated mediation contract is recommended.However, the ability of the real estate company clearly shows
- Depending on the situation of the property, such as the location is quite good, results can be expected even with general mediation
- Careful selection of a reputable real estate company is important.
At Rich Road Co., Ltd., we will consistently support all aspects of investment real estate, from complete beginners to experienced people, from a wide range of real estate selection, loan consultations, post-purchase management, and renovations.
