
Auction VS private treaty sale
When you’re busy preparing to sell your home, understanding the difference between selling via auction or by private treaty sale is an important part of the selling process. There are pros and...
An auction agency agreement is a contractual arrangement that creates an exclusive right for a particular agent or agency to sell a property at auction.
An auction agency agreement is a contractual arrangement between a property owner and a real estate agent or agency. This agreement creates an exclusive right for that particular agent or agency to sell the property at auction.
In the event that you or another real estate agent sell the property during the agreed-upon exclusivity period, it remains an obligation to pay the agreed-upon commission to the designated agent.
The agreement ensures that the agent who secured the exclusivity rights is entitled to compensation for their efforts, regardless of the circumstances surrounding the property's sale within the stipulated time frame.
Other common agency agreements can include:
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