How to buy and sell real estate
The main feature of process of buying and selling real estate in the U.S. is that all the actions are performed with direct participation of mediators - the representatives of the seller and the buyer , which are called brokers. Broker of a seller concludes a contract for sale of real estate during the first meeting with a client. In the most cases, it is a contract, which provides an exclusive right to sell a property. During the whole period of its validity only the agent has the right to sell a specified in contract property and obtain the appropriate fee .
Another type of contract, which may be concluded between the real estate broker and the seller, is a contract for exclusive representation. Under this option, the seller is not obligated to pay a commission to the broker if he finds a buyer without the help of his agent.
Another type of agreement is open contract. In this case a seller collaborates with several brokers at the same time, and commission is paid to those broker, who has found a buyer. Although, it should be noted that such contracts are less popular.