Once you have signed an exclusive agency contract, you no longer have the opportunity to put pressure on an agent. Once you have signed an open agency contract, you have control over your fate and decide how to market the property, how many other agents you want to appoint and you can create competitive pressure to bring an agent to performance. There seems to be some confusion about the exclusive agency agreement, because people believe what agents tell them disasters, costs and claims can arise from an open agency contract. This is exactly the fud argument that agents use to obtain freedom of movement and get an exclusive agency contract, the seller pays for all expenses, whether it is an exclusive or open agency contract. Consequences of signing and the exclusive agency contract: the seller loses control of the sale when signing an open agency contract, which can harm the value of the property. In Australia, agents spread fud (fear of insecurity and doubt) in the minds of suppliers to achieve freedom of movement by forcing suppliers to sign exclusive agency contracts. In other countries, I have lived and owned property to get an exclusive agency contract that real estate agents have to pay, either by paying the full marketing themselves or by reducing the commission. If, as a supplier, you outsource a non-exclusive agency, you will not get any benefit. Only a really stupid real estate agent will try to sell your property on the open market without a brokerage contract. However, agents may receive unsolicited offers that they can submit to you provided that you first sign an open agency contract. If you wish to accept this offer, you must pay 2 commissions after signing an exclusive agency contract. So never expose yourself to the possibility of having to pay a double commission by signing an exclusive agency contract. Check the rent in accordance with existing leases and with respect to new or renewed leases.
Notifications regarding a breach of a rental agreement and as otherwise required. . . . The agent shall provide the contracting entity with financial reports and accounts (as described in point 13) concerning all funds collected, received, paid for or used by the agent to fulfil the agent`s obligations under this Agreement. . . .
