Greater Boston Real Estate Board Listing Agreement

It is illegal for a real estate ad service to promote or otherwise submit offers that claim to meet certain specifications if they do not, or to declare that it has offers that meet certain specifications if it does not have such offers. It is also illegal for an apartment list service to get you to sign a contract by incorrectly stating that it has offers that meet your requirements at the time of performance of the contract. A sales and sale contract is the contract between the buyer and the seller, which points out the terms of purchase of the house (property). In essence, it controls the sale of the house from the seller to the buyer. It contains information about what is being sold, the sale price, your financing, the type of security you will receive, the closing date, the amount of the deposit you paid and the amount of the price of the house you are financing. Whether you are a buyer, seller, landlord or potential tenant, the obligations of a real estate agent or seller do not absolve you of the responsibility to protect your own interests. If you have any questions about your transaction, present them to the agent. If you need legal, tax, insurance or other advice, it is your responsibility to consult a professional in these areas. A real estate agent or seller must tell you who he represents in a potential transaction.

This disclosure of the agent`s relationship with you or another party must be made in writing at the time of your first personal meeting to discuss a particular property or characteristic. To obtain a licence, a candidate must satisfactorily complete the Real Estate Agents program approved by the Board of Directors and pass a written examination by the Board of Directors Review Service. A real estate agent negotiates contracts for the sale, exchange, purchase, lease or rental of units of real estate for a fee, commission or other valuable consideration for another person. A broker is responsible for the acceptance and retention of all funds, such as . B a deposit when buying a home, and closing transactions. A real estate agent must monitor all transactions made by a seller. Both parties need to know who holds the deposits and what happens in the event of a dispute between the parties. All agreements must be concluded in writing and no party should sign an agreement or pay money until they are sure they understand the terms. Unless your needs require something else, your listing contract should be aimed at ensuring that your property can be promoted to as many advertising media as possible, exposing it to more potential buyers.

(For example, the private professional association list service, local newspapers, nationally run newspapers or the Internet.) If you have a serious complaint against a real estate agent or seller, call or write to the department`s investigation office and ask for a claim form: how long do you give a broker to sell your property, the type of advertising that is done and the commission you will pay to the realtor. The amount of the deposit, the reference date, the number of credit applications you will file and the main terms of such a loan (z.B. you are trying to obtain a fixed-rate loan not exceeding a certain percentage and a certain number of years). You can also get rid of the deposit clause agreement or a more favorable one for you than the buyer if the sale fails. A real estate agent contract in Massachusetts is a document that defines the terms of the relationship between a real estate agent and a buyer or seller of real estate. The contract describes each party`s rights and obligations with respect to a real estate transaction (sale or purchase of a house). By signing a list contract, the agent is bound by the conditions set out in it and must act in the best interests of the client.