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Business

Selling a Flat

resale transaction steps

As a salesperson, you need to guide the sellers through the policies and procedures for a smooth resale transaction. 

The Council for Estate Agencies has a Prescribed Estate Agency Agreement for the sale, purchase, and lease of residential property.

  • This agreement is a contract between you and the sellers, and it seeks to protect both parties’ interests. The terms and conditions of the agreement, such as commission payable, can be negotiated between both parties
  • You should explain the Agreement to the sellers fully, and give them enough time to read it thoroughly. Essential information that should be included in the Agreement are the property address, price, dates, names, and commission payable
  • If there are any amendments made to the contract, make sure the sellers countersign them. You should also give them a copy of the Agreement which they have signed