Agency Agreement Terms

The agency agreement must indicate the estimated amounts or amounts of these commissions or discounted on these services. You can negotiate with the agent to find out if you need to pay the full amount. The development of a clause in an agency agreement on the right to payment of goodwill is therefore tailor-made and deserves special attention, since both the legal provisions and the rules that arise from the case law must be taken into account. Relying on oral terms or negotiations in the absence of a final written agreement could be costly for both parties with respect to lost revenue, commissions and all subsequent legal measures to establish and enforce the conditions. You have the right to negotiate the terms of the contract and to demand changes authorized by law. Changes to the agreement must be signed by all parties, unless the agent reviews the estimated sale price of your property. If you want to terminate the contract, you must report it in writing. Check your consent to see how much notification you need to give. The cooling-off period begins when you sign the contract and ends at 17:00 on the business day or the following Saturday. For example, if you sign the agreement on a Friday, the cooling-off period will end on Saturday at 5 p.m. When you register on Saturday, the cooling-off period usually ends on Monday at 5:00 p.m., unless it is a public holiday, in which case it ends on Tuesday at 5 p.m.

If a clientele and/or territory have been assigned to the sales agent, this is only the case, unless it has been expressly agreed that this was not the case (Article 7:431, paragraph 1, point c) of the Dutch Civil Code). Therefore, it is important (from the client`s point of view) to explicitly declare in an agency agreement that there is no exclusivity. An example of the existence of an agency agreement, which was the subject of legal proceedings dating back to 2006, came when a sponsor of a tennis tournament sued Venus and Serena Williams who had not participated. The sponsor claimed that his father, Richard Williams, had committed to participate in the tournament. The Williams sisters argued that their father did not have the authority to match them to such an agreement. If his father forced the sisters to play, the court had to decide whether there was a valid agency agreement between the Williams sisters and their father. If not, they were probably not bound by its agreement in accordance with Agency law. [must update] The broker may ask you to pay for advertising, auction fees, cleaning, decoration or landscaping, if stipulated in the agreement. The agency contract becomes mandatory when the contracting entity (i.e.: You as the owner/seller of the property or someone who acts legally for you) and the agent have signed it. There is then a one-day cooling-off period during which you can terminate (or « revoke ») the contract. Saturday is included for the purposes of the cooling-off period, but not on public holidays.