Notes on Appointment an Estate Agent

NOTES ON APPOINTING AN ESTATE AGENT

  • Estate agent practicing in Hong Kong must be licensed. But it is easy find one who is licensed
  • The appointment can be made in a way of "single agency" (i.e., the agent represents only the buyer) and “dual agency” (i.e. the agent represents both the buyer and the vendor)
  • Estate agent will sign with you an estate agency agreement.
  • Before signing you should understand the various terms, including validity period of the Agreement (usually 3 months) and agreed commission paid by buyer and seller (usually 1% each BUT the amount or % is negotiable) and other special terms of the Buyer (if applicable)
  • Ask for a receipt upon paying a fee
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