The real estate brokerage contract, what it is and how it works

The real estate brokerage contract, what it is and how it works

The real estate brokerage contract is the document through which the mediator acts as intermediary between two parties (intermediate) so that they can conclude an agreement. Let's see, in detail, what are the characteristics and how it works.

The real estate brokerage contract establishes the reward for the work done by the mediator, only if the brokered parties actually manage to conclude the contract. The mediator is not bound to the parties by any relationship of collaboration, dependence or representation, he acts as an intermediary between the seller of an apartment and the potential buyer, carrying out an activity of assistance and research, but to be able to practice the profession must be registered to the business register in the case of a company or to the Rea (administrative economic register) in the case of a natural person.

The object of the real estate brokerage contract is the business of the brokered parties, which must be determined in its entirety thanks to the mediator's intervention and the brokered parties must express their will to make use of them. This will can be expressed, but also expressed implicitly by concluding facts (actions that undoubtedly imply the will to make use of the mediator's action).

In order for the contract to be valid, the law does not require a particular form, but normally the mediator makes use of a written contract that the parties must sign. In general, these models also contain specific contractual clauses relating to the payment of the mediator's remuneration.

Furthermore, the law does not provide anything about the duration of the mediation contract. The parties or the mediator, in any case, can fix a term, after which the contract is automatically terminated. Generally, it is important to set a deadline when the mediator's activity runs the risk of prolonging too much. Unless otherwise provided for by the law, the mediator can confer the task on a third person, subjected to him, called a proper sub-doctor. In this case the obligation to pay the fee to the intermediary lies only with the mediator himself and not also with the parties.

As a consideration for the work done, the mediator has the right to get a commission. But some requirements are needed: the mediator must be registered in the business register or in the Rea; the deal between the parties must be concluded; the mediator must have contributed to the conclusion of the deal.