Real estate agents, who act as intermediaries during the sale or rental of immovable properties such as houses and workplaces, are obliged to bring the parties together. Contracts made with real estate agents and freelance real estate agents are considered as “brokerage contracts” and are regulated in Articles 520 – 525 of the Turkish Code of Obligations.
What should be considered when choosing a real estate agency?
The most important issue to be considered for the agencies that will act as your intermediary in the sale of immovables is reliability. Since real estate brings many legal responsibilities, it is important that the persons or institutions that will act as intermediaries are reliable and have a good command of legal procedures. Apart from this, another issue that should be considered in the selection of a real estate agent is his expertise in sales and marketing. Working with people who are experts in these matters, allows you to meet with more potential buyers or tenants and prevents time loss.
Is it obligatory to give commission to the real estate agent?
If a written contract has been drawn up between you and the realtor, commission payment will be made in accordance with the terms of the contract. It is obligatory to pay commission if the real estate agency you are working with has completed the services specified in the contract and in accordance with the rules of honesty and honesty determined by the laws. In article 407 of the Code of Obligations, this situation states that “the intermediary who violates the rules of integrity loses his rights to the fee and the expenses he incurred.” The real estate agent’s right to charge a fee arises only if the people brought together by the real estate agent sign a contract by agreement. If a contract cannot be established between the two parties despite the sales efforts of the real estate agent, the brokerage commission is not paid. One of the exceptions to this situation is the addition of a contrary provision to the contract between the seller and the real estate agent.
Is commission paid when the contract expires?
The condition for the real estate agent to earn a commission from the sale or rental is to fulfill the provisions of the contract they have created between them, in accordance with the purpose desired by the owner and which is legally valid. The property owner does not have to sign a contract by choosing the person found by the real estate agent. However, the property owner must have a justifiable reason for refusing the agreement. In order not to pay the brokerage fee, if the real estate agent does not realize or complete the sales or rental transactions during the contract period, he has to pay the loss incurred by the real estate agent. If he waits for the contract to expire and the agreement signed between them expires and then makes an agreement with the person found by the real estate agent, this is against the rule of truth. The property owner has made this contract as a result of the intermediary activities of the real estate agent. In this case, the owner of the property, who later made a contract with the person found by the real estate agent, must also pay the commission fee.