Are you signing a brokerage agreement?

On Behalf of | Sep 2, 2022 | Commercial Real Estate Leases | 0 comments

Selling or leasing commercial property requires a lot of thought on behalf of the property owner. Brokerage assistance is sometimes a necessity when it comes to selling commercial property.

This is crucial when it comes to protecting your interests. In order to ensure that nothing goes astray now or in the future, it is important to handle the brokerage agreement properly in the present.

Going over an agreement carefully

Florida State Legislature discusses signing brokerage agreements. First, what is this agreement? In short, it is a contract involving a broker and a commercial land owner. The broker will provide services like helping in the sale of the property, and the owner of the property must pay a commission for their services.

Before signing any brokerage agreement, it is important to go over the contract carefully. Property owners must make sure their interests are protected. Some contracts are long and complex, and a commercial real estate owner may not know every term they see.

Always ask questions

However, it is important not to simply brush those unknown terms off or assume that the broker has the best intentions when creating the contract. It could very easily be that they assume they can get away with more than their fair share because they know most property owners do not know the ins and outs of contract legality.

Any time a property owner has a question about any matter of a contract, they should speak up about it before signing. A person should not sign a contract without fully understanding the terms, nor should they sign if they do not feel the contract adequately provides protection.