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Who or what ultimately determines price?

In a competitive market, sellers compete against other suppliers to sell their products and buyers bid against other buyers to obtain the product. This competition of sellers against sellers and buyers against buyers determines the price of the product. Its called supply and demand.

What is an agreement between a broker and a client?

A Broker Agreement is a type of contract use mainly in international trade that sets forth the terms and conditions under which a Broker will either: find interested buyers for goods and/or services being sold by a Seller, or. find goods and/or services for a Buyer to purchase.

What is exclusive right to sell listing?

In an exclusive-right-to-sell agreement, the broker earns commission from the sale of the property, even if the homeowner finds a buyer for the home themselves. In an exclusive agency listing, the homeowner is free to find a buyer for the home with no financial obligation to the broker.

What are the 4 types of real estate contracts?

There are essentially four types of real estate contracts: purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts.

What is the agreement between purchaser and broker?

A brokerage agreement helps a property owner/buyer to authorize a real estate broker to find a buyer/seller for the property on their terms for which they pay the commission to the broker.

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