The advantage of exclusivity
- Buying an apartment in Israel
- The real estate broker
The Realtors Act recognized the distinction between a “regular” brokerage contract and a brokerage contract that includes “exclusivity.”
According to the practice underlying this distinction, in a brokerage contract that grants “exclusivity,” the agent takes it upon himself to concentrate efforts in the marketing of a property for a while, based on the assumption that it will be the only factor through which the marketing will be carried out.
The underlying perception is that there is a “thing against nothing” here – the client receives concentrated marketing efforts that are supposed to promote the sale of the property in a relatively short time, while the realtor assumes that as he acts with proper attention, there is a good chance that a transaction will be signed during the exclusivity period, in such a way that he will be given – with greater confidence the brokerage fees.
This is in contrast to the “normal” situation in which many realtors may act to an asset, aware that they may make the transaction a competing agent.
The significance of exclusivity During the period defined in the agreement, the customer cannot contact other agents.
The court also believed that the exclusivity clause prohibits the seller from using other agents.
It is important to note that in law and agreement, there is no definition or explanation for the word “exclusivity” that gives it a different meaning than the meaning known to it in the language of human beings.