SELLER/LESSOR's AUTHORITY FORMS
What is the purpose of the authority?
It gives clear picture of the property being sold and/or leased; thus giving clients confidence towards your broker.
Our networks generate 1000 new listings/requirements per month and need to know they are dealing with an authorized representative.
Why do brokers prefer gross price?
Government Taxes - The basis is always the gross price. Prevents personal interpretations on tax computation.
Marketability - Same price given to buyers by your brokers. No personal tax/commission interpretations.
Why are you using Property Registration / Commission Agreement instead of Authority to Sell like most brokers?
Some people are hesitant due to the word authority thinking that the brokers will sell/lease their property without consent.
By changing the name, we are just gathering information on the property and agreeing to give the brokers what is due.
How do we compute for gross price from the amount we want to receive?
For personal property, the formula is easy.
100% - 6% capital gains tax - x% commission
10,000,000 / (100%-6%-3%) or .91 = 10,989,011 Gross Price