Buyer broker and seller broker agreement

Yagnesh rathod (Querist) 16 April 2016 This query is : Resolved
It happens most often that seller asks an agent to search an appropriate buyer who would buy his property and on that the seller agrees to pay a commission of certain sum to the agent in oral manner and after the agent who found an appropriate buyer for the property and once the transaction of transfer of property executes and later seller denies to pay the commission to the agent then what remedy the agent/broker has to obtain the commission from seller.

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Kumar Doab (Expert) 16 April 2016
The verbal agreement can be reduced in writing.

The agents have their own association/union and it can intervene to settle amicably.

Rajendra K Goyal (Expert) 16 April 2016
The agent should get his commission before the transfer of the property.

Kumar Doab (Expert) 16 April 2016
Usually it is half at the time of sale agreement and rest after sale deed is registered.

Rest refer of the terms of agreement.

P. Venu (Expert) 17 April 2016
What is the specific problem, if any.

Any how, these types of dealings are governed by its own customs and usages than any legislation.

Yagnesh rathod (Querist) 04 May 2016
Thanks alot everyone for your suggestions.

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