A sole agency agreement is similar to an exclusive agency agreement. You give rights to one agent to sell the property but you may find a buyer yourself. If you find a buyer who has not been introduced by the agent, then no commission is payable to the agent.
A Sole Agency Agreement
Agency Agreement when company appoints the agent as its sole or exclusive agent for the purchase of all goods.
Agency Agreement for a Sole Agent Includes terms covering:
- Appointment of Agent
- Duties of agents
- No purchase through company
- Shipment of goods
- Payment by company
- Alternative payment clause
- Repayment of expenses
- Summary determinations
- Obligation to be imposed on purchasers
- Purchases by agents on own account
- Terms not to be included in contracts negotiated by agents
- Law applicable