General Terms of Business

Introductory provisions

These General Terms of Business regulate the relationship between the sole proprietor, as a real-estate broker, and the principal (natural or legal person). By signing a brokerage agreement or by accepting these Terms, the principal confirms being familiar with and agreeing to them.

Brokerage is performed on the basis of a written Brokerage Agreement entered into by the principal and the broker. The principal may have brokerage agreements with several brokers at the same time, except in cases of exclusive brokerage.

A buyer or tenant acting as principal shall pay the brokerage fee to the broker who first enabled them to view a property or first acquainted them with the property. If the principal viewed the property through another broker or alone before the broker presented it, they must inform the broker; otherwise, it shall be deemed that the property was first viewed through the broker.

Immediately before the viewing, the buyer or tenant acting as principal shall sign a Property Viewing Confirmation. If they refuse to sign, the broker is not obliged to show the property. If the broker nevertheless shows the property and the buyer/tenant or their related persons subsequently conclude a sale/lease, the broker’s involvement may be proven by other evidence (witnesses, written or electronic records, SMS, etc.).

A seller or lessor acting as principal shall pay the brokerage fee to the broker who first brought them into contact with a prospective buyer or tenant. If the broker introduces a person who has already viewed the property, the principal must inform the broker; otherwise, it shall be considered that the first contact was enabled by the broker.

Broker’s obligations

• To conclude a written brokerage agreement with the principal.
• To seek and bring a person into contact with the principal for the conclusion of a legal transaction.
• To provide an objective opinion on the price or rent, considering property characteristics, market conditions, and other relevant circumstances.
• To inspect documents proving title or other real rights to the property and warn the principal of risks relating to registration, encumbrances, pre-emptive rights, and legal limitations.
• To undertake the actions necessary to present the property on the market and to advertise it appropriately; actions beyond customary presentation may be specially agreed and charged.
• To enable the viewing of the property.
• To keep the principal’s personal data, and upon written instruction, to keep as a business secret the data about the property or the transaction.
• To inform the principal of all circumstances relevant to the transaction that are known to the broker.
• To mediate in negotiations and strive to conclude the contract.
• To attend and provide legal support by an attorney for drafting the (pre-)contract and other necessary documents.
• To attend the handover of the property.

It is deemed that the broker enabled contact if the principal was put in touch with the counterparty, especially if the broker: led or directed the principal or a third party to view the property; organized a meeting between the principal and a third party; communicated the name and contact details of the interested party or the exact location of the requested property.

Broker’s rights

With the principal’s consent, the broker may photograph or film the property exclusively for marketing the property.

The broker may conclude a sub-brokerage agreement (in writing or electronically) transferring rights and obligations in whole or in part to another broker, if the principal expressly agreed in the Brokerage Agreement; a copy shall be delivered to the principal within five days.

The broker may invoice services in accordance with the Brokerage Agreement and these Terms.

Principal’s obligations

• To inform the broker of all circumstances relevant to brokerage.
• To present original documents proving their title to the property and to notify the broker of any registered or unregistered encumbrances.
• To enable the broker and interested parties to view the property at agreed times.
• To provide accurate information on the property, especially price and structure.
• To pay the agreed brokerage fee, and, if specially agreed, reimburse additional costs incurred during brokerage.
• To notify the broker in writing of any changes relating to the transaction (rights, deadlines, price) within three days.
• To promptly inform the broker if a person who viewed the property through the broker wishes to conclude a deal without the broker.
• To pay the full agreed brokerage fee even if the other party or its related person is also the broker’s principal.

Exclusive brokerage

By agreeing an exclusivity clause, the principal undertakes not to alienate the property personally nor engage another broker during the agreed period.

If, during exclusivity, the principal concludes a deal personally or via another broker, they shall pay the broker with whom exclusivity was agreed an amount equal to the agreed brokerage fee as damages.

The broker shall specifically warn the principal in the Brokerage Agreement about the meaning and legal consequences of exclusivity.

Brokerage fee

The right to the brokerage fee arises on the day of notarization of the (pre-)contract of sale/purchase for which the broker mediated, and at the latest within fifteen days from notarization.

The broker may not request any advance or partial payment of the fee before the (pre-)contract is concluded.

The amount or method of determining the fee and the type/amount of additional costs are defined by the Price List, which forms an integral part of these Terms.

The broker may agree on reimbursement of necessary additional costs for performing the order, regardless of the success of mediation, and may request advances if expressly provided in the Brokerage Agreement.

The broker is entitled to the fee if the spouse/common-law partner, descendant, parent, or any related person of the party introduced by the broker concludes the mediated transaction.

If within one month after termination of the Brokerage Agreement the principal concludes a transaction that is a direct consequence of the broker’s mediation prior to termination, the broker is entitled to the full fee, unless agreed otherwise.

If under the same conditions the transaction is largely a result of the broker’s mediation, a proportionate fee is due, unless agreed otherwise.

The broker/sub-broker is not entitled to a fee if they conclude, in their own name, the contract that is the subject of mediation with the principal, or if such a contract is concluded by a person performing mediation for the broker.

Costs of obtaining ownership documents (e.g., land registry extract) required for transfer are borne by the principal unless agreed otherwise.

The broker may grant discounts on the brokerage fee to the principal.

Liability

In performing brokerage and related actions, the broker must act with the care of a prudent businessperson.

The broker is liable to the principal, in accordance with the law, for damage arising from non-performance of contractual obligations under the Brokerage Agreement and these Terms.

The broker is not liable for performance of obligations undertaken by the parties in the (pre-)contract, nor for the quality of the property or hidden defects (except where the seller informed the broker in writing of a hidden defect and the broker concealed it from the buyer).

Final provisions

Matters not regulated by these Terms or the Brokerage Agreement are governed by applicable laws regulating brokerage and by the Law on Obligations.

Price list

Notes

• Anything not covered by this Price List is agreed directly with the responsible person of the broker.
• The principal and the broker may agree verbally or in writing on fees for additional services, depending on the type and scope of work.
• In accordance with the Law on Foreign Exchange Operations, all payments are made in RSD at the appropriate exchange rate on the day of payment.