Is 1% buyer brokerage a government rule?
No. Buyers often pay 1% as a local practice in some Nagercoil and Kanyakumari transactions. It is not a government rule. Agree the actual fee in writing before work starts.
Is 2% seller brokerage a government rule?
No. Sellers often pay 2% as a local practice in some transactions. It is not an official tariff. The service, payer, rate, calculation base and due event must be written.
When should brokerage become due?
Use the event stated in the written terms. A completed registration is clearer than an undefined visit, introduction or token. Also state what happens if title trouble stops completion.
Should the buyer pay an advance in the broker’s name?
Do not assume a broker may receive the property advance. Verify the owner and authority, use transaction-specific written terms and obtain independent legal review and a proper receipt.
Does a broker verify the title?
A broker may collect and share documents, but that does not prove title. The buyer should use an independent property advocate and other professionals needed for the property.
What should be written before the first visit?
Write the properties or clients covered, fee percentage or fixed amount, calculation base, who pays, when it becomes due, title-failure treatment, duration and receipts.