How much is the agency fee?
Under the Turkish Regulation on Real Estate Trade, the service fee in a sale may not exceed 4 per cent of the sale price stated in the contract, excluding value added tax. The regulation sets this as a ceiling; the parties may agree a lower rate in writing.
Who pays the fee, the buyer or the seller?
Unless agreed otherwise in writing, the regulation provides that the fee is shared equally between the client and the buyer. How it is shared is stated explicitly in the contract.
How much is the fee on a letting?
On a letting, the service fee may not exceed one month's rent, excluding value added tax.
Does the fee include value added tax?
The ceilings in the regulation are calculated on amounts excluding value added tax; the tax is added separately.
Is a written agreement compulsory?
Yes. Licensed agencies are required to use written agreements, and viewings are recorded on a property presentation form.
Do I have to give a sole agency?
No. A sole agency is recommended because it keeps the marketing in one pair of hands and on plan, but the decision is yours, and we set the term and scope of the agreement together.