Using a REALTOR® (a real estate agent who's a member of the National Association of REALTORS®) provides expert guidance through the complex buying/selling process, offering market knowledge, negotiation skills, and access to networks like the MLS to help you get the best price with fewer mistakes, saving time, stress, and potential money by handling legalities, marketing, and coordinating with lenders, inspectors, and other professional.
For Sellers
Pricing & Marketing: They help set a competitive price and use the MLS to reach many agents and buyers.
Negotiation: They advocate for you during price, repair, and terms negotiations.
Paperwork: They manage complex legal and financial documents, reducing costly errors.
Objective View: Provide an unbiased perspective on your home's marketability.
For Buyers
Market Expertise: Access to listings, neighborhood data, and price trends.
Process Guidance: Navigate inspections, appraisals, financing, and contracts.
Negotiation Power: A skilled negotiator to secure the best deal and terms (contingencies, etc.).
Time Savings: Filter out unsuitable properties and handle showing coordination.
Client Education
HANDOUTS FOR BUYERS: Reinforce your value and illustrate your real estate expertise by educating your buyers. Customize these handouts with your branding. Click on link for more information: https://www.nar.realtor/magazine/tools/client-education/handouts-for-buyers
HANDOUTS FOR SELLERS: Reinforce your value and illustrate your real estate expertise by educating your sellers. Click on link for more information: https://www.nar.realtor/magazine/tools/client-education/handouts-for-sellers
HANDOUTS FOR HOMEOWNERS: Reinforce your value and illustrate your real estate expertise by offering customized handouts to your homeowners. Click on link for more information: https://www.nar.realtor/magazine/tools/client-education/handouts-for-homeowners
GUAM LAW - Bill No. 77-38 (COR) – Real Estate Brokerage Agreements
What This Means for REALTORS®
Bill No. 77-38 (COR) establishes clear, uniform requirements for real estate brokerage agreements in Guam. For REALTORS®, this means that written brokerage agreements are now required before any brokerage services may begin, regardless of whether you are representing a seller, lessor, buyer, or lessee.
This law reinforces best practices already encouraged within the industry by ensuring that:
- Agency relationships are clearly defined upfront
- Compensation terms are transparent and understood by all parties
- Client rights and REALTOR® responsibilities are clearly documented
- Disputes and misunderstandings are reduced through written disclosure
REALTORS® must ensure that brokerage agreements:
- Are signed before providing brokerage services
- Include required terms such as duration, compensation, and cancellation rights
- Are provided to clients within three (3) business days of signing
- Are properly retained by the brokerage
Overall, this legislation supports professionalism, protects both consumers and REALTORS®, and creates a more consistent and compliant real estate environment across Guam.
Frequently Asked Questions (FAQ)
Yes. A written brokerage agreement is required before you begin providing brokerage services for all real estate transactions, whether representing a seller, lessor, buyer, or lessee.
The agreement must be entered into prior to the commencement of brokerage services. REALTORS® should not provide services without a signed agreement in place.
Clients must be provided a copy of the signed brokerage agreement within three (3) business days of signing.
Brokerage agreements must include:
- A definite start and expiration date
- Compensation details, including how and from whom it may be paid
- An explanation of when compensation is earned
- Authorization to cooperate and share compensation (if applicable)
- Cancellation provisions for both parties
Yes. The law outlines separate required disclosures for seller/lessor agreements and buyer/lessee agreements to ensure each party clearly understands their rights, obligations, and compensation responsibilities.
The real estate brokerage is required to retain the original agreement and any electronic records.