General terms and price list

Elite Nekretnine d.o.o.
Mačvanska 11
Premises 1, Vračar
11000 Belgrade, Serbia

Real estate agency registry number: 337
Office phone number: +381 63 8211 760
Mobile phone number: +381 60 6689 686

Pursuant to Article 28 of the Law on real estate agency of the Republic of Serbia:

I GENERAL PROVISIONS

  • The operation of ELITE NEKRETNINE LLC real estate agency is governed by the General business terms.
  • The General business terms also regulate the business relations between the real estate Agent and the Principal (natural or legal person).
  • The agency is based on the General business terms and the real estate agency Agreement, entered into by and between the Agent and the Principal.
  • By signing the Agency agreement, the Principal acknowledges, accepts and agrees to the provisions set forth in the General business terms as formulated by ELITE NEKRETNINE LLC real estate agency.
  • The Principal is free to conclude multiple Agency agreements with any number of agents simultaneously (except in the case of Exclusive agency agreement).

OFFER OF REAL ESTATE

  • The offer of real estate is based on the data received by the agency in writing or by word of mouth, and therefore requires additional confirmation. The agency cannot vouch for the absolute accuracy of the description or price of a certain piece of real estate nor can it eliminate the possibility of an advertised real estate item already being leased or otherwise made unavailable.
  • The demand for real estate is based on the data received by the agency in writing or by word of mouth, and therefore requires additional confirmation.
  • Any offers and notifications received by the Principal shall be considered a trade secret and may not be transferred to a third party unless the agency approves it in writing.
  • Should the Principal be already familiar with the real estate offered by the agency, they shall notify the agency about it without delay.

II DESCRIPTION OF AGENT’S RIGHTS AND LIABILITIES, EXCLUSIVE AGENCY AND PRINCIPAL’S LIABILITIES

Agent’s rights and liabilities

  • 2.1 The Agent undertakes to abide by the principles of responsibility, truthfulness and transparency towards their principals and all the parties involved and perform the following actions:
  • 2.1.1 Conclude an Agency agreement with the Principal, in writing or electronically, in accordance with laws regulating electronic commerce.
  • 2.1.2 Do everything in their power to find potential clients and refer them to the Principal with a view to concluding a business arrangement as defined by the Agency agreement.
  • 2.1.3 Provide the Principal with a carefully considered estimation of the price and lease rate for a particular item of real estate, based on its characteristics, current market value and other relevant factors.
  • 2.1.4 Inspect documents which constitute evidence of ownership rights or title to the real estate, the purchase or lease of which is the subject of the Agency agreement and warn the Principal about the risks inherent in the entry of said real estate in the real estate registry, the rights and liabilities arising from the registered piece of real estate as well as any pre-emption rights involved and legal restrictions prescribed by special provisions.
  • 2.1.5 Carry out the necessary actions in order to present the real estate on the market, advertise it properly, and perform all the other tasks provided by the Agency agreement that go beyond the standard presentation and which entitle them to a reimbursement for anticipated expenses.
  • 2.1.6 Afford the clients the opportunity to inspect the real estate
  • 2.1.7 Withhold the Principal’s personal information and treat as a trade secret all information about the real estate in question, the people on whose behalf they act as agents and the tasks they have been assigned with.
  • 2.1.8 Notify the Principal about all the circumstances relevant to the transaction that they know of.
  • 2.1.9 Take part in negotiations and seek to effect the conclusion of the Agreement.
  • 2.1.10 Attend the conclusion of the business arrangement.
  • 2.1.11 Provide legal aid (legal advisor) in connection with the conclusion of the Preliminary agreement, Agency agreement, and all the necessary documentation, at their own expense.
  • 2.1.12 Keep extensive records on both agency and sub-agency.
  • 2.2 The Agent shall be deemed to have connected the Principal with a third party (natural or legal person) with the aim of negotiating a business arrangement if they enable the Principal to get in touch with a person they have negotiated the conclusion of the business arrangement with, especially if:
  • they have taken or directed the Principal or the third party to the designated real estate for inspection
  • hey have arranged for the Principal and a third party (or their legal representative- attorney or relative) to meet and discuss the conclusion of the business transaction.
  • they have provided the Principal with the name, address, telephone/fax number or e-mail address of a third party interested in the transaction or if they have given the Principal the exact location of the desired real estate.
  • 2.3 The Agent shall conduct all business operations related to the agency itself through authorized agents and other professional bodies. While doing business with a certain Principal and depending on business organization, the Agent shall appoint one or more agents to work closely with said Principal. The Principal shall be entitled to be assigned a different agent to replace the previously appointed one without the obligation to state reasons for the foregoing replacement.

III LIABILITIES OF THE PRINCIPAL/LESSOR

  • 3.1 The Principal/ Lessor of the real estate undertakes to perform the following actions:
  • 3.1.1 Conclude an Agency agreement with the Agent in writing.
  • 3.1.2 Inform the Agent about all the details vital to the agency operations.
  • 3.1.3 Present the Agent with original documents which attest to his right of ownership of the real estate constituting the subject of the transaction as well as warn the Agent about both registered and unregistered liabilities arising from said real estate and other details that could help establish the legal status of the real estate.
  • 3.1.4 Enable the Agent and a third party interested in the business arrangement to attend an open for inspection visit to the designated real estate in a clearly specified manner and at the their convenience.
  • 3.1.5 Inform the Agent about all the relevant details concerning the real estate, which shall invariably include exact data regarding the price, location, and structure of the real estate in question.
  • 3.1.6 Pay the Agent a stipulated sum in recompense for their work upon the realization of the transaction or the conclusion of the business arrangement (Preliminary agreement) and reimburse the Agent for any expenses incurred throughout the realization of the arrangement, should the Law, a certain contractual clause and/or the general terms of the Agreement so require.
  • 3.1.7 Send the Agent a written notification of any changes regarding the transaction, particularly those that affect ownership rights, prices and deadlines, within three days of such a change taking place (especially if the Principal has demanded a lower price for said real estate, either personally or through another agent).
  • 3.1. 8 Promptly alert the Agent to the fact that a third party, referred to an open for inspection piece of real estate by the Agent, has expressed willingness to conclude the real estate agreement/Preliminary agreement unbeknownst to the Agent or carry out any other legal transaction resulting from the actions performed by the Agent.
  • 3.2 Should the Principal or a different agent advertise the real estate at a price lower than that which was demanded by the Agent and fail to inform the Agent about it within the time period set out in paragraph 3.1.7, the Agent need not ask the Principal for permission to lower the price of the advertised real estate so that it should equal the minimum price at which it is advertised by the Principal or other parties involved in the business arrangement.
  • 3.3 The Principal shall be held accountable for any damage inflicted on the Agent or a third party as a result of noncompliance to the principles of good faith, especially where the legal status and physical characteristics of the designated real estate are concerned.
  • 3.4 The Principal is obliged to make payment to the Agent that first brought them into contact with the lease. In the event that the Agent is referred to the Principal by a third party that has already visited the open for inspection item of real estate, the Principal shall communicate that information to the Agent so that potential disputes between the Principal and the Agent could be avoided. Failure to do so shall imply that the Principal was first brought into contact with the potential lesee through the Agent of ELITE NEKRETNINE LLC real estate agency.

IV LIABILITIES OF THE PRINCIPAL/LEASEE

  • 4.1 The Principal/Leasee agrees to perform the following actions as part of the agency agreement:
  • 4.1.1 Conclude a written Agency agreement with the Agent.
  • 4.1.2 Notify the Agent of all the details relevant to the successful execution of the agency in question.
  • 4.1.3 Negotiate and conclude a Job Order with the Agent - a written request detailing the type of agency the Agent is employed to perform, desired type and characteristics of the real estate that they seek to acquire emphasizing the desired price, location, structure and various other factors influencing the demand for real estate.
  • 4.1.4 Serve the Agent with a written notification of all the subsequent changes in connection with the business transaction, especially those that affect the methods of payment, deadlines and price, within three days of the change taking place.
  • 4.1.5 Pay a stipulated sum to the Agent in recompense for the agency operations and reimburse the Agent for any expenses incurred throughout the transaction, should a special contractual clause so require.
  • 4.1.6 Promptly alert the Agent to the fact that a third party whose real estate inspection by the Principal was made possible by the Agent, has expressed willingness to conclude the real estate Agreement/Preliminary Agreement unbeknownst to the Agent or carry out any other legal transaction resulting from the actions performed by the Agent.
  • 4.2 The Principal is obliged to make payment to the Agent who first afforded them the opportunity to inspect the designated real estate or notified them of it. In the event that the Principal had inspected the real estate (either personally or through another agent) even before an agent of ELITE NEKRETNINE LLC real estate agency presented it to them, they shall communicate that information to the Agent in order to avoid double inspection and potential disputes between the Principal and the Agent as well as between agents themselves. Failure to do so shall imply that the Principal first inspected the real estate through the Agent of ELITE NEKRETNINE LLC real estate agency.
  • 4.3 Prior to the actual inspection, the Principal is obliged to sign a real estate inspection document certifying that the inspection has been made possible by the Agent of ELITE NEKRETNINE LLC real estate agency.
  • 4.4 Should the Principal refuse to sign the document cited in the foregoing paragraph, the Agent shall be under no obligation to show said real estate to them. If the Agent has shown the Principal or their associates the real estate in question despite the Principal’s refusal to sign the real estate inspection document resulting in the conclusion of a sale-purchase agreement, the fact that the Principal and the lessor were brought into contact by the Agent shall be proved using evidence other than the aforementioned document: witnesses’ statements, written/electronic documents, text messages etc.

V EXCLUSIVE AGENCY AND EXCLUSIVE AGENCY AGREEMENT

  • 5.1 Due to the fact that the exclusive Agency agreement is the result of a unique relationship between the Principal and the Agent, the same type of relationship may be specified in a manner that is not prescribed by the General business terms, except in the case of the following provisions:
  • 5.1.1 By stipulating the exclusive agency clause the Principal agrees not to lease the designated real estate to/from a third party personally or hire another agent to arrange the lease for them during the term of the Agreement.
  • 5.1.2 If during the validity term of the exclusive agency clause the Principal or their associates should conclude a business transaction in connection with the lease of an item of real estate, either personally or through a different agent, they shall pay the exclusive Agent a sum equaling the stipulated exclusive agency commission in recompense.
  • 5.1.3 In this agreement, the Agent shall not fail to draw the Principal’s attention to the true meaning and all the legal consequences of the exclusive agency clause.
  • 5.1.4 The provisions constituting the General business terms apply to the Exclusive agency agreement as well, except where the agreement itself rules otherwise and provided they are not at variance with the law that regulates exclusive agency agreements or the legal nature of the Exclusive agency agreement.

VI AGENT’S RIGHTS

  • 6.1 The Agent is entitled to photograph or video tape the real estate which is the subject of the Agency agreement as long as they have consulted the Principal/Lessor about it. The Agent shall use said photographs or video material for no other purpose except for presenting the real estate to a potential leasee or for advertizing it on the Agent’s websites, real estate portals, web pages or in print.
  • 6.2 The Agent has a right to conclude a sub-agency agreement, either in writing or electronically, whereby they would transfer all or part of the rights and liabilities to another agent, on condition that the Principal explicitly approves it in the Agency agreement. The Agent shall present the Principal with a copy of the Sub-agency agreement within three days of its conclusion.
  • 6.3 The Agent is entitled to demand payment from the Principal in recompense for the services rendered and in accordance with the Agency agreement and these business terms.

VII AGENT’S ENTITLEMENT TO COMPENSATION AND REIMBURSEMENT

  • 7.1 The Agent obtains the right to compensation the very moment the contracting parties sign the first legal document meant to facilitate the realization of the contracted transaction (Preliminary agreement or Sale and purchase agreement).
  • 7.2 The Agent may not demand any part of the compensation to be paid in advance, i.e. prior to the conclusion of the Preliminary or agency agreement that they strive to forge in accordance with the foregoing paragraph.
  • 7.3 The total amount of the compensation and the method of calculation thereof as well as the type and total of the expenses covering the additional services rendered by the Agent are determined by the price list of the Agent’s services incorporated in the General business terms.
  • 7.4 The Agent may stipulate the right to reimbursement for additional expenses incurred in the process of carrying out instructions, regardless of the eventual success of the agency operations, and demand to be paid a certain amount in advance to cover anticipated expenses if it is expressly provided by the Agency agreement.
  • 7.5 The Agent is entitled to the agency compensation even if the legal transaction has not been concluded by the Principal/Leasee but by a related party as well as in the event that the Principal/Lessor has concluded the legal transaction with a third party’s related party (legal or natural person) and not with said third party that the Agent brought them in contact with. Related parties may refer to: a spouse or partner, descendant, parent, spouse’s parents, brothers or sisters as well as the legal entity owned or jointly owned by a potential leasee or their relatives as stated in this paragraph as well as the persons that accompanied them at the presentation of the real estate.
  • 7.6 If after the expiry of the agency agreement’s validity period, consequent upon the cancellation of the agreement by the Principal or the Agent and within a time period of no more than 12 (twelve) months since the expiry of the validity period, the Principal should conclude a legal transaction which is a direct result of the Agent’s efforts in that capacity during the validity period of the agreement, the Principal shall pay the Agent the stipulated compensation in full, except as otherwise provided by the agency agreement.
  • 7.7 Should the Principal, subject to the conditions and within the time period cited in the foregoing paragraph, conclude a legal transaction resulting in large measure from the Agent’s efforts during the validity period of the agreement, the Principal shall pay the Agent the stipulated compensation in full, except as otherwise provided by the agency agreement.
  • 7.8 The Agent or sub-agent shall not be entitled to the payment of the agency compensation if, on their behalf and in the capacity of a contracting party, they should conclude the real estate agreement constituting the subject of the agency in question or if such an agreement should be concluded by the Principal and the Agent’s own agent.
  • 7.9 The agency compensation calculated as a percentage of the stipulated price of the designated real estate and expressed in euros or another foreign currency shall be paid in dinar countervalue according to the National Bank of Serbia exchange rate of the day.
  • 7.10 The Agent shall not be obliged to return the agency compensation (in case of the termination of the Preliminary agreement, withdrawal of one of the contracting parties from the agreement, etc.), except as otherwise provided by the agency agreement.
  • 7.11 The costs of obtaining documentation proving ownership of the real estate in question (land certificates and other official certificates), which, in turn, constitutes one of the prerequisites for the sale and purchase of said real estate, shall be borne by the Principal, except as otherwise provided by the agency agreement.

VIII AGENCY AGREEMENT

  • 8.1 The Agency agreement is entered into by and between the Principal and the Agent in written form. Written agreement shall include an agreement concluded in electronic form, in accordance with the regulations governing electronic transactions.
  • 8.2 The Agency agreement is concluded for a definite period of time. The validity period of the Agency agreement for each particular case shall be determined separately and shall not exceed 12 (twelve) months. The Agency agreement may be renewed more than once but only by a written consent of both contracting parties.
  • 8.3 The Principal and the Agent agree to give each other notice of the termination of the agency agreement, at least 15 days prior to the expiry of the validity period of the agreement, and shall otherwise continue to be bound by said Agency agreement. The termination notice shall be delivered in writing. Conversely, if the Principal or the Agent should fail to notify each other of the termination, the Agreement shall be tacitly renewed for the same validity period that was initially stipulated.
  • 8.4 The Agent may refuse to conclude the Agreement with the Principal based on personal judgment, especially in the event of the following:
  • 8.4.1 If the Principal is a minor or a person who is partially or completely unfit for work and without permission from their legal representative to enter into the Agency agreement.
  • 8.4.2 If there is reasonable doubt that the information regarding the identity, working and legal ability and agency representation of a legal or natural person is not genuine or if there is reasonable doubt that the information regarding the real estate itself is not genuine.
  • 8.4.3 If the Principal as a legal entity is undergoing bankruptcy proceedings or if the business dealings of the Principal should indicate that they are in debt or incapable of making payments or if the Principal has any outstanding debts to the Agent.
  • 8.4.4 If, upon the receipt of an explicit request by the Agent, the Principal refuses to provide information regarding family members (related parties) or parties connected with the legal person.

IX COOPERATION WITH OTHER AGENTS

  • 9.1 While rendering agency services the Agent is free to cooperate with other agents doing business on the market in accordance with the law, with the proviso that, in the event of the conclusion of a business transaction resulting from the cooperation between the Agent and other agents, the Principal shall have no other obligations except those originally stipulated with the Agent.
  • 9.2 The Agent is authorized to delegate the agency entrusted to them by the Principal to a sub-agent by means of a special agreement and with the obligation of notifying the Principal of the conclusion of such an agreement within 3 (three) days of the actual conclusion unless the Agency agreement expressly denies the right to conclude a sub-agency agreement. Said sub-agency agreement shall not specify additional obligations on the part of the Principal.

X DAMAGE LIABILITY

  • 10.1 The Agent commissioned to carry out the agency operations as well as other duties pertaining to the object of the agency shall act in a good and workmanlike manner.
  • 10.2 The Agent is accountable to the Principal in accordance with the law for any damage arising from the non-fulfillment of the contracted obligations undertaken by signing the Agency agreement and set forth in the General business terms by the Principal.
  • 10.3 The Agent shall not be responsible for the discharge of duties that the contracting parties undertook by signing the agreement (Preliminary agreement).
  • 10.4 The Agent shall not be held responsible for the quality of the contracted real estate nor for any of the invisible defects (unless the lessor has informed the Agent in written form about a defect in the designated piece of real estate, which information the Agent has withheld from the Principal/Leasee). The Agent shall not be liable for the fulfillment or non-fulfillment of the contracted duties by either the lessor or the leasee.

XI CONCLUDING PROVISIONS

  • 11.1 Principals and third parties are welcome to send the Agent all their written suggestions, remarks, commendations, notifications and claims at 21 Radoslava Grujića, Belgrade ELITE NEKRETNINE LLC, by e-mail at elitenekretnine@gmail.com or personally at the Agent’s office.
  • 11.2 The relations between the Agent and the Principal which are not regulated by the General business terms nor specified by the Agency agreement are subject to the provisions of the Law on real estate agency and the Law on obligations as well as other provisions regulating this legal field.
  • 11.3 The First Basic Court in Belgrade shall resolve any disputes arising from this agreement.
  • ELITE NEKRETNINE LLC real estate agency, Belgrade
  • The amount of the compensation for the real estate agency depends on the following:
  • The amount of the monthly lease rate and is charged to the lessor and leasee as a percentage of the lease rate
  • The stipulated lease term and is charged to the lessor and leasee as a percentage of the monthly lease rate

STIPULATED LEASE TERM/AGENCY COMPENSATION/EXCLUSIVE AGENCY

  • Up to €1000 / minimum of 6 months / 50% / 50%
  • Over €1000 / minimum of 12 months / 50-100% / 50-100%
  • An agreement for a period of 12 months or longer / 100% / 100%
  • Estimation of the market price of an item of real estate
  • €100 – €500

THE ORIINAL PRICES FROM THE PRICE LIST ARE FURTHER ADJUSTED BY ADDING VAT

ELITE NEKRETNINE LLC real estate agency is exempt from the VAT system.

PRICE LIST INTERPRETATION

  • 1. The agent’s compensation in lease transactions is calculated as a percentage of the amount of the monthly lease rate and is payable to the Agent upon the conclusion of the Protocol, Preliminary agreement or Lease agreement. The compensation is charged to the Principal/Lessor and/or the Principal/Leasee in recompense for the services specified in the General business terms.
  • 2. The Agent’s expenses exceeding 30% of the Agent’s compensation are payable to the Agent by the Principal/Lessor or the Principal/Leasee and they are not included in the Agent’s compensation.
  • 3. A visit to the real estate and its inspection as well as the presentation of the requisite documentation is charged €10-50 per SINGLE visit depending on the duration of the visit. In the event of the realization of the transaction the aforesaid expenses will be included in the compensation.
  • 4. Any additional expenses resulting from the requests made by an interested party are calculated and charged on the basis of actual costs.
  • A principal or any other interested party commissioning the services of ELITE NEKRETNINE LLC real estate agency in writing is deemed to be apprised of both the price list and the General business terms herein presented, which entails that the interested party accepts all the obligations following from said document.
  • The interested party waives their right to appeal or bring legal action and unconditionally agrees that ELITE NEKRETNINE LLC real estate agency may seek to collect its receivables in a court of law, in accordance with said documents.
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