Real estate sales and purchase brokerage refers to the service provided by a lawyer acting as an intermediary between the seller and the buyer. The broker’s goal is to facilitate the transaction – to connect interested parties, provide them with information, assist in negotiations, prepare documentation, and ensure that everything is done in accordance with the law.
What Does Brokerage Include?
1. For Sellers
- Property valuation
- Advertising (on websites, social media, print, etc.)
- Communication with potential buyers
- Organizing viewings
- Assistance with preparing documentation (property list, ownership certificate, building permit, etc.)
- Negotiating price and terms
- Finalizing the sales contract
2. For Buyers
- Finding a property that fits preferences and budget
- Organizing viewings
- Checking property documentation
- Negotiating on behalf of the buyer
- Assistance with contract finalization
- Connecting with banks and appraisers
3. Brokerage Fee
In Montenegro and the region, this is usually a percentage of the total sale value, e.g. 3–5% + VAT. The fee is paid by the seller, sometimes the buyer, and often both.
