Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
This kind of agreement is often visible in the property and real estate sector. In this kind of listing agreement, the real estate agent/broker gets the exclusive rights for getting a commission for selling a property through representing the home owner and also finding a suitable buyer for the property in question. It is the commonest agreement type whenever a home is listed or being sold. The broker will still get a commission on the sale, even when the property owner gets his/her own buyer. Along with covering the cost of the commission, the owner also covers the listing fee costs alongside.
This type of agreement is quite common in the property sector. It comes with several key components include fees and charges, commissions, provisions for contingencies, and the duration or tenure of the contract. It is often used by developers and property sellers/owners for accelerating enquiries and sales for their properties.
