Real estate is one of the most strategic components of any economy. It acts as shelter, facilitates business transactions and serves as an investment tool, just to mention a few.
In recent years, Ghana has experienced a surge in commercial real estate business.
For new players in the industry, knowledge about the industry is crucial to your success. Real estate expert, Lamudi Ghana, has compiled a list of five must know terms to guide you in your transaction process.
Real estate listing
This is known as an agreement permitting a real estate agent or broker to handle the sale or rental of a property. The agent or broker is paid commission on every successful transaction. There are various types of listings, the most common of them being open listing and exclusive agency listing. An open listing gives the right to sell or rent a property to multiple brokers while an exclusive agency listing transfers this right to a single broker, with the exception of the owner.