THREALTY INSIGHTS

  Most would argue that nothing is more important than family, but meet a landlord and ask them this, do you do your business with family? Those that are hesitant, have stories to share, and some of these are landlord stories. Renting property to relatives or close friends can turn out in two ways. On one hand, it’s an opportunity to help someone you care about; on the other, it can quickly lead to misunderstandings, conflicts, or financial strain if not handled properly. While it’s natural to want to extend a helping hand, it’s important to remember that real estate transactions—whether renting, buying, or selling—work best when handled with professionalism and clarity. This is where the concept of arm’s length transactions comes into play. What is an Arm’s Length Transaction? An arm’s length transaction is a real estate deal conducted by parties who have no close personal or familial relationship. This ensures that all terms of the agreement, including pricing, are ...

  I recently encountered a seller who claimed he was being ripped off by a broker asking for a commission he didn’t feel was earned. The story went like this: The seller and the broker had agreed on a commission for the sale of a plot of land on Hoima Road. The broker brought a buyer who offered less than the seller wanted, so the seller turned them down. A year passed, and while the seller was out of the country, the same buyer returned with a revised offer. He only managed to reach the seller's wife who assisted in negotiations, and the seller accepted the offer and received the cash. The broker returned to claim his commission, and was told to wait until the seller came back. However, when the seller returned a month later, he denied the broker's commission. The question is: He asked me, does the broker deserve to get paid? In the real estate industry, understanding when a broker is entitled to commission is crucial for both brokers and their clients. Here's a br...