GENERAL TERMS AND CONDITIONS FOR MEDIATION IN REAL ESTATE TRANSACTIONS AND LEASING
of the company City Space Real Estate d.o.o.
1. Introductory Provisions
The General Terms and Conditions of business of the company City Space Real Estate d.o.o., Bulevar Vudroa Vilsona 17/209, Belgrade, Tax ID: 114874880, Company Reg. No: 22083627, registered in the Register of Real Estate Brokers under No. 1981 (hereinafter referred to as: Broker), in accordance with Article 28 of the Law on Mediation in Real Estate Transactions and Leasing (hereinafter referred to as: Law), regulate the mutual relations between the Broker and the principal (natural or legal person), who concludes a Mediation Agreement with the Broker in order to conclude a legal transaction concerning real estate sale or lease (hereinafter referred to as: Principal).
By concluding the mediation agreement, the Principal confirms that they are familiar with and agree to the provisions of the Broker’s General Terms and Conditions. These General Terms and Conditions are displayed in a visible place at the Broker’s business premises, as well as on the Broker’s website, thereby allowing the Principal to familiarize themselves with them.
Mediation is conducted based on a mediation agreement for sale or lease of real estate, concluded between the Principal and the Broker in written or electronic form, in accordance with Articles 9 to 15 of the Law on Electronic Commerce ("Official Gazette RS", No. 41/09 and 95/13).
The Principal may be a seller, buyer, lessor, lessee, or a proxy of one of these parties.
The Principal may conclude mediation agreements with multiple brokers simultaneously, except in the case of exclusive mediation.
A buyer or lessee, as the Principal, is obligated to pay the brokerage fee to the broker who first enabled them to view the real estate or who first introduced them to the property. If the Principal (buyer or lessee) viewed the property through another broker or independently before the Broker showed it, they must inform the Broker about this. If they fail to do so, it will be considered that the property was first viewed through the Broker.
The buyer or lessee, as Principal, must sign a mediation agreement with the Broker immediately prior to viewing the property.
If the buyer or lessee refuses to sign the agreement, the Broker is not obligated to show the property. If the Broker shows the property despite refusal, and the buyer/lessee or related persons conclude a contract of sale or lease, the fact that the Broker introduced the buyer/lessee to the seller/lessor will be proven by other means — witnesses, written or electronic documentation, SMS messages, etc.
The seller or lessor, as Principal, must pay the brokerage fee to the broker who first connected them with a potential buyer or lessee. If the Broker connects the Principal with a party who had already viewed the property, the Principal must inform the Broker about this; if they fail to do so, it will be considered that the Principal was first connected with the party through the Broker.
2. Broker’s Obligations
2.1. Broker’s obligations include:
Concluding a written mediation agreement with the Principal;
Endeavoring to find and connect the Principal with a party to conclude a legal transaction;
Providing the Principal with an objective opinion on the price or rental amount of the property, in accordance with its characteristics and market conditions;
Reviewing ownership documents or other real rights regarding the property, and informing the Principal of possible risks related to property registration, rights or encumbrances on the property, preemptive purchase rights, and legal limitations;
Performing necessary actions to present the property on the market, including advertising, and other actions beyond normal presentation if agreed, for which additional costs may apply;
Enabling property viewings;
Safeguarding personal data of the Principal and, upon written order, keeping as business secret all information about the property or the transaction;
Informing the Principal about all relevant circumstances known to the Broker;
Mediating negotiations and striving to conclude a contract;
Attending and providing legal assistance in drafting contracts and related documents;
Attending the handover of the property;
Keeping records of mediation.
It is considered that the Broker has connected the Principal with a third party if the Principal is put in direct contact or led to the property by the Broker, or if the Broker arranges a meeting or provides contact details or exact location information.
2.2. Broker’s Rights
The Broker has the right, with the Principal’s consent, to photograph and video record the property for marketing and promotional purposes. All such materials are the Broker’s intellectual property and cannot be used or published by the Principal or third parties without written consent.
The Broker may delegate mediation rights and obligations to another broker with explicit consent of the Principal, and must provide the Principal with a copy of such agreement within five days.
The Broker has the right to invoice the Principal for services rendered according to the mediation agreement and these terms.
2.3. Exclusive Mediation
The Principal may explicitly agree to exclusive mediation, committing not to dispose of the property personally or through other brokers during the agreed term. If the Principal violates this, they must pay the Broker the agreed brokerage fee as damages.
The Broker must clearly inform the Principal about the implications of exclusive mediation in the agreement.
3. Principal’s Obligations
The Principal must:
Inform the Broker of all relevant circumstances for mediation;
Provide originals or copies of ownership documents and inform of any encumbrances;
If a legal entity, provide authorization for disposal of high-value assets according to company law;
Ensure property viewing by the Broker and interested parties at agreed times;
Provide accurate information on price, location, structure, etc.;
Pay agreed brokerage fees and reimburse agreed costs;
Notify the Broker in writing of any changes related to the transaction within 3 days;
Inform the Broker if any interested party intends to conclude a transaction without the Broker;
Provide certified copies of ownership documents upon concluding the transaction;
Pay full brokerage fees even if other related parties are involved;
Bear the costs for obtaining necessary documentation, such as cadastral extracts and other official fees and taxes.
4. Earning Brokerage Fee
The Broker earns the right to brokerage fee on the day of notarization of the pre-contract or contract of sale or lease, or no later than five days after the transaction’s completion, unless otherwise agreed.
Partial advance payments of brokerage fee are not allowed before notarization.
The amount and method of determining brokerage fees, and costs for additional services, are defined in the Price List, which is part of these Terms.
The Broker can request prepayment for additional expenses if explicitly stated in the agreement.
The Broker is entitled to brokerage fee if related persons of the Principal (spouse, descendants, parents, etc.) conclude the mediated transaction.
If the Principal concludes a transaction within 6 months after termination of the mediation agreement that is a direct consequence of the Broker’s mediation, they must pay the full brokerage fee unless otherwise agreed.
The Broker or subcontractor does not have the right to a fee if they conclude the contract in their own name with the Principal.
The Principal bears the cost of obtaining necessary documentation proving ownership unless otherwise agreed.
The Broker may grant a discount on brokerage fees.
5. Liability for Damages
The Broker must act with due care in all mediation activities.
The Broker is not liable for the performance of contractual obligations by either party in the transaction.
The Broker is not responsible for the quality of the property or hidden defects, except if the seller notified the Broker in writing of hidden defects and the Broker concealed this from the buyer.
6. Termination of Mediation Agreement
The mediation agreement is concluded for a specified period, which if not agreed otherwise, is two years.
The agreement terminates by concluding the mediated transaction, expiration of the term, or termination notice by either party in writing or electronic form.
Termination does not require justification and is effective upon delivery to the other party.
Upon expiration or termination, the Principal must cover all incurred costs and fees due to the Broker according to the Terms and Agreement.
7. Final Provisions
Matters not regulated by these Terms or the mediation agreement shall be governed by the Law on Mediation in Real Estate Transactions and Leasing, other relevant laws, and the Law of Obligations.
These Terms enter into force on April 3, 2025.
8. Brokerage Fee Amount
8.1. Price List
Sale: 2% of agreed price, paid by Seller, due at pre-contract/contract
Purchase: 2% of agreed price, paid by Buyer, due at pre-contract/contract
Lease: 100% of first monthly rent, paid by Lessor, due at contract
NOTE:
Anything not stipulated in this Price List shall be directly agreed upon with the authorized representative of the broker.
The Principal shall agree with the broker, either orally or in writing, on the amount of compensation for additional services performed by the broker for the Principal, depending on the type and scope of the services.
In accordance with Article 34 of the Foreign Exchange Operations Act, payment for all services shall be made exclusively in the equivalent amount in Serbian dinars, calculated at the middle exchange rate of the National Bank of Serbia on the day of payment.
CITY SPACE REAL ESTATE D.O.O.
Bulevar Vudroa Vilsona 17/209, Beograd
PIB: 114874880; MB:22083627
Tel: 0648161061; E-mail: office@cityspace.rs
Register no: 1981