Terms & Conditions

General Terms and Conditions (GTC) for MorgenStreet

§ 1 General

(1) These General Terms and Conditions (GTC) govern the business relationship between MorgenStreet, Sudetenstr. 17, 61440 Oberursel, (hereinafter “Broker”) and our customers (hereinafter “Customer”).

(2) In these General Terms and Conditions (GTC), the term “Customer” refers to both the seller and the buyer of a property, unless expressly stated otherwise. “Seller” refers to the person, party, or company offering a property for sale. “Buyer” refers to the person, party, or company acquiring a property.

(3) We act as intermediaries between both parties and provide services to both sellers and buyers.

(4) Our activity as a real estate broker consists of identifying or creating a need within an appropriate target group, exploring this need, and subsequently fulfilling it through our services. Our services include the brokerage of real estate (for sale or purchase), based on the proof of the opportunity to conclude a contract or the mediation of a contract.

(5) By using our services, the customer accepts our GTC.

§ 2 Services

(1) We offer our customers consulting and brokerage services for the purchase and sale of real estate.

(2) Our services include, among other things, property valuation, marketing, conducting viewings, negotiation, and support with contract processing.

§ 3 Contract Conclusion

(1) The brokerage contract between the customer and MorgenStreet is concluded only through the use of our services and by written agreement or agreement in text form.

(2) A brokerage contract can be concluded for an indefinite period or for a specified period.

(3) During the term of the brokerage contract with us, the customer undertakes not to commission other brokers with brokerage activities or proof activities regarding the contract object. In the event of a culpable breach of this provision, the customer undertakes to compensate us for all resulting damages in accordance with statutory provisions.

§ 4 Contract Duration and Termination

(1) The brokerage contract with the seller or landlord has a term of six months and is automatically extended by one month each time, unless one party has terminated the contract in writing or in text form.

(2) The brokerage contract can be terminated by either party with a notice period of four weeks to the end of the month, unless otherwise agreed.

(3) The right to extraordinary termination for good cause remains unaffected.

§ 5 Brokerage Commission

5.1 Calculation of the Commission

(1) The commission is calculated from the purchase price of the property plus any additional services of the buyer to the seller, such as the assumption of land register burdens or compensation for fixtures. A subsequent reduction in the purchase price has no effect on the broker’s commission claim.

5.2 Amount of the Commission

(1) The amount of the commission is based on the percentage of the purchase price agreed in the brokerage contract.

(2) For the sale of real estate:

The brokerage commission is generally between 5.95% and 7.14% of the purchase price including VAT.

This commission is usually shared equally between the buyer and the seller, meaning that both the buyer and the seller each pay 2.975% to 3.57% of the purchase price including VAT.

(3) For the rental of residential properties:

Since the introduction of the “Bestellerprinzip” in 2015, the party who commissions the broker typically pays the brokerage commission. This is often the landlord. The commission usually amounts to 2.38 net cold rents including VAT.

5.3 Due Date of the Commission

(1) Our commission claim arises in accordance with § 652 para. 1 BGB when the contract is concluded as a result of the broker’s proof or mediation. Our commission becomes due upon the conclusion of a legally effective notarial purchase contract, provided this contract is based on our contractual proof or mediation activity.

(2) The customer is obliged to inform us immediately about when, at what price, and with which parties the main contract was concluded. This duty to inform also applies if the main contract is subject to a suspensive condition that has not yet occurred.

5.4 Commission-Creating Main Contracts

(1) A purchase of an ideal or real share in the property, as well as the granting of hereditary building rights or similar rights, shall also be considered as commission-creating main contracts. Likewise, the conclusion of a contract by a natural or legal person who is in a close and permanent legal or personal relationship with the buyer is considered commission-creating.

5.5 Alternative Contract Conclusions

(1) Should a lease, rental, or similar usage contract come into existence through our brokerage and/or proof activity instead of the originally intended purchase contract, the commission claim remains, provided there is no legal exclusion. In this case, the usual broker fee according to § 653 para. 2 BGB applies.

§ 6 Rights and Obligations of the Broker

6.1 Dual Agency

(1) Unless there is a conflict of interest or a statutory exclusion, we are entitled to act on a commission basis for the other party to the main contract. Any dual agency obliges the broker to strict impartiality.

(2) We as brokers are entitled to act for the seller on a commission basis, provided we limit this activity to proof and inform the buyer thereof in writing. This serves transparency and the avoidance of conflicts of interest, while the broker remains obliged to act impartially.

6.2 Confidentiality

(1) The broker undertakes to treat all knowledge gained about the buyer and seller during the execution of the brokerage contract as confidential and not to disclose any confidential information without consent, unless this is necessary for the execution of the contract.

§ 7 Rights and Obligations of the Customer

7.1 Provision of Information

(1) The customer, whether seller or buyer, undertakes to provide us with all relevant information and documents required for the brokerage of the property in a timely and complete manner.

(2) The customer undertakes to inform us immediately of any changes that affect the brokerage of the property.

7.2 Exclusion of Other Brokers

(1) The Customer agrees not to engage other brokers for brokerage and/or verification activities related to the contractual object, and may not commission other brokers with brokerage and/or proof activities regarding the contract object, during the term of the brokerage contract with us.

(2) In the event of a culpable violation of this provision, the Customer agrees to make compensatory payments to us for any resulting damages in accordance with statutory provisions.

7.3 Duty to Notify of Knowledge of the Object

(1) If the broker provides proof of an object that is already known to the buyer, the buyer is obliged to inform the broker of this in writing or in text form immediately.

(2) If the customer is aware of the contract opportunity regarding the offered contract object and the contract readiness of the other party to the main contract (prior knowledge) when concluding the brokerage contract, or if the customer gains this knowledge from a third party during the term of the brokerage contract, the customer must inform us of this immediately.

7.4 Notification of Contract Conclusion

(1) The customer undertakes to inform the broker immediately upon the conclusion of a purchase contract and to provide a complete copy of the contract through the notary.

7.5 Set-off and Retention Rights

(1) The customer may only assert rights of retention or set-off against our commission claim if the customer’s claims arise from the same contractual relationship (brokerage contract) or if other claims are undisputed or legally established.

7.6 Confidentiality of Information

(1) The customer is obliged to treat all information received within the framework of the brokerage contract as confidential and not to disclose it to third parties.

(2) Our property exposés, the property- and contract-related information provided by us, as well as our entire brokerage and/or proof activity, are exclusively intended for the addressed customer as the recipient.

(3) The customer is obliged to handle the information confidentially even after the conclusion of the brokerage contract and not to disclose it to third parties.

(4) If the customer breaches this confidentiality obligation and an informed third party subsequently concludes a contract for the property proven by the broker, the customer owes the commission as if they had concluded this contract themselves.

(5) If the customer culpably breaches this obligation, they are liable to us for damages if the success of our brokerage and/or proof activity is not achieved as a result. If the main contract is concluded with this third party through the unauthorized disclosure of information, the customer is liable to us for the payment of the lost commission.

§ 8 Liability

8.1 Scope of Liability

(1) We are only liable for damages caused by intent or gross negligence.

(2) In cases of slight negligence, MorgenStreet is only liable for damages resulting from the violation of essential contractual obligations (so-called cardinal obligations). Essential contractual obligations are those whose fulfillment makes the proper execution of the contract possible in the first place and on whose compliance the customer may regularly rely.

8.2 Limitation of Liability in Cases of Slight Negligence

(1) In the event of slightly negligent breaches of essential contractual obligations, our liability is limited to the typical and foreseeable damage.

8.3 Exclusion of Certain Damages

(1) Liability for the customer’s lost profits and other financial losses is excluded.

(2) Liability for unforeseeable damages is excluded.

8.4 Disclaimer for Information Sources

(1) Our brokerage and proof activities are based on the information provided to us by our contractual partners or other authorized persons. We do not assume liability for the accuracy and completeness of this information. Errors and interim sales or rentals are reserved.

(2) The property information we provide originates from the seller or from a third party commissioned by the seller. As brokers, we are obliged to pass on this information unchecked and therefore do not assume liability for its accuracy.

8.5 Buyer’s Claims for Damages

(1) Buyer’s claims for damages are generally excluded. This does not apply to claims for damages by the buyer:

• arising from injury to life, body, or health,

• arising from the violation of essential contractual obligations (cardinal obligations),

• for other damages based on an intentional or grossly negligent breach of duty by the broker, his legal representatives, or agents.

8.6 Limitation of Liability for Essential Contractual Obligations

(1) In the event of a breach of essential contractual obligations, we are only liable for the typical and foreseeable damage, unless it concerns claims for damages arising from injury to life, body, or health.

8.7 Scope of Liability Exclusions and Limitations

(1) The aforementioned liability exclusions and limitations apply to the same extent to our employees and agents, as well as all persons who are in any way involved in fulfilling the company’s obligations either legally or contractually.

8.8 Exceptions to Liability Limitations

(1) The limitations of this § 8 do not apply if MorgenStreet has fraudulently concealed a defect or assumed a guarantee.

§ 9 Data Protection

(1) MorgenStreet processes personal data of the customer in accordance with applicable data protection laws, in particular the General Data Protection Regulation (GDPR) and the Federal Data Protection Act (BDSG).

(2) It is necessary for the provision of the brokerage service that data may be passed on to initiate a contract, for example to the seller or to a commissioned notary for the preparation of a notary contract.

(3) Further information on the processing of personal data can be found in our privacy policy.

§ 10 Applicable Law, Jurisdiction, Dispute Resolution

(1) The contract between the buyer and the broker is subject to the law of the Federal Republic of Germany. The statutory provisions on the limitation of the choice of law and the applicability of mandatory provisions, in particular of the state in which the buyer as a consumer has his habitual residence, remain unaffected.

(2) If the buyer is a merchant within the meaning of § 1 para. 1 of the Commercial Code (HGB), a legal entity under public law, or a special fund under public law, the courts responsible for Frankfurt am Main shall have exclusive jurisdiction for all disputes arising from or in connection with the relevant contractual relationship. In all other cases, we or the buyer may bring an action before any court of competent jurisdiction based on statutory provisions.

(3) We are neither willing nor obliged to participate in dispute resolution proceedings before a consumer arbitration board. The European Commission provides a platform for online dispute resolution (ODR): https://ec.europa.eu/consumers/odr. Our email address is: support@morgenstreet.com.