Selling Properties in Japan

Step 2 List your property for sale and advertise

Once a selling price agreed upon and set, you will need to request that the property be put on sale and to make a binding mediation agreement with an agent(s) who will act as an intermediary to sell your property.

Types of mediation contracts

There are three types of mediation contracts: "non-exclusive agency listing", "exclusive agency listing", and "completely exclusive agency listing".

	Listing agent / Effective period	Selling to a buyer whom the seller finds on his own	Registration of the property to *REINS	Reporting client responses
Non-Exclusive	Multiple agents / 3 months	Acceptable	Optional	Not required
Exclusive	1 agent only / 3 months	Acceptable	Register within 7 days of signing the mediation contract	At least once every 2 weeks
Completely Exclusive	1 agent only / 3 months	Not acceptable	Register within 5 days of signing the mediation contract	More than once a week

* REINS: Real Estate Information Network System designated by MLIT (Ministry of Land, Infrastructure, Transport and Tourism).

Advantages and disadvantages of each mediation contract

	Advantages	Disadvantages
Non-Exclusive	Property is widely advertised allowing the seller to request multiple agents to sell the property. Since it is not required to register with REINS, the seller can put the property up for sale without advertising. (The neighbors will not be aware.) The seller can sell the property to a buyer that he/she finds on their own.	The reporting of the inquires to the owner about the property is not required. Agents tend not to actively advertise since the chance of closing a contract is lower in comparison to an exclusive property.
Exclusive	The requested agent actively advertises the property. The seller can sell the property to a buyer whom he/she finds on their own.	The reporting of the inquires to the owner about the property is less frequent than a completely exclusive contract. Higher dependency on the agent
Completely Exclusive	The requested agent actively advertises the property.	The seller cannot sell the property to a prospective buyer whom he/she finds on their own. Higher dependency on the agent