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#1
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owing commissionWhat is the name of your state? North Carolina We signed a listing agreement with a local realtor. The house was not sold, and the agreement expired. About 1 week later, another agent came to our house & stated that he had clients who were very interested in the house. They had seen the house while it was under contract with our listing agent. However, the new agent stated that he could do a one-time listing for a reduced commission, thus voiding the protection period on our expired listing agreement. There was no specified amount of time in the protection period clause on our contract. Since then, the people who want to buy our house have fired their buyer's agent. Now they would like to purchase the house for a reduced rate, as we will not have to pay commission. Will we still owe our listing agent a commission, even though she failed to fill in an amount of time in the protection period clause? |
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#2
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Re: owing commission[quote]Originally posted by befuddled [b]What is the name of your state? North Carolina We signed a listing agreement with a local realtor. The house was not sold, and the agreement expired. About 1 week later, another agent came to our house & stated that he had clients who were very interested in the house. They had seen the house while it was under contract with our listing agent. However, the new agent stated that he could do a one-time listing for a reduced commission, thus voiding the protection period on our expired listing agreement. There was no specified amount of time in the protection period clause on our contract. Since then, the people who want to buy our house have fired their buyer's agent. Now they would like to purchase the house for a reduced rate, as we will not have to pay commission. Will we still owe our listing agent a commission, even though she failed to fill in an amount of time in the protection period clause? **A: yes The time period in the protection clause is moot since the agent would be the procuring cause. |
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