Posted by Ed Copp (OH) on July 24, 2003 at 16:05:52:
The only way to find out what your listing contract says is to read it. We do not have it so we can’t read it.
What you are asking for is legal advice on a specific case. It would be appropraite for you to have a lawyer read the contract and advise you. There are differnt kinds of listing contracts, and there may be parts of your contract that require a legal opinion.
In general when you sign a listing contract, and buyer and seller come together during the contract period, the commission is earned. That is what a broker gets paid for, bringing the buyer and seller together.
I plan to go back to France.
I should receive my work contrat within 1 or 2 weeks.
I contacted a real estate agent to put my house for sale.
I signed all the documents in advance (agreement on a listed price of 758,888, commission of 4.5% or 3.5% if he also is the buyer agent).
I asked him not to put the house for sale until I call him to let him know that I got the work contract and we can proceed.
He has not done anything yet (advertising, photos, etc…) but probably has started the documentation work.
Now I have the brother of my neighbor ready to buy the house.
He would like to do it between us without real estate agent to save on the commissions.
His father in law has a real estate license and would do the paper work for free.
Is it legal?
Can I just say to my seller agent I don’t want to proceed and then sell the house directly to my buyer?
If Legally I am stuck with my seller agent, for how long or can I renegociate the commission because I bringthe buyer and he does not need to do anything?