In the listing agreement with the previous Realtor, there is a section explaining the 1 year protection for clients that have previously viewed and/or negotiated on your home. The previous agent will get the commission if any of these protected buyers purchase your home. This is common practice for the realtor to send you a list of protected buyers. Refer to lines 34 - 38 and lines 61 - 65 of your listing agreement. When listing the home with a new Realtor, this list must be passed on to the new Realtor, so that they are aware of the protected buyers and make a reference to it in the new listing agreement.
Feel free to call or email if you would like to discuss this further, or are looking for an agent to relist the property.
I wish you good luck in getting the home marketed and sold.
Judy Braund, Keller Williams Crossroads, 608-235-0431, firstname.lastname@example.org
Yes, Per the listing contract that your parents signed, the agent procured these buyers so she should be paid if any of them decide to purchase the home. Your parents will also want to be sure to disclose these buyers to a new agent if they decide to re-list their home.
If you have any other questions, fell free to email ,email@example.com or call 608-770-1140.
Donna & Dan
If you have further questions, just give a call.
Susan Oshman, Broker Associate
Madison's Alternative, REALTORS LLC
Keller Williams Realty
1 N Pinckney Street Suite 200
Madison WI 53703
These buyers are protected for up to one year after the original contract ends. If you don't understand the language, you should do as others here have suggested and contact and attorney, but it is spelled out pretty clear in the listing contract.
This law was put into place for just this purpose. Years ago some sellers would list their home with an agent and take advantage of all they had to offer in terms of bringing a buyer to the table. Then the buyer and sometimes the seller would contact each other and make a "back room deal" to wait until the listing expired. That way buyer would pay less and seller would get more.
It is unfortunate that because of the actions of a few, we are forever having to institute new policies and procedures. It makes our job more and more difficult. A closing file used to contain maybe 12-15 pages total and now they are frequently 3-4 inches thick because of it.
I hope this helps explain what might sound unreasonable to the average person, but nevertheless is true.