Home Selling in Austin>Question Details

Hans, Home Seller in Austin, TX

I rented my house . Do I have to pay my broker the full 'for sale' fees when the renter buys after the lease expires?

Asked by Hans, Austin, TX Sun Jan 30, 2011

Protection period in the 'for sale' listing was 60 days (expired). I have to pay leasing fee again if I renew the lease. I want to sell-by-owner.

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Answers

8
It depends on how the lease was written. I would pour over the contract quite diligently. When selling your home it's not all about the fee's it's about covering yourself from future lawsuits.

1) I would consult with a competent real estate attorney if you have doubts about the process.

2) I'm sure a Realtor would walk through the project at a discounted rate since they are not having to market the property.

3 ) A good title company should have a fairly good idea of how to walk you through the process as well.


If this is your first sale I strongly suggest you seek competent advice. It is not a difficult process to sell a home on your own, but it can be quite lengthy and there are many ways you can fall into a legal trap. There is a reason that we Realtors have to have a licence to sell. It's not for everyone but it's not something you can't do on your own. Good luck on your transaction, I hope you find the information you're looking for. If you would like me to refer you to some competent professionals I'd be happy to email you some contact info.
1 vote Thank Flag Link Fri Feb 25, 2011
Hans,
Hope you found your answer. If you made the connection with the renter to buy the home, it's all you. If your agent connected you and understood that the tenants he brought were going to buy the home, she/he brokered the deal. I do like Tony Z's thoughts - seems he has the client interest at heart.

Good luck!
1 vote Thank Flag Link Mon Feb 21, 2011
That answer is in your listing agreement; if you have one; if you don't have a listing agreement, but have a verbal understanding, then that would be your answer....and like all verbal understandings they are open to interpretation. More importantly, the Statue of Frauds requries all real estate transactions over 1 year to be in writing; so again i send you to your listing agreement. However, I think it would be good for you to at least counsel with a REALTOR, NAR statistics show that they save you inspiring FSBO's money, plus your transaction is represented and insured. Short answer, is NO; unless your listing agreement states otherwise. http://www.realtysail.com
0 votes Thank Flag Link Mon Jan 31, 2011
Hans,
This forum is a great place to pose simple real estate questions. This question is far to complex and I do not have enough information to answer the question.

The way you posed the question, you've now moved from a real estate question into a legal question.

Bill
0 votes Thank Flag Link Mon Jan 31, 2011
You will want to check your listing agreement.
Even if not required, you may still want to use your agent
to help prepare all the paperwork and help get a buyer closed.
I have 10 simple questions that agents answer every single day
that a normal home seller just doesn't run across or know the answers to
that can make the difference between success and failure of the transaction.
Just finding the buyer is about 10-30% of the transaction these days.
For example do you know the best way for your home to meet appraisal
when the buyer's lender's appraiser comes out? Should you be there or not?
Is there a way for you to influence the appraisal in a positive or negative way?
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Sun Jan 30, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Hans,

That is going to depend on your agreement with the agent. Check your lease and rental listing agreement where these terms should be clearly outlined.
0 votes Thank Flag Link Sun Jan 30, 2011
Did your broker work hard to get your home rented? Do you think that since he or she worked hard to do this that they deserve a commission if the people there decide to buy the property? After all, it was the broker (and his advertising or contacts) that bought you guys together to begin with. Correct? Also, keep in mind that the commission you paid your broker for the rental, probably wasn't sufficient to pay for your broker's gas money. All of this is the real world. The only way your broker really gets paid is if you pay him/her a commission on any future sale. So, ask yourself, do you have to pay him/her? Legally, if your broker didn't include that provision in thelease, than you are not responsible. But, morally, you have to live with yourself.
0 votes Thank Flag Link Sun Jan 30, 2011
Your broker should have explained that to you when you signed the listing agreement. Whatever you signed in that agreement is going to be valid if you sell the house to your tenant. Was it a lease with an option to buy? Do not go into such contract without an attorney's advice. These contracts are complicated and it's worth paying an attorney to draw up such contract.
0 votes Thank Flag Link Sun Jan 30, 2011
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