Home Selling in Brick>Question Details

lancaster087…, Home Seller in Brick, NJ

Listing agreement expired today, can you sell the house to a buyer that came to look at the house while the listing was active?

Asked by lancaster08723, Brick, NJ Thu Sep 26, 2013

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16
It should be clearly spelled out in the listing agreement you signed.

As to your question " if someone wants to buy my house 2 months later, and it happens to be someone who looked at it before why should I give any realtor any money" the answer is that they were the procuring cause that lead to you selling. The property was introduced to the buyer due to the efforts of the listing agent's marketing and the buyer's agent showing them your property.

Our listings and most agent's have a 180 day (6 months) broker protection period after the listing expires.

You can sell to anyone you like WHO WAS NOT INTRODUCED to the home by an agent during the period it was listed, but you freely admit this buyer saw the property during listing.
2 votes Thank Flag Link Thu Sep 26, 2013
Introduced by listing agent or any and all agents
Flag Sun Jun 7, 2015
OK...got it procuring clause. But what if a buyer brought to my house by agent is interested in my house a week after seeing it but I have is no listing agreement with the agent. That is, nothing signed and further the agent falsely told said buyer she was my listing agent which she is not since verified that agent did tell buyer she was my agent. Buyer also has a text from agent stating is my listing agent which is not true. Agent lives in neighborhood, heard I might want to sell my house, asked if she could show my property, I said ok but not sure if or when going to sell and agent brought buyer anyway.
Flag Wed May 14, 2014
Really? If you do that you'll need to offer some compensation to the buyer's agent if they come through the MLS. Is it really worth losing this buyer for a minimal percentage you MIGHT save by cutting your listing agent out? Let's say you save 2.5%-3% that way, with carrying cost of your home and your time, are you saving all that much in the effort to stiff your agent? How about the liability you could amass by not having the proper disclosures or the stress and aggravation of dealing with home inspection issues? Typically homes sell for LESS when sold FSBO, you may very well be shooting yourself in the foot. Look this over before you decide to go this way: https://docs.google.com/file/d/0B5tRvOUoTKjQa3lMVVZJZlN5bkU/edit?usp=sharing
Flag Thu Sep 26, 2013
thank you,. that is what I was looking for. I looked at the contract and it said 180 days. I will be doing a FSBO and adverstising in the MLS.
Flag Thu Sep 26, 2013
You can sell to whoever you want. You may owe a fee to the agency who had represented you when the buyer came. It is a commonly used clause to provide a very fair arrangement.
1 vote Thank Flag Link Thu Sep 26, 2013
Deborah Madey, Real Estate Pro in Brick, NJ
MVP'08
Contact
My listing was up dec. 30 2016. When can I sell my home? The interested buyer never went through the home except with me.
0 votes Thank Flag Link Fri Jan 8, 2016
You can but you will owe the realtors a fee. You are opening yourself up to a potential lawsuit if your intent is to cut your former agency out. Most listing agreements have protection clauses in them for such a situation. You would never have known this buyer but for the efforts of your former agency.
0 votes Thank Flag Link Wed Oct 9, 2013
Most listing agreements do have a protection clause in them that states should a buyer be introduced to your home through a Realtor while listed they would be entitled to a commission up to the time the protection clause date expires. Look at your paperwork and see how long your protection clause is for and do the honorable thing..
0 votes Thank Flag Link Wed Oct 2, 2013
Brick,
As you can see, what you suggest is not uncommon.
Just a few years ago, EVERYONE was an 'investor' type expecting agent to drive them about looking at home. As the agent is about to pull from the drive of the viewed home, the 'investor type; shouts...wait...leaps from the car and rushed to front door to hand owner their business card. The back printed read, 'Call me when your listing expires."
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You don't need to be a brain surgeon to realize there are blockheaded investor type and brick minded sellers who celebrate the opportunity to do the wrong thing. What you are unawre of is there is nothing rare or new or novel on ingenious or smart regarding such actiivties. Such action only compels professionals to protect the effort and resouces they have invested in the process of helping an owner sell their home or the agent helping a buyer find a home. The community of professionals understand this also.
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It IS because of the bricks and blocks out there that compel action that results in a 'get real people' response.
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I understand. Folks often think they can eat the meal and not pay the bill. That is essence is what you are attempting to do.
0 votes Thank Flag Link Fri Sep 27, 2013
As you have heard there is often a protection period. Your agent marketed your home to the world. Now perhaps their efforts are paying off though beyond your listing term. If you havent relisted the property and if the prospective buyer would have been using your old agent perhaps they will negotiate a compromised fee with you for this particular buyer. The agents work doesnt end when an offer comes in. If it turns out that you and a buyer have conspired to purchase in such a manner as to merely avoid paying fees due for services rendered,frankly you should be ashamed.
0 votes Thank Flag Link Fri Sep 27, 2013
On the listing agreement, there is a protection period (typically up to 180 from when listing expires) that says: If the Property is Transferred or leased within a period of _____ days after the end of the listing period to a Buyer who was made aware of the availability of the Property during the Listing Period, the Seller shall pay a commission to that listing company.

I hope this answers your question.

Pam Miller
Gloria Nilson & Co. Real Estate
732-320-6238
0 votes Thank Flag Link Thu Sep 26, 2013
I would suggest using caution, read your listing contract carefully, and above all do not miss-interpret what you read in your contract.

If there is a breach situation between you and the agent's real estate company (most contracts are between you and the company not the agent), the consequences of going up against a real estate company especially a large company may get expensive. Please check with your local real estate attorney regarding the contract. Don't be foolish...be wise. Best of luck to you and thank you for the question.
0 votes Thank Flag Link Thu Sep 26, 2013
Your listing agreement should have an agent protection period. It is often 90 or 180 days but it can be anything that you agreed to when you signed the listing agreement. Check your listing agreement for the paragraph that specifies the duration.
0 votes Thank Flag Link Thu Sep 26, 2013
I mean what is the cut off period? 1 month, 2 months, 3 months...at one point one can sell to whomever they want.
0 votes Thank Flag Link Thu Sep 26, 2013
The listing expired with no buyers. We will not be renewing the contract, if someone wants to buy my house 2 months later, and it happens to be someone who looked at it before why should I give any realtor any money.....come on people, seriously.
0 votes Thank Flag Link Thu Sep 26, 2013
Long answer: Because there is a clause in your listing agreement that obligates you to a certain number of days after the listing expires, if you do not list with anyone else. If you relist with another agency, then they will receive the commission. But, if you do not relist and a buyer who came into the property when it was listed with the original listing agent wants to purchase your house within the contract dates of your original listing agreement, you will owe the original agency a commission.
Short answer: You have a legal contract to do so.
Flag Fri Sep 27, 2013
Seriously, you really expect Realtors to tell you how to cheat another Realtor our of a commission? Unless you have a specific buyer in mind why are you asking this question?
Flag Thu Sep 26, 2013
You should read the Broker Protection Paragraph in your listing agreement, this will answer your question.
0 votes Thank Flag Link Thu Sep 26, 2013
If it sounds to you like you are doing something wrong then you likely are. Doesn't this seem wrong to you in some way?
0 votes Thank Flag Link Thu Sep 26, 2013
usually you are still due a commission to the listing agency.

You can list it with another agent for a reduced commission and and then the commission is due to the new agent.
0 votes Thank Flag Link Thu Sep 26, 2013
You can sell the house to anyone you want but the thing that you need to check on is what your listing agreement stated in reference to such situations. The real estate agent could still be owed a commission if it is during the "Holdover Period". Talk to your agent.
0 votes Thank Flag Link Thu Sep 26, 2013
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