Home Selling in 96816>Question Details

Carlent44, Home Seller in 96816

we have a contract with a real estate company for our property and it expires soon. Our agent, the buyer's agent and an interested party had a

Asked by Carlent44, 96816 Sat Jun 5, 2010

meeting to discuss a possible sale. What happens if the potential buyer offers a contract after my listing expires. Is my current agent still entitled to commision?

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8
Debra (Debbie) Rose’s answer
Carleen - Keep your eye on the big picture.

You want your home sold.

The answer to your question is , Yes!.............. not only would your agent legally be entitled to the commission (as mentioned below, read your listing agreement to verify that), but your agent will certainly have earned the commission, especially if this offer comes together within a few days or weeks of the listing expiring.

If by any chance the buyer's agent approaches you after the listing is up, and tries to cut out your listing agent - do not be a party to that. Not only would I be wary of doing business with someone who suggested that, but you (may) have a legal obligation to your listing agent (not to mention having an ethical one, too).

Good luck , and I hope they make an offer!
1 vote Thank Flag Link Sat Jun 5, 2010
There is a protection period in the listing agreement and the listing agent should send you a list of brokers/clients that were procurred during the listing of the property within so many days of the listing expiring. Read your listing agreement for the specific details. If you have initiated contact of another agent or company during the listing period, that is your choice, however, it is unethical in our Code of Ethics for a Realtor to solicit you during your listing period.
0 votes Thank Flag Link Fri Mar 1, 2013
Aloha:

My name is Mike Gallagher and I am member of the Honolulu Board of Realtors Ethics Complaints Reveiw Commitee.

All answers to your question thus far are good ones. Please take their advice into consideration before continuing.

You do not want to get involved in something without fully exploring the consequences or looking at the unintended consequences which might follow.

Good Luck

Mike Gallagher, Broker in Charge, Abe Lee Realty
Ethics Complaints Review Commitee Member, Honolulu Board of Realtors
0 votes Thank Flag Link Sun Aug 1, 2010
In Hawaii , you do have procuring cause if brought in front of the local board . If the agent showed the property herself to the client she could ask for the commission if she can prove it . A case was just settled that they awarded the commission to the procuring agent who was not the listing agent , but just showed the property . However , it was shown that she had registered the client with the listing agent via email and had shown proof . If your agent has a listing contract there is in the contract a ' protection period ' . The days that you agreed to , will cover her , if she procured the buyer by showing the client the property , an will protect her right for the commission . The idea here is to sell the property , you shouldn't have to worry about this but it is good to know what is happening .

Aloha , Robert Huber RA SFR
0 votes Thank Flag Link Wed Jul 28, 2010
Usually, sure. That's not a problem, is it?
0 votes Thank Flag Link Sat Jun 5, 2010
If your home has been on the market a while, then the Realtor has been spending a good deal of time and effort on marketing. The brokers, Realtors, and buyers that have become aware of that property, have contacted your Realtor, and may have even seen the property....all those people are part of the "protected" list of prospective buyers.

Your Realtor, in order to preserve their protected status, is required to provide you with a copy of this list ("read your paperwork") within a certain time period.

You should also know that it is not uncommon for buyers to think that they can wait until after the listing expires, then approach the seller directly to "save the cost of commission". However, the truth is that this is illegal and unethical.

Good luck. I would focus more on seeing if your Realtor can help the buyers write an offer.
0 votes Thank Flag Link Sat Jun 5, 2010
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
There is a paragraph in most standard listing agreements that do detail you are responsible for paying commission up to __ months after the expiration of the listing agreement unless you sign a listing with another broker. In most case sit is either 3 or 6 months, check you rcontract to be sure of the time on your contract. good luck with your sale
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Jun 5, 2010
Hi there, very good question - generally a listing agreement will provide protection for commission for a period of time after the listing expires for transactions involving buyers introduced during the listing period. Check your listing docs for details.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Sat Jun 5, 2010
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