Moving in New Jersey>Question Details

Candynj, Other/Just Looking in Piscataway, NJ

My house was listed with an agent for about 6 months. The contract with the Real Estate agency and the agent expired. Within days, I received a

Asked by Candynj, Piscataway, NJ Mon Mar 1, 2010

call from another agent who was bringing a buyer. Since my contract with the other agent had expired, i felt that there was no further obligation to him, I had to list my home with the new agent in order to "make the deal legal". Her commission was much less than the going rate (and the rate that I had agreed to with the other agency). What are my obligations to my first agent? If there are none, what would be a suitable amount to compensate her for her time. (she had brought a similar offer to me earlier in the sales cycle but I was just not ready to settle at that price).

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In NJ there are no requirements to list your house to "make a deal legal", they could of had you sign a one day showing agreement, but regardless you got a new deal so it worked out for you. Also you cannot pay the old agent, any referral fee has to go through the broker themselves then divided to the broker & the agent. a typical fee could be 25 percent of the new commission but you have to have put that in the agreement with the new agent already - paying it out of their commission. Good luck. Helen
0 votes Thank Flag Link Wed Feb 16, 2011
If it's a NEW BUYER, someone who had not seen your house during the original listing period, there is no obligation to the original listing agent.

Remember, if you list with the agent that has a buyer, she/he is acting as a disclosed dual agent. Info on NJ agency relationship is in the link below...

See this link for an explantion...

http://www.jerseyshoreviews.com/nj-agency-law.asp

Ask the buyers agent to disucss commission, or if you think you can do it, contact an attorney and go it alone!

Good Luck!

Laura Giannotta
Keller Williams Realty - Atlantic Shore
0 votes Thank Flag Link Mon Mar 1, 2010
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