Nancy Dole, Home Seller in Massachusetts

I was told that 6 months after my contract with my broker ends, I can sell my property to a buyer who was

Asked by Nancy Dole, Massachusetts Sun Jul 20, 2008

brought to me by the broker, and with whom an agreement was not reached. Is that correct? And is it also correct that I can sign a new contract with that broker that excludes the formerly interested party?

Help the community by answering this question:

Answers

8
Nancy, you are correct. You can sign a new contract with any broker that agrees to exclude a buyer that you were working with... but... in your heart of hearts, would you really do this to an agent that put their heart and soul into marketing your property, held open houses weekend after weekend, then all of a sudden after 6 months of your agents hard work, the buyer resurfaces.
Please think about it, what if you were the agent and you depended on the income to feed your family? Would you at least consider offering your agent "something" if your buyer resurfaces?
Second if the buyer was brought to you by the broker 6 months ago, why don't you just do the right thing and get the broker to help you put together the deal for a fee?
If your boss made you work overtime and then your paycheck didn't reflect the pay for the overtime, would that bother you?
1 vote Thank Flag Link Thu Sep 11, 2008
Nancy just rember that karma can be brutal.
0 votes Thank Flag Link Tue Jul 22, 2008
Theoretically yes you can sell it to that person. However that buyer is probably tied to an agent so you will be most likely paying the buyers agent.
For the singing of a new agreement and excluding the buyer from the contract not likely to happen, but you could try.
I do wonder about your ethics though.
0 votes Thank Flag Link Tue Jul 22, 2008
Any brokerage owner in Massachusetts would have to be extremely stupid to sign a listing agreement that excludes a buyer brought in under their previous listing contract. Unless I don't fully understand your question, the unabashed lack of moral standards astounds me!
0 votes Thank Flag Link Mon Jul 21, 2008
Wow....your broker, who has spent money and time on marketing, procures a buyer...you now want to pursue the buyer and not pay the broker (you would pay someone else to represent you? ) and if the deal does not go thru, you want to hire your original broker again?

Why was the agreement not reached? Is this buyer telling you to deal directly and save the commission.....giving them the commission in the price? If so, who is going to represent your interest? You're going to trust a buyer who advises you to break integrity with your broker to represent you in a transaction?

Proceed with extreme caution.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sun Jul 20, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
Nancy
You need to consult an attorney for legal advice. This is not legal advice.
You should be able to write a contract that excludes the seller from paying a commission IF this specified person buys the property.
However, you might want to have some representation in this transaction (unless you like gambling).

Also, normally in the listing agreement it specifies the protection period (the duration) and when the Realtor is required to submit a list of those people who are "protected".

Aside from the legal aspects, the moral perspective is that if this broker brought you a buyer, with whom you may have said something like "So, if we omit the Realtor from this transaction, we can do this cheaper for both of us", I personally have some issues:
1. So you want to avoid paying someone a lawfully earned commission? How would you feel if someone did that to you?
2. You are considering having the broker sign s NEW listing agreement and EXCLUDE this person? Every though that broker brought the buyer?

In Rotary Interational we have a Four Way Test
Of the things we think, say, or do
First, is it the truth?
Second, is it fair to all concerned?
Three, will it build goodwill and better friendships?
Fourth, will it be beneficial to all concerned?

You might want try applying these questions to your situation.

Good luck
0 votes Thank Flag Link Sun Jul 20, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Confused most listing agreements have a protection period for the prior broker. Review your listing agreement. determined what is specified in that contract
http://www.homes-for-sale-dallas.com http://www.lynn911.com
0 votes Thank Flag Link Sun Jul 20, 2008
I am a little confused ... so, are you asking if you can do a direct deal with the buyer (w/no former or current broker) after 6 months of your broker agreement terminating? The answer to that really depends on the language of your broker agreement. If that is what it says then you should be in the clear. I am not sure I understand the second part of your question ... if you can clarify it might help me/us answer your question better.
0 votes Thank Flag Link Sun Jul 20, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer