Expired Buyers Agent Agreement- Need Help !

Asked by Garden Girl, South Carolina Wed Jun 15, 2011

- We signed buyer agent agreement, during our working relationship w/agent we went under contract for a house, due to bank appraisal issues we ended contract
- Buyer agent agreement ended April 1, we did not extend contract or resign new contract
-On expired Contract "broker protection period" is blank for # of days
- Property in which we previously cancelled contract has now been relisted For Sale by Owner, for a reduced price
-Question is~ Because contract is expired & # of days for broker protection period is blank................. If I pursue this house do I owe the agent a commision?

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Answers

3
Tony McMahon, Agent, WHITE PLAINS, MD
Wed Jun 15, 2011
Is there a reason you are not wanting to include the agent when you attempt to purchase the house again? Isn't the seller paying a commission?
0 votes
Gerard Carney, Agent, Spring Hill, FL
Wed Jun 15, 2011
You are free and clear to pursue this home under reduced price, the Agent should have been all over you the week before the agreement was due to expire and got you to extend this agreement for another 3 or 6 months, they did not fill in the Broker protection period, so oh well! Their lose is you gain! Go for the house and Enjoy you new home if you get it! I would suggest no matter what, send the agent at least a token for their time, like maybe a gift card from Star Bucks or Dunkin Donuts, the amount is your choice!
0 votes
Bill Adams, Agent, Cornelius, NC
Wed Jun 15, 2011
Garden Girl,

I would consult a SC Broker or real estate attorney just to be sure but if the buyer agency agreement is expired and the agent failed to complete the blank in the agreement that states whether he is due a commission during a certain period of time after your agreement expires then you shouldn't have pay it. However, be especially careful if there is a clause in the buyer agency agreement that mentions that you didn't close because you defaulted in some way on your purchase agreement. I say this since you said you ended the purchase contract so you need to make sure you had a valid reason for ending the purchase contract. If you didn't have a valid reason for ending the purchase contract and it happened during the time the buyer agency agreement was in force then the agent may have a case for compensation. I would say it would be unlikely but you never know.

Good luck!

Bill Adams
Owner/Broker
Allen Adams Realty
0 votes
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