If I cancel my agreement with my realtor after 8 mos then sell my home on my own w/in six mos, will my former realtor be entitled to a commission?

Asked by Homeowner 11, Illinois Wed Aug 11, 2010

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Shawn Ryan R…, Agent, Belleville, NJ
Sat Dec 10, 2011
not at all. not commission is due to the realtor...unless the buyer is someone the realtor previously brought to you.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Wed Aug 11, 2010
Make sure you double check your listing agreement as it will spell out, for what you owe the listing agent a commission. Usually you will owe a commission for a certain period of time, and since you mention 6 months I am assuming that might be the term in your listing agreement, but it usually refers to those buyers that have seen and have been shown the property during the listing period.....

But make sure!

I am curious why you think that you will be able to sell your home on your own within 6 months, when within
8 months with your Realtor you were not able to sell it yet.... It is a difficult market, in other words it is a buyers market, many homes on the market and not enough ready and willing buyers.... so the time on market is long, much longer than it used to be unless the home is exceptional in style, upgrades, location, floor plan and at a super competitive price....

So make sure to check your listing agreement and the part with the protection period after end of listing AGREEMENT and be careful who the buyer is going to be....

Good Luck to you!
Edith
YourRealtor4Life
Your chicago and Northshore expert
0 votes
Bill McQuown, Agent, Mission Viejo, CA
Wed Aug 11, 2010
Refer to your listing agreement. In most cases you will not, only if the agent is specific to potential buyers that have already seen the home.
0 votes
Thom Colby, Agent, Irvine, CA
Wed Aug 11, 2010
Home 11

Why do you want to cancel with this agent?

Read your Listing Agreement - there should be sections in it that specifically address this question and timeframes after cancellation of lIsting under which you will owe the commission. In general, if ANY agents showed the property to a Buyer who ultimately buys it (within the timeframe specified), the commission is due - Here in California, Brokers are obtaining judgments and attaching open escrows to collect the commissions.


Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. There is NO benefit to the Seller or Buyer but only benefits the Agent.
888-391-5245 Direct Cell
THOM@THOMCOLBY.COM
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0 votes
Carole Higgi…, Agent, Suttons Bay, MI
Wed Aug 11, 2010
Dear Homeowner 11-
This will be governed by your original listing contract. In Colorado we have what we call a holdover period where the agent can stipulate whether or not you will owe commission if the property is sold after the listing agreement expires and typically there are other details such as - if it was sold to someone to whom the agent had initially shown the property and if it was re-listed with another agent. Read the contract carefully- if you aren't sure I would call the agent's employing broker and ask him or her directly. If you don't get an answer there contact an attorney as not knowing could be a costly problem.
Best of Luck to you
Carole & Greg
0 votes
Suzanne Hami…, Agent, Orland Park, IL
Wed Aug 11, 2010
You need to check your listing agreement with your Realtor. Often there are clauses that provide remedies for commision to Realtors regarding someone who expressed interest or who may have seen the home during their listing period and buy thereafter. Often they are not as long as six months after and usually they only apply to those who expressed interest or saw the property during the listing phase.
0 votes
Pemberton Ho…, Agent, Apple Valley, MN
Wed Aug 11, 2010
In Minnesota, our listing agreement has a clause that if you sell your home to anyone that had looked at it, called about it, made any kind of contact regarding your home during the time that it was listed with your agent, you could owe your agent that commission. However, it is your agent's responsibility to provide you with a list of those prospects (any of the sign calls or agents that showed it) within 72 hours after the cancellation/expiration.
0 votes
Realtor Carm…, Agent, Marietta, GA
Wed Aug 11, 2010
It could be possible! You will need to read your Listing Agreement very carefully. Look for the survival clause, commission and seller default paragraphs specially.
0 votes
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