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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Realtor Commission Obligation Posted by Travis-CA on June 20, 2003 at 0:46 AM In Reply to: Realtor Commission Obligation posted by Newbie on June 19, 2003 at 9:56 PM : Hello : We heard of a house for sale from the sellers brother : But the house is currently listed by a realtor BUT the listing is almost expired with no fruits from the listing - - : : Does the realtor have any recourse if we just wait out the listing and do a FSBO? : Especially since they have done little if anything for the seller??? and we learned about the place in another way??? : Thnak you for the Help. =-=-=-=-=-=-=-=-=-=-=-=-=-= The first thing you need to find out is what type of listing the owner signed with the agent. If the owner signed any other listing than an “exclusive right to sell” such as an “open listing” or “exclusive agency listing”, the owner may sell the home on his own during the listing period and not owe the agent a commission as long as the agent was not the “procuring cause”, in other words as long as the agent did not initiate an uninterrupted series of events that led to the sale, the agent is not entitled to a commission. If the listing is an exclusive right to sell, then the owner must wait until the expiration of the listing to sell without a commission obligation to the agent. If the listing contained a “safety clause” initialed by the owner, the agent must furnish the owner with a list of all prospective buyers that the agent introduced to the property during the listing period, this list must be delivered to the owner within 5 calendar days after the expiration of the listing for the safety clause to be enforceable This clause entitles the agent to a commission if the owner later sells the property to a person on this list within a specified time frame after the listing expiration. You didn’t mention what state you are in, so I am assuming California Hope this helps, Travis Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hello : : We heard of a house for sale from the sellers brother : : But the house is currently listed by a realtor BUT the listing is almost expired with no fruits from the listing - - : : : : Does the realtor have any recourse if we just wait out the listing and do a FSBO? : : Especially since they have done little if anything for the seller??? and we learned about the place in another way??? : : Thnak you for the Help. : =-=-=-=-=-=-=-=-=-=-=-=-=-= : The first thing you need to find out is what type of listing the owner signed with the agent. If the owner signed any other listing than an “exclusive right to sell” such as an “open listing” or “exclusive agency listing”, the owner may sell the home on his own during the listing period and not owe the agent a commission as long as the agent was not the “procuring cause”, in other words as long as the agent did not initiate an uninterrupted series of events that led to the sale, the agent is not entitled to a commission. If the listing is an exclusive right to sell, then the owner must wait until the expiration of the listing to sell without a commission obligation to the agent. : If the listing contained a “safety clause” initialed by the owner, the agent must furnish the owner with a list of all prospective buyers that the agent introduced to the property during the listing period, this list must be delivered to the owner within 5 calendar days after the expiration of the listing for the safety clause to be enforceable This clause entitles the agent to a commission if the owner later sells the property to a person on this list within a specified time frame after the listing expiration. : : You didn’t mention what state you are in, so I am assuming California : Hope this helps, : : Travis Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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