 |
Agent Won’t Let Go |
| |
 |
Dear Ms. Lank: My son had a real estate agent come to his condo on a Sunday in order to list it for sale. He signed a listing contract but that night decided he did not want to list the property, although he still may sell it in the near future. He contacted the agent the next day (Monday morning) and told the agent this. The agent essentially said "too bad and if the property sells in the next six months, we get our commission.” Isn't there a grace period on the listing contract, like most contracts, that allows cancellation within a couple days? If my son sells the property without using a real estate agent, does this agent still get a commission for doing nothing? |
| |
| |
 |
The homeowner always has the right at any time to cancel the agency given to a broker. Your son might be held liable for any out-of-pocket expenses the agent has had, advertising for example. It's possible that he's not talking with the principal broker, the one legally responsible for the whole office. That's the person to contact now. If he's already dealing with the managing broker, then it's time to consult an attorney. The contract may say your son could indeed be held responsible for payment of a commission no matter how the place is sold. That means it's important to get the contract voided, in writing, before doing anything else. |
| |
|
Edith
Originally published on September 11, 2005 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
