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I am the buyer's agent and want to know if I am also entitled to a commission when the buyer agreed and signed to the contract negotiated price but failed to negotiate the inspection remedies. He was given an extension of 10 days but just never signed it so we got our deposit back and moved on to find another home.
I'll say most likely not but the most accurate answer is that it depends on if you had a buyer broker signed agreement and, if so, what the terms stated in the agreement. It sounds as though you are new (nothing wrong with that) and you should discuss this--more for your understanding--with your broker.
If the papers were not properly drawn and signed, the answer is NO.
The obvious situation is, you as the buyers agent, did a very poor job of drawing up the original contract and left out a very important factor, and then when there was an extension drawn up you did not get the buyer to sign.
It is very obvious to us that have/had been in the business for any length of time that you are the one that screwed up, and you very definitely do not have a commission coming. It would be a stupid move on your part to not get your buyers signature on what is considered a counter offer or change in the contract due to you incompetence in not having drawn a proper contract which would have included the time period for inspection.
When you screw up drawing a proper contract and then failed to get a signature on the amended contract causing the sale to cancel, you have your nerve to even think or suggest you had earned your commission.
If you are not well enough trained to handle drawing the right contract and getting signatures from the buyer, you should not be out there selling real estate.
You get your commission when the sale is done and over. You didn't get the house through escrow; you didn't earn your commission.
If there was a flaw in the paperwork, that was your bad. Although, reading that several times, I suppose you might mean that the house failed inspection and buyer didn't negotiate to have repairs done, so the sale fell through.
Either way, your client didn't buy a house. The seller didn't sell a house. Nothing happened that would make you eligible to earn a commission.
I'm going to add this: I don't know if you are new or not, but getting a purchase contract all signed and agreed to is just the beginning of the agent's work. Once the contract is settled, it is your job to ramrod the sale through escrow.
The buyer wants to buy, the seller wants to sell, the bank wants to make the mortgage, the escrow officer is working to make sure everything goes smoothly, and still, with everyone wanting it to work, sales fall out of escrow all the time. The agents are supposed to keep on top of what is happening. You have to make sure your client gets all paperwork, supplies all information and documents, and makes it to any signings. You keep track of deadlines to make sure everything on your end is done right and on time.
The seller's agent is supposed to be doing the same on her end, but the world is full of lazy real estate agents, so you might end up doing both sides of the sale to make sure it goes through.
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