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Old 07-01-2017, 05:51 PM
 
8,559 posts, read 12,327,971 times
Reputation: 16467

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Quote:
Originally Posted by little pink View Post
I'm sorry I asked, just because of these horrible comments from all of you real estate professionals I will make sure that Redefy sells my home and gets the commission , I don't have to accept offers from anyone else . Have a nice day ~
I don't know why you're getting huffy just because people have taken the time to give you accurate information. I think that you missed 2binDenver's point about the contract being filled out incorrectly. The contract states that the brokerage firm will pay cooperating brokers 3% of the gross sales price (or 2.75% if they're acting as a transaction broker), yet they have only contracted to charge you $3,000--so how are they going to pay the 3%? Now, you may go ahead and pay the 3% willingly (and not according to the terms of the contract), but legally you really wouldn't be obligated to do so. It's rather universal that brokers can only receive a commission through a written agreement. A Buyer's Agent would have no such written agreement with you for the commission...therefore they could not legally require you to pay such commission.

I think your reaction was simply a misunderstanding of the comments which have been made to you. Regardless, good luck with the sale of your house.

Quote:
Originally Posted by little pink View Post
*
7. **** COMPENSATION TO BROKERAGE FIRM; COMPENSATION TO COOPERATIVE BROKER. Seller agrees that any Brokerage Firm compensation that is conditioned upon the Sale of the Property will be earned by Brokerage Firm as set forth herein without any discount or allowance for any efforts made by Seller or by any other person in connection with the Sale of the Property.
******* 7.1. * Amount.* In consideration of the services to be performed by Broker, Seller agrees to pay Brokerage Firm as follows:
************ 7.1.1. Sale Commission. (1) n/a% of the gross purchase price or (2) n/a, in U.S. dollars.
************ 7.1.2. Lease Commission. If the box in § 3.5.2 is checked, Brokerage Firm will be paid a fee equal to (1) n/a% of the gross rent under the lease, or (2) n/a, in U.S. dollars, payable as follows: n/a.
************ 7.1.3.*Other Compensation. $3,000 flat fee, full service. .
******** 7.2. Cooperative Broker Compensation. Brokerage Firm offers compensation to outside brokerage firms, whose brokers are acting as:
************* *Buyer Agents: 3.0*% of the gross sales price or n/a, in U.S. dollars.
************* Transaction-Brokers: 2.75*% of the gross sales price or n/a, in U.S. dollars.
******* 7.3. * When Earned. Such commission is earned upon the occurrence of any of the following:
*************** 7.3.1. Any Sale of the Property within the Listing Period by Seller, by Broker or by any other person;
*************** 7.3.2. Broker finding a buyer who is ready, willing and able to complete the Sale or Lease as specified in this Seller Listing Contract; or
************* * 7.3.3. Any Sale (or Lease if § 3.5.2 is checked) of the Property within 30 calendar days after the Listing Period expires (Holdover Period) (1) to anyone with whom Broker negotiated and (2) whose name was submitted, in writing, to Seller by Broker during the Listing Period (Submitted Prospect). Provided, however, Seller Will* Will Not owe the commission to Brokerage Firm under this § 7.3.3 if a commission is earned by another licensed real estate brokerage firm acting pursuant to an exclusive agreement entered into during the Holdover Period and a Sale or Lease to a Submitted Prospect is consummated. If no box is checked in this § 7.3.3, then Seller does not owe the commission to Brokerage Firm.
********* 7.4. ** When Applicable and Payable. The commission obligation applies to a Sale made during the Listing Period or any extension of such original or extended term. The commission described in § 7.1.1 is payable at the time of the closing of the Sale, or, if there is no closing (due to the refusal or neglect of Seller) then on the contracted date of closing, as contemplated by § 7.3.1 or § 7.3.3, or upon fulfillment of § 7.3.2 where the offer made by such buyer is not accepted by Seller.
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Old 07-01-2017, 09:26 PM
Status: "Open for work" (set 5 days ago)
 
Location: Just south of Denver since 1989
11,822 posts, read 34,341,995 times
Reputation: 8950
Her soon to be brokers advice is worth more to her than mine. Although the she has paid the same to both.

I don't spend time here because it fills my pockets. I do it to set the record straight or point people in the right direction. I treat others like I want to be treated.
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Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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