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Old 05-27-2013, 10:51 PM
 
5,048 posts, read 6,108,114 times
Reputation: 4113

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Quote:
Originally Posted by RE Skeptic View Post
Dont think the OP was asking for your sympathy, just wanted to know liability of commission.

Selling a home is emotional and people change their mind and "delist". Nothing wrong with it, nor do most "standard" listing agreements prohibit it (as long as you dont relist with some another agent or FSBO to a buyer who was saw the home during the listing period).

OP, not sure about your listing agreement, but many contracts state that the seller is liable for paying listing agent X% commission if agent delivers a ready, willing and able buyer. Technically a sale does not need to occur. But the buyer must be willing to pay list price with no contingencies. Bottom line, if you have a buyer with any contingencies or an offer below listing, you probably are not liable for the commission.

Read the contact, it probably has verbiage to this effect. Also note that the stated commission to the listing agent is probably not broken down into a commission for listing and buyer agent, it is just one total commission (such as 6%). Typically the seller is liable for paying the entire commission (6%) to the listing agent who then pays the buyer agent their share (some predetermined amount that the seller may not know). If their is no buyer agent, you still owe the listing agent 6% (agent get an extra 3%) unless specified otherwise. Most sellers dont realize this.
I believe I agree with this.

Another issue...what's this about the listing agent deciding when to look at offers? If she's that much in control, watch out.
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Old 06-08-2013, 05:21 PM
 
Location: Pasadena, CA
363 posts, read 376,472 times
Reputation: 400
Thank you RE Skeptic and Cully! You're both right, all l I wanted was an answer to my question. All of the editorializing on forums such as this, isn't terribly helpful, and just gets tedious.

My mum is an older lady. At times, these decisions can be more difficult than for someone younger. Update: the listing was pulled and mum wasn't out any money. We've given this agent a lot of business, including the sale of my house back in December (she got the full 6% commission); because of this experience, we will continue to give her our business in the future.
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Old 06-08-2013, 08:09 PM
 
5,048 posts, read 6,108,114 times
Reputation: 4113
Quote:
Originally Posted by Voyageuse View Post
Thank you RE Skeptic and Cully! You're both right, all l I wanted was an answer to my question. All of the editorializing on forums such as this, isn't terribly helpful, and just gets tedious.

My mum is an older lady. At times, these decisions can be more difficult than for someone younger. Update: the listing was pulled and mum wasn't out any money. We've given this agent a lot of business, including the sale of my house back in December (she got the full 6% commission); because of this experience, we will continue to give her our business in the future.
So glad it worked out for you and your mum. All the best.
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Old 06-09-2013, 07:05 AM
 
Location: Ocala, FL
3,034 posts, read 5,547,177 times
Reputation: 2523
So is father called, "Dud" ???
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Old 06-09-2013, 07:08 AM
 
Location: Cary, NC
30,728 posts, read 53,763,020 times
Reputation: 29147
Quote:
Originally Posted by Voyageuse View Post
Thank you RE Skeptic and Cully! You're both right, all l I wanted was an answer to my question. All of the editorializing on forums such as this, isn't terribly helpful, and just gets tedious.

My mum is an older lady. At times, these decisions can be more difficult than for someone younger. Update: the listing was pulled and mum wasn't out any money. We've given this agent a lot of business, including the sale of my house back in December (she got the full 6% commission); because of this experience, we will continue to give her our business in the future.
And that is why almost all agents would do exactly what your agent did.
Smart lady to provide you with a good outcome.
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Old 08-12-2013, 06:50 PM
 
Location: Florida
66 posts, read 115,173 times
Reputation: 32
if she doesnt want to sell it, put the price very high, nobody wants to buy it then the contract expired
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