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What happens to an interested buyer after a listing expires? If an agent showed us a property, is she still entitled to a commission if the seller were to sell it to us after the listing expires?
We made an offer, got a counter, countered that offer, got the identical counter again (odd?) and now it seems the listing has expired. Can we call the owner (FSBO sign on lawn) and if he did sell to us, would the agent still get a commission? Should we continue to go through her or call the seller directly?
1 what state are you in?
2 Did you sign a buyer agency agreement?
3 If it is expired and there is no protection clause then it might be ok
4 remember you did sign a contract so check the laws in your state.
i think you should go to your agent and let her talk to the seller
so you don't have any problems.
The way I am reading your original post is that you were in the middle of negotiations when the listing expired and now you want to eliminate the agents.
If I am reading this correctly, the listing agent would still be entitled to the full commission and if they tried to keep it all and not give the buyers agent their co-broke then the buyers agent would rightly have procuring cause.
Simply put, no you can not go direct to the seller at this time to avoid the commission. You can try but the seller is still contractually bound.
The way I am reading the original post is that they were in the middle of negotiations when the listing expired and now they want to eliminate the agents.
If I am reading this correctly, the listing agent would still be entitled to the full commission and if they tried to keep it all and not give the buyers agent their co-broke then the buyers agent would rightly have procuring cause.
Simply put, no you can not go direct to the seller at this time to avoid the commission.
Why not answer the questioned asked rather than the question not asked?
Same answer and one is much friendlier than the other.
You may of course be correct. But why not presume honest interest rather than malignant intent? Particularly when it costs you nothing?
You can certainly buy the property directly from the seller but in most cases there is a clause in the listing that will require the seller to pay commission for a period of time and that can be as much as 180 days from the time the listing expires. I am sure this varies from state to state. I am in Tennessee
Why not answer the questioned asked rather than the question not asked?
Same answer and one is much friendlier than the other.
You may of course be correct. But why not presume honest interest rather than malignant intent? Particularly when it costs you nothing?
I read the question of the OP and all I saw was an intent to sidestep 2 Realtors who had been working to put together a sale.
That is why I presumed the intent that I did.
I also believe I answered it quite succinctly after I pointed out the key facts that I thought others might have missed.
I am not going to be nice and pussyfoot around when I feel someone is trying to save themselves a few dollars at the expense of 2 agents that obviously had been working to put something together.
This is evidenced by the OFFER, COUNTER OFFER, and TWO MORE COUNTER OFFERS.
Since you originally posted this question in the NYC forum I'm going to assume you are from NY. When I lived there you didn't have to sign a buyers broker agreement but things may have changed.
So the answer to your question depends on whether you signed an agency agreement and what it says. If it says YOU are responsible for a commission to the buyers agent, there will more than likely be a protection period. If you didn't sign a commission agreement with the agent than it's not your concern. It can be a concern to the seller as they signed a listing agreement, but that would be between the listing agency and the seller. If the sales associate who brought you to the house (as long as YOU don't have a contract with them) thought they were entitled to a commission, that would be between the listing agency and the rep you had...again it would have nothing to do with you.
So. The answer to your question is...did you sign a buyer's broker agreement? If so, read it and your answer will be in there. If not, yes, you can go direct, get another agent or whatever.
In general listing contracts have a clause that extends their reach forward for some months in terms of buyers who looked at the property while listed.
If you have no contract with your agent you are likely not bound unless you feel ethically so. Note that the sellers agent has a right to and will collect both commission if you are unrepresented.
The web woven is complex after the listing expires.
Ask the sellers agent to give up some commision and put it towards the offer so he can collect his commision and the house is sold. The house is for a long time on the market so evrybody should be happy. I found out it's not allowed for a realtor to offer commsion to a non licensed person but he is allowed to do it in another way. Or ask his broker to do something with the commsion towards the selling price.
I have no buyer's agent (if I did I would seek advice from them of course) I am more trying to figure out what's up with the seller's behavior rather than "cut out the agent" so to speak. I found her very unhelpful, but I have no agreement with her, she's the listing agent. I guess I have to wait and see if the seller is actually motivated to sell. He knows where to find me if he is.
I have no buyer's agent (if I did I would seek advice from them of course) I am more trying to figure out what's up with the seller's behavior (returning same counter which is 10% above appraised value) rather than "cut out the agent" so to speak. The effort exerted by the listing agent consisted of showing me the property (once, in the dark) and receiving two purchase offer faxes from me. I wrote them, she presumably called up the seller and told him about them. It's possible she sent a couple of faxes herself. The amount I would be willing to pay remains unchanged regardless of commissions so the extra money is all in the seller's pocket. There is no second agent. If I had a personal agreement with anyone, I would honor it. I found the listing agent very unhelpful, but I have no agreement with her, she's the listing agent. I guess I have to wait and see if the seller is actually motivated to sell.
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