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I sold a property to the tenent after the 9 month listing contract expired. But the agent said I still need pay him because he found the tenant for me. Is it right?
Btw I never talk to the tenant about the selling during listing period
I sold a property to the tenent after the 9 month listing contract expired. But the agent said I still need pay him because he found the tenant for me. Is it right?
Btw I never talk to the tenant about the selling during listing period
Depends, did the agent bring the tenant in with the intent to rent the property, or buy it? If the intent was to rent then the agent is not entitled to a commissioin, but would have been entitled to a fee for finding you a tenant, (1 month rent standard for residentials, a commission % if commerical) if the agent brought the tenant to you because they were looking to purchase, but they decided on renting first, then yes, the agent would be entitled to his commission.
Depends, did the agent bring the tenant in with the intent to rent the property, or buy it? If the intent was to rent then the agent is not entitled to a commissioin, but would have been entitled to a fee for finding you a tenant, (1 month rent standard for residentials, a commission % if commerical) if the agent brought the tenant to you because they were looking to purchase, but they decided on renting first, then yes, the agent would be entitled to his commission.
The intent was only to rent and the tenant never show interest to buy during listing period. The agent didn't charge a fee for finding a tenant because I bought that property through him 2 years ago.
There's no specified clause for this kind situation in the listing agreement and lease agreement
There's no specified clause for this kind situation in the listing agreement and lease agreement
Was the "protection period" for the agent over? Look at your listing agreement...there will be a period of time that the agent is covered for if they've brought a prospect to the home. Now. If that was over, you're definately in the clear.
If that wasn't over it could get a little sticky because the agent will probably say he/she spoke to them about purchasing the house and the two of you played a little game to not have to pay the commission. He would have to sue you for it if you don't just pay him. BUT. If he doesn't have something in writing stating you agreed to pay a commission on this tenant, he might have a hard time. You should check with an attorney.
Our listing agreements state if the tenant purchases a commission is owed. I don't know why people don't make sure terms are clear when they take/give a listing but it happens all the time. Our leases also have something in it that if the tenant ends up purchasing the home a commission is due.
Sounds almost like this should be filed under Karma. The agent brought you the person who bought the home. You may not be legally obligated to pay the agent but it somehow seems like the right thing to do.Try to put yourself in the agent's shoes, wouldn't you feel like you just got _____ed? (Fill in the blank with your own choice words)
Sounds almost like this should be filed under Karma. The agent brought you the person who bought the home. You may not be legally obligated to pay the agent but it somehow seems like the right thing to do.Try to put yourself in the agent's shoes, wouldn't you feel like you just got _____ed? (Fill in the blank with your own choice words)
I agree. The agent helped you get a tenant and did not charge you for that service thinking they were going to get paid when the house sold. This was a nice thing to do. While, you might not legally have to pay them anything, I think the ethical choice is clear.
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