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Old 06-08-2007, 07:46 AM
 
2 posts, read 4,670 times
Reputation: 10

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I just sold my house with Realtor A. In the listing agreement it states that the commission is 6% or 5% if I buy a house through Realtor A. The closing was finished several weeks ago and I was charged the 5%. I have tired looking for another house, but have not found one yet.

I'm looking for some advice. Can I dump Realtor A? I have not signed anything dealing with a buyers agreement. The only thing that is signed is the listing agreement. If I dump Realtor A, do I automatically own the 1% difference.

Thanks
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Old 06-08-2007, 08:26 AM
 
Location: Somerset, NJ
505 posts, read 2,243,047 times
Reputation: 135
Yes...the Realtor said i'll tell you what, if you buy a home through me as well, i'll give you a 1% break on the commission. If you decide to buy a home through another realtor, you will owe the Realtor the additional 1 percent.
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Old 06-08-2007, 08:27 AM
 
Location: Somerset, NJ
505 posts, read 2,243,047 times
Reputation: 135
Plus, would you really be able to sleep at night knowing that you did the wrong thing and screwed someone that assited you in getting your home sold? Maybe the problem that you can't find a house has nothing to do with him...maybe your criteria is a little to tight?
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Old 06-08-2007, 12:23 PM
 
4,606 posts, read 7,298,922 times
Reputation: 5236
Default whoa....

What exactly does it say after the 5% or 6%?? That would be your answer.
Does it specifically state why you would be charged one or the other in the contract with your signature?
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Old 06-08-2007, 01:03 PM
 
2 posts, read 4,670 times
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This is exactly what it says...

Commission - 6%*
*5% if use Realtor A to buy a house
After that is the usual wording about if a buyer comes with a reasonable offer, etc.

Can the Realtor come back on me for the 1% difference?
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Old 06-08-2007, 02:09 PM
 
19,483 posts, read 26,911,275 times
Reputation: 37985
i thought an event contingency with a broker was illegal,,or non-binding,,(do this,,in one transaction,, that will affect another relationship agreement,,(or transaction/contract)

i believe its one contract performance at a time,,,,perhaps it was a good faith,,,agreement,,,,to give you a break,,to strongly suggest,,,,you to be his client as a buyer,,,,but i dont believe thats binding,,

if no exclusive buyers brokers agreement was signed,,i cant see where this would hold any legality or binding relationship..

feel free to call the real estate commission and ask them,,,,,or the owner of the brokers company,,
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Old 06-08-2007, 02:16 PM
 
4,606 posts, read 7,298,922 times
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Listen to mainebrokerman.......great help!! Yes, call and let us know the outcome. Us non Realtors are very intrigued with this whole thing, and
wow, still shocks me.
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Old 06-08-2007, 10:29 PM
 
Location: Rural Central Texas
3,646 posts, read 9,974,733 times
Reputation: 5508
I would think that legally the first transaction is concluded and the broker submitted the fees to closing with the expectation that you would honor the deal as negotiated. He may not wish to pursue it in court and you might get away with screwing him over, but would you like it if he had the opportunity to ********* over and took advantage of it?

He could probably prevail in court to get the 1%, but might not for fear of the public opinion. I guess it really depends on how upset he gets over it when he finds he got cheated.

Bottom line is he legally earned it, you agreed to pay it, and morally you are obligated whether he pursues it or not.
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Old 06-09-2007, 01:40 AM
 
Location: Palm Coast, Fl
2,249 posts, read 8,486,660 times
Reputation: 1006
Quote:
Originally Posted by BillW2 View Post
I just sold my house with Realtor A. In the listing agreement it states that the commission is 6% or 5% if I buy a house through Realtor A. The closing was finished several weeks ago and I was charged the 5%. I have tired looking for another house, but have not found one yet.

I'm looking for some advice. Can I dump Realtor A? I have not signed anything dealing with a buyers agreement. The only thing that is signed is the listing agreement. If I dump Realtor A, do I automatically own the 1% difference.

Thanks
I'm not an attorney and haven't read the whole contract but I don't think so. What if you decided not to purchase another home at all but decided to just rent? What if you decided to move out of state? They can't MAKE you purchase a home. If you want to make sure, take the agreement to an attorney. It sounds like a marketing ploy to me. If they wanted to protect themselves it seems to me it would be better to give you the commission back on the purchase...such as they charge you the 6% for the sale but then give you 1% out of the commission earned on the purchase.
Why don't you want to continue with the same Realtor? Why do you think a different Realtor would be better? Are you not finding something because you aren't clear with the Realtor what you are looking for?
In my opinion, if you aren't happy with this Realtor, you aren't 'morally' obligated to stay with them.
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