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Old 07-19-2012, 10:31 AM
 
18 posts, read 26,455 times
Reputation: 10

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I submitted a full price offer with only a contingency for financing with a pre-approcal letter on a listed home that was exluded from the MLS. The offer was rejected. Since my buyer was willing, able & ready, isn't my broker still owed a commission? I know this usually is up to the listing agent to act upon, but the listing agent isn't going to ask the sellers to pay the owed commission.
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Old 07-19-2012, 10:48 AM
 
Location: rural North Carolina
272 posts, read 786,152 times
Reputation: 336
The offer was rejected. Why would you be owed money?
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Old 07-19-2012, 11:17 AM
 
18 posts, read 26,455 times
Reputation: 10
I brought a ready, willing, able buyer with a full price offer
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Old 07-19-2012, 11:38 AM
 
Location: Saint Louis, MO
1,912 posts, read 4,686,285 times
Reputation: 918
This might be better in the real estate section. Not many STL realtors post regularly here.
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Old 07-19-2012, 11:55 AM
 
Location: Saint Louis, MO
3,483 posts, read 9,010,757 times
Reputation: 2480
Don't know why you'd be owed any comission on a deal that you didn't close. Full price offer or not, if it doesn't sell, it'd seem like you're not really owed anything, by anyone...work with your client to buy a house in the future, and you'll make your comission on that. Good luck.
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Old 07-19-2012, 12:19 PM
 
Location: Tower Grove East, St. Louis, MO
12,063 posts, read 31,609,042 times
Reputation: 3799
Here's a great City-Data thread on this very topic: //www.city-data.com/forum/real-...ice-offer.html
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Old 07-19-2012, 03:41 PM
 
551 posts, read 3,122,030 times
Reputation: 230
Well, the seller doesn't have to take a full-priced offer. Heck, they could decide 6 months after listing it (and after you doing work) that they don't even want to sell it anymore. Unfortunately, that's the nature of the beast in real estate; sometimes you do a lot of work for no pay. However, I do remember reading some articles about the broker being able to sue the seller for commission in instances like this. In my opinion though, it wouldn't be good business. I'd just chalk it up to a loss and move on.
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Old 07-19-2012, 04:19 PM
 
Location: rural North Carolina
272 posts, read 786,152 times
Reputation: 336
Years ago we offered full price on a house and the seller accepted the offer verbally. That night the seller's agent found a full price offer - in cash. The seller rejected our offer and took the cash offer. We were very upset but there was nothing we could do. A month later we were approached by the seller's agent after the money offer fell through. We passed.
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Old 07-20-2012, 05:55 AM
 
Location: Illinois
275 posts, read 1,124,527 times
Reputation: 214
Nope. No commission is due. Commission is due for completing the transaction, not for attempting to complete it. No signed contract, no commission.
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Old 07-20-2012, 06:01 AM
 
Location: Illinois
275 posts, read 1,124,527 times
Reputation: 214
Remember, an agreement to pay commission is part of a LISTING contract. A buyer/buyer's agent/broker does not have a contract with the seller when it comes to commission. Now, the selling broker may have a thing or two to say about this - but the buyer's agent/broker does not have a contractual agreement with the seller for anything. Listing contracts do not involve buyers or buyers' agents/brokers. It is between the seller and listing broker.
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