Would I owe commission?

chrisk327November 16, 2009

Ok I put my house up for sale in April, and took it off the market in May due to my wife losing her job. Was withdrawn from MLS etc in May.

My wife has since gotten a job.

We're considering selling our house again. Since we had people banging on our door in the spring to buy our house, we're thinking of doing FSBO for a bit. We're out of contract. I understand if a buyer who previously scheduled an appointment through a realtor would trigger a commission, understandably.

However, we've had neighbors stop us while we've been working outside in this fall stop by and say how nice the house is and that if we were ever interest in selling again etc.... I don't know if they went to the open house (we didn't see a list) back in april, or just have seen the work we've been doing on the house... If one of them gives us an offer would we owe commission?

Again, we're out of contract and the house has been off the market since May. I want to do this on the up and up. But where is the line where a commission isn't owed?

theoretically everyone in my area saw the sign last year does that count?

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creek_side

Read the listing agreement you signed. It will specify when and under what circumstances a commission is owed. You only owe if the sale falls under the terms you agreed to.

Normally you would owe the commission if the agency you listed with or a cooperating broker found the buyer for you and the sale fell within a spcified time period, which will be stated in the listing agreement.

    Bookmark   November 16, 2009 at 6:00AM
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ncrealestateguy

You owe commission if:

1. The previuos agent has supplied you with a list of clients that she would have procurring cause over.

2. If you are currently NOT in a new listing agreement with another agent.

3. Assuming the above two conditions are met, there is also a time limit, which is stated in your listing agreement.

That is how it works here in NC. I suspect you are in the clear.

    Bookmark   November 16, 2009 at 7:15AM
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chrisk327

I did read my contract however its a little unclear.

it does state that if I relist with another brokerage there are certian terms.

However, when I don't relist there is a 180 day period for which I would owe a commission basically i read it as if their efforts resulted buyer. I know if they actually produced a buyer, ie one of the people we were origionally negotiating with came back. I was curious as to whether having someone go to an open house 7 months ago and comes up to me in september counts...

I'd like to sell without real estate commission at this point(obviously) but if I owe, I owe, I don't want to be in a position where I offer a lower sale price due to no commission then get hit up for commission.

thanks

    Bookmark   November 16, 2009 at 1:46PM
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creek_side

If they held the open house, I would say yes. Aren't the six months up or almost up?

    Bookmark   November 16, 2009 at 2:02PM
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calliope

If you aren't actively marketing the house now, but somebody approaches you and your time limit isn't up, you can always just ask them if they've attended an open house sponsored by the listing agent, or in any way had dealings or worked with them.

During my last listing, I brought in a prospective customer who did not have anything to do with my listing agent, and she still said if they weren't on the list I gave her of contacts I'd made before the listing then I'd have owed a commission on them. (I don't think so, or at least I'd have thought the commission would have been negotiable) but didn't argue. A buyer made an offer in the interim, so it was a moot point. Then only reason I mentioned this is I should have asked before the fact, instead of after. My bad.

She worked hard on that sale, and I probably wouldn't have monkeyed with her commission anyway. She earned it. It was just a matter of it miffed me a little she jumped on it so hard. LOL.

    Bookmark   November 16, 2009 at 2:32PM
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chrisk327

Per my read of the contract and I'm not sure how it goes, as I think its a rediculously long period of time, but I signed it....I didn't really consider the scenario or implecations if I pulled the listing so early, i intended to sell the house.

The house was withdrawn and pulled in May, not for sale anymore however my contract runs through September, per the contract i think I owe from 180 days after September to a buyer brought by the RE agent.

    Bookmark   November 17, 2009 at 8:29AM
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