If you have signed your agreement to an exclusive right to sell, then you owe your Realtor a commission. If you have signed a exclusive agency then, you do not owe your Realtor a commission. In the event the listing was an exclusive right to sell and your Realtor made an agreement to reduce (variable commission) the commission if he/she represent both sides, then you get a discount.

Sun Nov 18 2007, 21:49

Angie, if you can't find a copy of your contract, get in touch with your realtor to provide you with another copy. Normally, if the listing has expired, an agent needs seller's signature in order to relist it at which point you will have an option to either go with your realtor again or not.

Thu Nov 15 2007, 15:02

Yes, if you're under contract the Realtor is owed a fee. The good news is you have a potential buyer for your home; many sellers would like to be in your position. If your brother would have said he wanted to buy it before you listed you could have put him as an exclusion from the listing contract.

Tue Oct 16 2007, 14:22

Angie,
Well you signed something until January 2008.

What`s a fair percentage commission for the work he has done and the paperwork he will do?
1% 2%3%4%??????

Figure how much you will pay him. You have acknowledge that he deserves to get paid.

Have him over, tell him what`s going on, and if he will work with you. That`s it.

If he says no, come back here and post the question with his reasoning.

Tue Oct 16 2007, 06:36

MY OTHER PROBLEM IS THAT I CAN LOCATE THE ORIGINAL CONTRACT AND I THOUGHT THAT I ONLY SIGNED A 6 MONTH CONTRACT LAST JANUARY WHICH WOULD BRING ME TO JULY 1 AT WHICH TIME I ASKED THE REALTOR IF I COULD RELIST SO IT WOULD NOT LOOK LIKE ITS BEEN ON THE MARKET FOR SO LONG AND WAS TOLD THAT WE DID NOT HAVE TO BECAUSE EVERYONE WAS IN THE SAME BOAT. I HAVENT SIGNED ANYTHING ELSE OTHER THAN A MLS AGREEMENT UNTIL JANUARY 1 2008. I REALLY THINK MY CONTRACT HAS EXPIRED AND THE REALTOR IS STILL WORKING FOR ME IS THIS POSSIBLE? ANYWAY I REALLY LIKE MY REALTOR AND WOULD NOT THINK OF JUST GIVING HIM NOTHING AT ALL BUT THE FULL COMMISSION IS RIDICULOUS BECAUSE MY BUYER DIDNT LOOK AT ANY OF THE MARKETING THAT WAS USED TO WANT TO PURCHASE THE HOUSE, ACTUALLY MY BROTHER IS DOING ME A FAVOR BECAUSE I HAVE NOT BUYERS AND HE IS LOOKING FOR A HOME. I DO NOT NEED THE REALTOR TO DO ANY OF THE PAPERWORK BECAUSE WE HAVE A MUTUAL REAL ESTATE ATTORNEY THAT IS WILL TO DRAW UP THE PAPERS, SO BASICALLY WHAT WOULD THE REALTORS PARTICIPATION BE IN THIS TRANSACTION? I DO REALIZE MY REALTOR HAS DONE ALOT OF WORK SO I INTEND TO PAY HIM FOR THE EFFORT IF I AM INDEED STILL UNDER CONTRACT WHICH I WOULDNT KNOW HOW I COULD BE IF I HAVENT SIGNED ANYTHING EXCEPT TO THE MLS AGREEMENT. PLEASE LET ME KNOW IF IT IS COMMON TO CONTINUE WORKING WITH A SELLER IF THEY ARE NOT UNDER CONTRACT ANY LONGER. THANKS TO ALL FOR YOUR ANSWERS.

Tue Oct 16 2007, 06:09

The answer depends upon the type of listing agreement that you have, any exclusions listed, and specific terms of that agreement. You must determine if you have an Exclusive Right to Sell Contract or an Exclusive Agency Lisitng Contract. Beyond that, you must also look at the specific terms.

Tue Oct 16 2007, 06:08

If you have a contract - an exclusive agency agreement, yes you owe a commission

Tue Oct 16 2007, 05:07

As long as the other agent has a real estate license. Now, it could be different in your state. Consult with your manager.

Tue Oct 16 2007, 01:39

Yes, you would be obligated to pay the commission. Speak with your Agent and see what agreement you can come to . He or She may be willing to be paid the commission only on the listing side. The advertising is usually done up front on listings, with other expenses that have been used for marketing your home. Be honest with your Agent. They will appreciate it and may be willing to help you out with your problem, as well as guide you though the process of making it a smooth transaction.

Mon Oct 15 2007, 22:33

Angie - Typically, yes. Even though you and your brother agree on the terms, it would still be wise to give your agent a call and explain the situation. Many agents are willing to handle the paperwork for you at a reduced fee. It's certainly worth the small amount you'll pay for the peace of mind of knowing that all the "i's" are dotted and the "T's" get crossed. Good luck to you.

Mon Oct 15 2007, 21:22

Angie
I have a question: If you were the Realtor, and your seller asked you, what would you do?
There are questions about what is legal or what is moral (what is fair)?
You give us no details.
Here is a story:
To properly market a listing requires a significant investment. For me, personally, in the first two weeks I probably invest $1000-$1500 in marketing, printing, advertising, open houses, mailings, etc. Not to mention many hours of time, and energy. Also, it is not uncommon to have to make strategic choices....meaning that I might have to defer or choose between helping seller A because of time constraints, and working with seller B.

So if you invested all of these resources, then I were to tell you my brother wants to buy it....how would you feel?

In most cases, the Realtor's job is to expose the property and produce a buyer. So, if you were the Realtor, and during the listing period, knowing all of the marketing that you had been doing, if anyone comes up to me and says "Hey, I want to buy it", you've done your job, you've earned your fee.

Choose wisely.

Mon Oct 15 2007, 20:50

Your Realtor might consider working something out with you but, yes, as long as your home is listed for sale you are obligated to pay a commission per your contract.

Mon Oct 15 2007, 20:07

Check your agreement but the answer is probably yes. You could have put an exclusion clause in the agreement but you didn't mention it here so, go back and check the agreement.

Mon Oct 15 2007, 19:32

If your brother was not listed as an exclusion (typically the first 14 days in the beginning of the contract) you would still owe a full commission.

The person below does not understand "dual agency". Dual agency is the brokerage company represents both the buyer and seller and does not necessarily mean the same agent.. but agency. Meaning that if (example) two Remax are agents involved in the same transaction, this would be dual agency.. This does not mean a seller pays half a commission, all it means is that the same broker is handling the transaction and needs to play fair with all.. No favorites... it is not exclusive to the same agent.

Either way, you would be obligated under the contract to pay the commission.

Mon Oct 15 2007, 19:28

I'd talk to your Realtor about letting you out of your contract for a fee. You would have to reimburse them for advertising and expenses, but for your brother, I would think your agent might let you. At the very least, your agent should be able to represent "dual agency" both of you for half the commission. That is just my opinion.
Ruth

Mon Oct 15 2007, 18:59