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Loon
AuGres, MI
(Zone 5b)
August 4, 2006
1:12 AM Post #2585245
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We had our home listed with a real estate company for six months. It did not sell. When the contract was up we were presented with a new contract. I read the contract carefully and noticed a clause written similiar to this:
Broker's Fee shall be paid if the property is sold, conveyed, or otherwise transferred within _180____days after the termination of this agreement (the "protection period") to anyone to whom the property has been shown by the Broker or anyone else, including the Seller, prior to final termination of this agreement UNLESS A VALID LISTING AGREEMENT IS ENTERED INTO DURING THE TERM OF SAID PROTECTION PERIOD WITH ANOTHER LICENSED REAL ESTATE BROKER." (Emphasis added.)
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I did NOT want to be tied to this realtor company for six months after the contract expired. I wanted this house sold before winter and told the agent I would not sign another six month contract. I said he had three months or 90 days longer to try to sell it and then I was going to sell it myself and lower the price. I had already lowered the price twice. I crossed out the above clause in the contract and wrote "no" and underlined it several times and initialed it. I also verbally told him that I would not agree to this. I am living 160 miles from this house now and would not know who he or anyone else had shown the house to so I could not agree to this. He understood and allowed me to cross out that part of the contract because he knew if he didn't I would not sign on for another three months with him. I explained that I had a bottom line of what I "had" to get out of the house to pay off the home equity loan and to pay off my new home and couldn't do it and pay out ten or eleven thousands in commissions. He was unwilling to lower his commission rates. He wanted me to make all the financial sacrifices and not him.
The contract expired again in July. It had not sold. I took down his sign and emailed him to come take his lock box off my house. I also asked him to remove all ads on the internet for my home which he did. He has not yet removed his lock box. I put up a for sale by owner sign with brochures. I had a neighbor offer to show the house if anyone called. I left her number on the brochures. She is doing this as a favor and is not getting any commissions.
A lady came and put in an offer on the house. As it turns out she had seen my house before but could not afford my price. Since I lowered the price she can now afford it. She had put in an offer on another house but did not like it as well as mine. She cancelled her offer and has now entered into a purchase agreement with me. Her credit is good and she has cash for downpayment so I think this will go through.
My question is if my former agent discovers I've sold the house can he sue me for his commission even though I did not agree to his terms? Also, can her agent sue her or me for the buyer's agent commission even though she never signed a contract with her to show her houses? We have made this agreement between us and the title company and her mortgage company are doing all the paperwork. |
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