Seller Broker Commission After Listing Expires?
Started by SoClo
over 14 years ago
Posts: 1
Member since: Oct 2011
Discussion about
In NYC, how long after sales listing expires is selling broker due commission, if buyer made a rejected bid while listing was in effect? Must buyer be listed by name to trigger commission during this period? How long is that list of names enforceable?Thanks!
When a broker works on a commission basis and the listing expires, they usually have the right in their listing agreement to name a certain number of buyers that saw the property during the term of the exclusive listing, and if any of them sign a contract with the seller within 90 days of the expired listing, the broker will be entitled to the commission.
Doug Perlson
RealDirect
Don't be cheap- if the broker brought in a buyer and the listing expired you owe them the commission. They did the work now you should pay them. You know the answer already to your own question. (btw I am NOT a broker)