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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!
Response by douglasternyc
over 14 years ago
Posts: 62
Member since: Sep 2009

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

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Response by Rob360
over 14 years ago
Posts: 84
Member since: Jun 2010

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)

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