Seller's Broker Contract

Brokers will try to put it in but you must refuse, it is BS!! Put something like this in the agreement:

"Commission shall be earned and payable to broker only if, as and when title actually closes unless seller willfully defaults under the contract. Broker agrees no commission will be due if no contract is entered into except if due to sellers willful default"

Disclaimer, I am not a lawyer, this is not legal advice!

Or even better use this:

"Commission shall be earned and payable to broker only if, as and when title actually closes unless seller willfully defaults under the contract. Broker agrees no commission will be earned by the broker if: (a) no contract is entered into, or (b) if the contract is entered into, title does not close due to buyers default, or (c) if the contract is terminated by the buyer and seller."

Disclaimer, I am not a lawyer, this is not legal advice!

Just to add some food for thought, without a clause like the above, in NY the broker is entitled to commission if the buyer defaults. Make sure you protect yourself. Ask the broker to draft the agreement so the ambiguity is his (he will prob use standard form) BUT MAKE SURE YOU USE THE WORDS "EARNED BY AND PAYABLE TO BROKER" when adding the clauses above.

Thanks wanderer. Is it typical to have the marketing included in the listing agreement as well, ie what the broker will do, etc. ?

change the contract however you want, including the timeframe. make sure you can make a clean break if you are not happy with them. get a commitment from the broker on how much money they intend to spend on your marketing (LOL good luck with that one).