Question for brokers - on changing brokers

anyone have any thoughts here?

You can ask for an "escape clause" in the exclusive with say seven days written notice. Not sure if all firms will do this, but Citi-Habitats did when I worked there.

Most exclusive will have a clause regarding buyers coming back after the expiration and a commission will be payable to listing broker. That said there is/should be a time expiration to this.

I have always had a very good relationship with my sellers, if they were not happy I worked to address the issues. If they really were not pleased with my work I would be happy to tear up the agreement. This never happened.

Well all of these specifications are written in the broker agreement that you signed. Including how many days a person has to wait to bid on the apartment if they came while the contract was in place, thats why we also record who comes to the open houses. I guess that if you are suffering financial losses due to the fact that the apartment is not selling after a reasonable time in a difficult market, you could potentially appeal and get out, the route as to whom you appeal to and if that would work is logistics for you - i.e. talk to your broker, talk to your attorney, read the fine print. Good luck.
bmw, licensed real estate agent)

Typically if someone saw the apartment when you were represented by a broker, then you sell it later to that same person (without the original broker), that broker is due compensation. Its just all the more reason (IF you decide to use a broker) to make sure you like him/her.

I believe UESBandit is referring to "Threshold Law" which indicates that the commission has to be paid to the agent who walked the buyer across the threshold. Could someone else comment on this law? Is that correct?

The bottom line is that if the agent that you hired brought an able and willing buyer, and a transaction took place, you owe the commission. Some companies understand these logistics, which is why some companies only do exclusive agreements instead of agency agreements, because they do not want to lose on the time, money and effort that they would hopefully put into trying to sell your apartment. This is all very likely defined in your broker agreement.

407PAS: I think the "law" you're referring to isn't a law in the sense of a binding statute of any governing jurisdiction. It's more like an industry guideline, and it has absolutely no bearing on the buyer or seller. The seller pays a commission to whomever his listing agreement says he pays it to. Whether a portion of that money gets passed through to a selling broker (or a true buyer's broker) - and, if so, which one - isn't the seller's problem.

So, West81st, by your reasoning, if a seller has no listing agreement, he is never liable to pay commission to anybody? Is that right? I am not so sure you are correct with regards to threshold law. Are you a lawyer? I can bug my real estate attorney about it again but she had told me in the past that it all came down to who brought the buyer across the threshold. A FSBO cannot let a broker bring a client into their apartment without souring that person as a buyer. Is this not correct?

thanks all, very helpful commentary

407PAS: With FSBO, you're getting into grey areas of implied agency. Interesting topic, but not really relevant to Special_K's question. I urge you to consult your attorney, and make sure your marketing material says you won't pay a selling broker, if that's your preference.

West81st,
Yeah, I have tried to be as clear as possible on this point but maybe I will add a few more lines to my marketing materials.

Special_K did say this though, so my question seems relevant:

"Also, what happens if I change brokers or just don't use a broker anymore, but then someone who either bid or visited the apartment during the prior broker's exclusivity winds up bidding again"

407PAS: Different question. Special_K was asking whether the listing broker is still entitled to a commission.

The old listing broker who is no longer the listing broker, ok, I got you.