Real Estate Question

[mtnsmith]

Before MLS Real Estate listings existed, the listing was just with the agent or broker per the contract. During the protective period after the expiration of the contract, the agent was entitled to their commission to any buyer that the agent had showed the property to. And at the expiration of the contract, the agent had to give the seller a list of all the people to whom she had shown the property. I know this was the way it worked in 1968 as I had a deal like this then.

Who are protected under current procedures, the listing agent named on the contract or does it include all the agents that work for the named agency on the contract? Do the agent and agents that work for that named agency have to give a list of people to whom they showed the property to the seller at the expiration of the contract? Actually the agents have protection to anyone they have had conversations with about the sale of the property.

Any help will be greatly appreciated.

Thanks,

Mtnsmith

 

[Hayata]

Realtor

 

[OttoMan]

Realtor

Yes, Joe Smith is your man Realtor

 

[basstracker89]

You may need to consult a real estate attorney especially if it doesn't specify in contract

 

[THREEJAYS]

In

 

[Realtor]

Before MLS Real Estate listings existed, the listing was just with the agent or broker per the contract. During the protective period after the expiration of the contract, the agent was entitled to their commission to any buyer that the agent had showed the property to. And at the expiration of the contract, the agent had to give the seller a list of all the people to whom she had shown the property. I know this was the way it worked in 1968 as I had a deal like this then.

Who are protected under current procedures, the listing agent named on the contract or does it include all the agents that work for the named agency on the contract? Do the agent and agents that work for that named agency have to give a list of people to whom they showed the property to the seller at the expiration of the contract? Actually the agents have protection to anyone they have had conversations with about the sale of the property.

Any help will be greatly appreciated.

Thanks,

Mtnsmith

Each listing agreement is different , every agent puts a different protected period after expiration on the listing contract .. some 30 days, some 60, 90 , etc ... I can review your contract for free if you’d like... call me for anything if you need further explanation..
see my contract example below:

 

[mtnsmith]

Each listing agreement is different , every agent puts a different protected period after expiration on the listing contract .. some 30 days, some 60, 90 , etc ... I can review your contract for free if you’d like... call me for anything if you need further explanation..
see my contract example below:
View attachment 3308005 View attachment 3308006

Thanks for your reply. My contract does state that the protected period is for 90 days. It is specific in stating the commission shall be paid if buyer was shown, provided info to or inquired about the property directly or through a broker working with a buyer.

I think it is the same as the example contract you sent.

However there is no mention of the brokers obligation to provide a list of persons he showed the property to although I will request a list.

 

[mtnsmith]

You need to talk to a lawyer about this matter, just to make sure you get a professional advice.

I should have updated this several days ago. I have been miss-reading the contract, the protective period is only effective if the seller breaks the contract, not effective when contract expires which it has now.

I am now considering going with an 'Ideal Agent' where buy an agent agrees to list the property for 2% and pay a buyers agent 2.5% which is a max total of 4.5%. Have one that is to look at the property and do an analysis to say what she thinks she can sell the house for. Waiting to see how this works out.