When Is A Commission Due?

brown commision book with eyeglasses on white paper with graphs

When a seller signs a listing contract to sell their property with a broker, the seller agrees to pay the broker a stated commission. If the broker sells the property during the period of the listing contract, the commission to the broker is due if the broker brings a qualified buyer who is ready, willing, and able and who meets the terms set forth by the seller-provided that the buyer signs a sales contract, the seller accepts, and the transaction closes.

Read Also: What Is A Title Search?

A seller is generally under no obligation to accept an offer from a buyer, but that being said, the seller may owe the broker a commission. If the seller refuses to accept an offer that meets the terms of the listing, the agreement is for at least the listed price and is without any contingencies.

After the listing expires, the seller typically has no liability to pay a commission. If the property is sold unless the property is sold to a buyer, the broker has specifically identified this in writing to the seller at the expiration of the listing. 

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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:

Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*

To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!

*Agardi Team and the seller have to agree on the price and the closing date.

Call Us @ 718-755-2882
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