Question
You had a listing agreement with a seller and showed the home to several prospective buyers, one of whom was very interested and asked
You had a listing agreement with a seller and showed the home to several prospective buyers, one of whom was very interested and asked " What is the lowest price your seller will accept?" You explain to the buyer that you are representing the seller as the seller's agent and if he is serious about the property, the best way to find out would be to enter into negotiations by making an offer. The buyer did not make an offer and your listing agreement eventually expires without making a sale. However, a week after it expired you find out that the buyer approached the seller directly and made a deal for a lower price to buy the home. The price was lower by almost the amount of the commission you would have earned and therefore the seller refuses to pay you a commission. Are you legally entitled to a commission? Is there something that you could have done in this situation to be sure you were paid a commission?
- You had a listing agreement with a seller and showed the home to several prospective buyers, one of whom was very interested and asked " What is the lowest price your seller will accept?" You explain to the buyer that you are representing the seller as the seller's agent and if he is serious about the property, the best way to nd out would be to enter into negotiations by making an offer. The buyer did not make an offer and your listing agreement eventually expires without making a sale. However, a week after it expired you nd out that the buyer approached the seller directly and made a deal for a lower price to buy the home. The price was lower by almost the amount of the commission you would have earned and therefore the seller refuses to pay you a commission. - Are you legally entitled to a commission? - Is there something that you could have done in this situation to be sure you were paid a commissionStep by Step Solution
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