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listed broker commisions

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lxgdale

Junior Member
What is the name of your state? Massachusets

In December 2001 we hired the broker to sell our house and she agreed to list our house for 725K. In March 2002 she brought the buyer with 675K offer. We did not accept that offer and did not even try to negotiate so big difference in money. We also understood, that we can not have the amount of money which we considered to have and decided to take the house off market. In October 2003 (in 1.5 year) we received the letter from broker's attorney, that she wants her commisions for that not accepted offer of 675K and we are accused in bad faith.
Is her claim is legal?
 


HomeGuru

Senior Member
lxgdale said:
What is the name of your state? Massachusets

In December 2001 we hired the broker to sell our house and she agreed to list our house for 725K. In March 2002 she brought the buyer with 675K offer. We did not accept that offer and did not even try to negotiate so big difference in money. We also understood, that we can not have the amount of money which we considered to have and decided to take the house off market. In October 2003 (in 1.5 year) we received the letter from broker's attorney, that she wants her commisions for that not accepted offer of 675K and we are accused in bad faith.
Is her claim is legal?

**A: tell her to "stuff it, turkey"
 
D

dyinginside

Guest
She is only due commission when she brings you a buyer that is "ready,willing and able". She obviously did not do so because they werent "able" to meet anywhere near your price.
 

HomeGuru

Senior Member
dyinginside said:
She is only due commission when she brings you a buyer that is "ready,willing and able". She obviously did not do so because they werent "able" to meet anywhere near your price.

**A: your first sentence is not exactly true.
 
D

dyinginside

Guest
So noted.

I was just summarizing.I of course know the deal must be closed before even thinking of being due commission.
 

nextwife

Senior Member
AS I understand it, a RE professional who has listed a property under an exclusive listing contract at a given price, has "earned" their commission if they bring a ready willing and able buyer at list price or above whose offer meets the terms of the listing contract (occupancy, inclusions, exclusions, etc.). If seller AGREES to a lower price or other terms from such a buyer by acceptance of their offer, the listing agent has also provided the service they were hired to provide, and the seller may be responsible to pay a commission if they choose to back out after acceptance of an offer if their buyer is capable of meeting the terms of the accepted offer.
 

HomeGuru

Senior Member
nextwife said:
AS I understand it, a RE professional who has listed a property under an exclusive listing contract at a given price, has "earned" their commission if they

**A: and who is "they"?
*******
bring a ready willing and able buyer at list price or above whose offer meets the terms of the listing contract (occupancy, inclusions, exclusions, etc.). If seller AGREES to a lower price or other terms from such a buyer by acceptance of their offer, the listing agent has also provided the service they were hired to provide, and the seller may be responsible to pay a commission if they choose to back out after acceptance of an offer if their buyer is capable of meeting the terms of the accepted offer.

**A: very good.
 

lxgdale

Junior Member
Hi again, we continue to receive papers from our broker attorney with treatment to take us into court. What do you advise us to do?
 

Bigfoot

Member
Do you still have ownership of the property or have you sold it since it was listed with the real estate agent? There's some reason why the agent would wait nearly 2 years to bring up a withdrawn property listing.
 

HomeGuru

Senior Member
lxgdale said:
Hi again, we continue to receive papers from our broker attorney with treatment to take us into court. What do you advise us to do?

**A: and what kind of papers are you referring to; letters or officlal court complaints etc.?
 

lxgdale

Junior Member
letter from her attorney advising us to bring the money before they go to court, otherwise, the letter says, we will be responcible for court expenses and so on. Nothing from court yet.
 

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