NOT really getting along with my re agent, am I still obligated to him?

[James Willson]

So long story short, he was my seller's agent, at that time, I was little hesitant to sell the commercial property because I didn't like some of terms that buyer wanted. Then my agent started threatening me that even I don't sell my property, I would still owe him the commission because he found a willing and able buyer who is willing to pay my full asking price.
I'm sure he could convince/persuade me in a better way than saying, "you owe me my commission no matter what!"

At the end, I did get the property under contract and now waiting for the closing date. I asked my agent if I could pull the closing date to earlier. He confirms it wouldn't be a problem. Weeks later, he says buyer can not close the deal any earlier than what the contract states. I asked him why he said yes before, he starts yelling and screaming that we never had that conversation nor it's his problem.

Now problem is he is also my buyer's agent. I did not sign any contract with him, only the agent disclosure form. He did show me a couple of properties and also came to showing. He also helped me making a couple of writen offer or purchase agreement, which was not accepted by seller though.

I know you guys work hard and needs to get paid when work is done.
But what my agent did so far or the way his treating me as of a client is not professional nor ethical.

I like to if I could just say good bye to him and find someone else without any problem.

Thanks in advance.

[Douglas Lagos]

James: a real estate agent that represents the seller, is only due a commission, once the contract is signed by all parties concerned, and the deal closes escrow.
Many things can happen after a contract is signed but before it closes escrow, some examples are, No Loan, house has major inspection faults/repairs, and low appraisal value. Always look at the listing contract that you signed for information on what your duties and rights are.
In the example cases shown above, a deal would fall through if the buyer is unwilling or unable to bring more money to the table and/or the seller making repairs, and no commission is due.

The only way that a selling agent is due a commission, without the seller signing, is if the buyer comes with a contract offering you your asking price, and no other terms/stipulations. ie. Example, your asking price, 30-45 days usual closing time, no loan contingency, no inspection contingency. Of course, what you wrote in the listing contract, is what stipulates your asking price and contingencies. Most have 3% down, 17 days for home inspections, and a loan contingency. So, check your listing contract to know what you had contracted would be the terms that you had agreed to. A willing and able buyer with additional terms is not what you agreed to in the listing contract when you put the house for sale with the selling agent. I may be wrong, but I still have not heard or seen a listing contract that also included your consent for "and any other terms that buyer brings to the table".

Please note, that if you sign for a specified period of time, ie. 6 months, 1 year, etc., your selling agent is still allowed to market your property. Some agents may discontinue the contract with a disgruntled seller, but will need to provide you, the seller, with a written cancellation of the listing contract, signed by the agent and seller. Always talk or email the listing agent and let them know what your concerns are. You may be able to come to an agreement, or the listing agent may let you out of the contract as soon as possible.

Never hire another selling agent, until you have a written signed cancellation from the first selling agent. Otherwise, if your house sells during the initial listing contract period, you will owe double commission to each selling agent.

As to a buying agent, you can fire them anytime, but do provide some type of written notification via letter or email, to have written backup in case something comes up later on. Then, go and find another buying agent that will provide better assistance to you.

The majority of real estate agents are very knowledgeable and professional. In your case, it seems that was not the case. RE Agents are similar to cops. Cops have a bad reputation, but most are honorable, hard working professionals. One bad apple, does not spoil the barrel. Just look at the NYC cop that was caught in a photo helping a homeless person. The cop did not want publicity when he was doing the act of kindness. Most cops, and RE agents are like that. Too bad we don't hear about the majority that are doing good professional jobs.