Contract with Realtor

[Daniel Patton]

I have a contract with a realtor for an investment property we had on the market. We were originally going to sell the place after we rehabbed it, but we are now renting it for a year and plan on listing again in 9-10 months. 

The contract covers renting, in that we are supposed to pay one month's rent to the realtor if we choose to place a tenant instead of sell. She knows we still want to sell it in the next year, so she offered to waive the rental fee if we sign a contract that extends another year. 

My question is, if we instead just pay her the one month's rent, does put an end to the current contract? If we happen to sell the place to another investor without her assistance before the initial contract is up, do we owe her on the sale too?