Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

195
Posts
23
Votes
Ashley Zhang
  • Investor
  • colorado
23
Votes |
195
Posts

Compensation regarding changing list agent

Ashley Zhang
  • Investor
  • colorado
Posted

I am thinking of changing my list agent, i asked her who will be paid if a buyer toured the house, didn't put it an offer ,somehow change minds and submit an offer to my new listing agent? She said the compensation will be paid to her entirely. Here is the holdover clause in our contract, 

"7.2.3. Any Sale (or Lease if § 3.6.2 is checked) of the Property within 180 calendar days after the Listing Period expires (Holdover Period) (1) to anyone with whom Broker negotiated and (2) whose name was submitted, in writing, to Seller by Broker during the Listing Period (Submitted Prospect). Provided, however, Seller

Will

Will Not owe the commission to Brokerage Firm under this § 7.2.3 if a commission is earned by another licensed brokerage firm acting pursuant to an exclusive agreement entered into during the Holdover Period and a Sale or Lease to a Submitted Prospect is consummated. If no box is checked in this § 7.2.3, then Seller does not owe the commission to Brokerage Firm. 7.3. When Applicable and Payable. The commission obligation applies to a Sale made during the Listing Period or any extension of such original or extended term. The commission described in § 7.1.1 is payable at the time of the closing of the Sale, or, if there is no closing (due to the refusal or neglect of Seller) then on the contracted date of closing, as contemplated by § 7.2.1 or § 7.2.3, or upon fulfillment of § 7.2.2 where the offer made by such buyer is not accepted by Seller"

my understanding is that only if there was an official offer submitted to me, then she may enticed to the commission. Since there was no offer as this point, she should NOT have commission. Although i do want to compensate her out of my pocket  but that will be a different thing. 

Bottom line is that i dont wan to my new agent did lots of work and end of no compensation. Please guide how to handle it properly? Thanks for all your options.