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Updated almost 6 years ago on . Most recent reply

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Marika Mcdonald
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Realtor is terminated on contract but still gets 3%

Marika Mcdonald
Posted

Hello All I'm grateful for any ideas feedback or answers to this question 

I have a Contract I'm working on with 2 sisters the property  in Austin ,Tex was through a realtor they terminated contract recently  because they felt she wasnt looking out for their best interest .

So issue is is If I have a buyer does the commision of 3% for realtor (she has in contract if house sells before June she still collects 3% not even sure it's legal But I guess So!) come out of sellers amount 285,000 or my amount 300,000?

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,066
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

The seller who signed the contract with the agent owes that amount to the agents brokerage. And yes it is legal, and it is typical. It is a way to insure that a seller does not fire an agent, then immediately sell the property to a buyer, who likely became aware of it through that agents marketing efforts.  

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