Seller beware: Even if the deal dies, the agent may still want their commission

A good piece of advice for anyone buying real estate is buyer beware. But recent court rulings show that sellers, too, should beware; clauses in the listing agreement can mean the realtor can claim a commission – even if a sale doesn’t close.

“It is often the case that terms form part of an agreement of purchase and sale that are not favourable to buyers and sellers,” said Daniel Waldman, a real estate litigator with Dickinson Wright LLP. He says claims by buyers or sellers that they didn’t understand such an important clause won’t cut it in front of a judge. “Courts will often still stand by the rule that the party is stuck with the agreement they signed.

And in case that’s not clear enough it goes on: “The Seller further agrees to pay such commission as calculated … even if the transaction contemplated by an agreement to purchase agreed to or accepted by the Seller or anyone on the Seller’s behalf is not completed, if such non-completion is owing or attributable to the Seller’s default or neglect.”

“All of our Forms and Clauses go through an annual review process that keeps them current with emerging market trends, changes in legislation, and regulation,” wrote Ms. Delicano in a statement.

Source: Law Daily Report (lawdailyreport.net)

I still want my pay, even if I get fired.

Hard no.

The greed of RE predators has no bounds. All of them, from cleaning lady to top dog in a RE company.

Real estate agents are the biggest reason that housing is so expensive. They coerce sellers into jacking up their listing price and frighten buyers with the prospect of FOMO to keep those commissions high. They are crooks, every last one.

Governments need to examine the real estate agent gig. The miniscule work they do and the rather outsized commissions need to be balanced. My brother had an agent showing his house; she sat on the couch and surfed her phone during the showings.

What a racket, real-estate is.

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