Ask a realtor with Realtor.com:
Question: We are purchasing a spec home in Florida. We had a realtor helping us look at homes. However, on our own, we found a spec home that was in the process of being built. The realtor never showed us that house (Not sure why because it was exactly what we were looking for) I wanted to make sure he knew that we were going to finish a house being built and that we found it on our own. He was very angry that we did not mention his name so that he could get a co-broker fee. Why would he feel like he should get a cut when he did nothing in finding this home. He did know about this home being built because he mentioned it to us in his unhappy email. Also, shortly before that we put an offer on another home to which we lost to another buyer and we feel like he didn’t act as aggressively as he should which resulted in the loss. He found out that this home could be rented weekly vs. monthly and no one knew so that realtor gave him a finders fee for the house we lost. I feel like we do not owe him anything morally or legally. He got paid a fee on the house we lost and he did nothing for us after the loss. We did not look at any other houses after that. We found the spec home on our own.
Answer: Agency agreements can be tricky for all parties involved and are one of the sources of lawsuits in my state. That’s the reason I feel, that all business relationships should have contracts and all aspects of the relationship should be carefully explained at the first Buyer Counseling Session.
If there was a written agreement in place there would be no questions on how your Realtor would be paid for his time. The builder would be obligated to compensate him .
Since we don’t know what kind of business relationship you had it’s something you might have to discuss with a Real Estate Attorney in your state.
Question: If a realtor asks to show my home after our contract has expired what commission do I owe? We live in MN.
Answer: Typically, if a listing agreement expires, there is no obligation to the broker. However, if the showing is for a client that has already seen the property before, or if the showing is as a result of the previous listing, there may be something owed. I would be surprised if an agent showed a property without some sort of compensation discussion before the showing. You have an agent who is bringing you a buyer, and if the goal is to sell your home, then have the discussion about what would be owed prior to any showings. It is always best to clear things up before they get messy.
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