Q: Does a real estate agent have a right to a commission after the hold over period on the contract?
The agent did not show the home nor has the listing been active since 10/15 but she had a 120 day hold over. A buyer has come forward that I showed the home to. Does the real estate agent have any right to a commission after the hold over period has expired?
A: Check your agreement for specifics. From your facts, the holdover period is currently active. Unless the agreement states otherwise, the tolling (counting) for the potential buyer would be on the date you were contacted (i.e. covered under the holdover period). Therefore, the agent would have a right to a commission--even if the agent literally did nothing (I know this does not seem fair). Be aware that there are serious consequences if you try to subvert the agreement by setting the offer date after the holdover period. I recommend that you contact a real estate attorney to review your options (most real estate listing agreements have an exception clause).
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