Q: In New Jersey, do I have to pay my realtor commission for selling my house if I found the buyer myself?
[Real Estate Law] - We signed a contract with our realtor for one year. However, we are far from satisfied with the realtor's performance. The house has been on the market for 5 months and the realtor has failed to attract any real interest in the property. We have removed the home listing from the market for the time being. Recently, a couple who were interested in buying the house got in touch. They were in fact the same couple who were the first to visit the house when it was listed. However, they were not referred or directed by the realtor. Initially, they felt that the price was outside of their budget so they moved on. However, their interest was revived when they saw that the listing was no longer on the market and wondered whether the price could be lowered in a "for sale by owner" situation. If we were to sell to these individuals who had no direct dealing with the realtor, am I still legally obligated to pay the realtor a commission due to the existing contract?
A: Probably, you need a lawyer to review the contract and tell you, your rights and liabilities as every contract and situation is different.
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