Irvine, CA asked in Real Estate Law for California

Q: Am I required to pay my listing agent at the end of our contract term if my home has not yet been sold or in escrow?

Contract states, "If during the Listing Period, or any extension, Broker, cooperating broker, Seller or any other person procures a ready, willing, and able buyer(s) whose offer to purchase the Property on any price and terms is accepted by Seller, provided the Buyer completes the transaction or is prevented from doing so by Seller. (Broker is entitled to compensation whether any escrow resulting from such offer closes during or after the expiration of the Listing Period, or any extension.)"

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1 Lawyer Answer
Richard Samuel Price
Richard Samuel Price
Answered
  • Redlands, CA
  • Licensed in California

A: No, not normally. That's only if the agent procures a ready willing and able buyer, and you refuse to close the escrow or some similar situation.

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