Q: If a realtor agrees to lower the commission percentage does she need to create a new Listing Agreement?
Current agreement at 5% but has agreed to go to 4% but says that she cannot change the listing contract that her firm does amendment forms instead. Am I bonded to the original contract if I sign an amendment form?
Current agreement does not seem right. She has 5% listed as the Broker Fee but on the listing Agreement the compensation distribution is listed as follows: Seller Agent 0%, Broker Agent 2% and Buyer Agent 2%. The distributions only equal 4% but she will not change it because she says that is the way her firm does their contracts. So now she has agreed to make the sale (broker) commission 4% but says she will do an amendment because she said she cannot change the original listing agreement. If I only sign an amendment form am I still liable for the 5% shown on the original Listing Agreement? Please help.
A: An amendment seems right. You are changing one term, not re-listing the property.
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