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Buying or Selling a Home/about listing related expenses
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Question
Hi Jessica,
I found the following provision in my listing agreement.
If seller renders the property unavailable or otherwise defaults in any manner, Seller shall pay to Broker, upon written demand by Broker within four business days of written demand, reimbursement of out-out-pocket expenses including but not limited to marketing, advertising, office expenses, Multiple Listing Service (MLS) fees and printing. However, such payment shall not release Seller of the obligations of this Agreement.
My current listing agreement will expire very soon, and I'm thinking of changing a listing agent. But I'm not sure the typical expenses of listing I have to pay to my current agent if I decide to use another agent. Thanks!
Dear Yan;
I don't know what your contract says since all contracts are not alike. However, most listing agreements, once expired are no longer valid and there is no need to reimburse that agent. You should read the agreement carefully to understand all of the provisions and responsibilities and if you still have questions ask the agent for an explanation.
~Jessica Bryan
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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