Expert: Dick Dennis - 7/15/2008

Question
Dear Dick,

We have signed a three-month contract that runs out July 31, 2008. Do we have any further obligations to our realtor after that date, if we have not written into the contract any specific days to lengthen the contract?

Answer
Near the top of the listing agreement, Bryan, was an emply space in which your agent placed a written date. THAT is the only date that dictates how long for which the contract is good.

However, there is a paragraph in which it dictates for how long afterwards anybody to which the house was shown can be considered for which the agent can be paid. For example, if the property was shown to Mr. and Mrs. Smith at any time during the listing period and they didn't make an offer to buy but decided later to return, say, four months later, and offered to buy the property, then the agent is entitled to be paid a commission. PROVIDING, the agent at the time of expiration of the agreement gives you a WRITTEN list of people to whom the property was shown. If Mr. and Mrs. Smith was not on that list, then the agent is not entitled to a commission if the Smiths buy the property from you without an agent in the picture. Or, if the agent never provided any list whatsoever, again the agent is not entitled to a commission. That happens often, Bryan, especially from incompetent agents.

All the above is mitigated by the fact that you may re-list with another real estate agent. In that case, all of the above paragraph does not apply. Above all, Bryan, in real estate whatever is agreed to MUST be in writing. If it is not in writing, it was never said. Period. I do wish you well.

Dick Dennis         dixiedee13@aol.com