Expert: Dick Dennis - 8/21/2009

Question
My siblings and I are selling my parent's home from a Trust.  It did not sell during the time of a realtor's contract, and we took the house off the market, partly because we were not happy with the realtor.  Now that realtor has approached us with an offer from a buyer who saw the house previously, and it is clear he is working for her.  Our question is:  do we owe him the same commission as before, even though his contract ended several months ago?

Answer
What difference does it make, Peggy? You don't know for sure that the Realtor is working for the buyer. In fact, as a Realtor, he is supposed to adhere to a Code of Ethics in which he is supposed to treat all parties fairly. If it turns out he does not, then you can take steps to correct it. In the meantime, is the price and terms acceptable? Then go with it. If not, make a counter offer and hope that the buyer will accept it. As part of the offer, the Realtor will submit another listing stipulating what the commission will be. You certainly can limit the length of time on that listing, plus it is your option to negotiate that amount to your satisfaction. It's just that it is customary that the seller pays the commission on most transactions. It is for you to decide whether the net figure gives you what you want. I do wish you well, Peggy.

Dick Dennis
dixiedee13@aol.com