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Buying or Selling a Home/Going from renting out to selling a house

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Dear Ms. Bryan

First of all, thank you very much for volunteering on this site!

Brief background:   We were trying to sell a house in Louisiana for a while but since we couldn't, we decided to rent it.  The sales agent passed us onto their property mgt section.  Through them we rented our house out.  -   The contract we have w/the rental agent only specifies the amount of rent, nothing about option to buy.  

Q: Should the renter want to buy our house, would the renting agent - whom we hired - have any right to any commission?

Q:  Am I under any obligation to retain my rental agent for any period of time?   In other words, after they found a renter (who appears to have a rental agent as well) for us, what sort of obligation - if any - do I have to them?  Right now they are getting 10% of the rent.

Q: Under what circumstances would it be OK for me to make direct contact with the renters?   

Once again, thank you very much for volunteering on this site!  
Sincerely,
Pablo Durissimo

Answer
Hi Pablo;
Your question has a couple of possible answers depending upon what your agreements were and how they were written.  If you have a contract with the rental agent was there anything about the duration of the contract?  Once the contract expires you are free to do whatever you wish and certainly have the right to contact the people renting your house (unless there is something that specifically states that you will not contact the renters. I doubt that though.)  You are under no obligation to pay a commission to the rental agent if the renters decide to buy the home unless that agent has an agreement in writing with you that identifies that activity and service as well as what the commission would be.  Also; depending upon the contract there might be wording that says how long you must retain the rental agent.  However, if you decide that you no longer want to rent your home there is no way you will owe the rental agent unless the contract specifies that.  If you have any questions about the wording; you might want to run it by an attorney.

Best wishes.

Jessica Bryan

Buying or Selling a Home

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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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