I represent Pennsylvania Real Estate Brokers and Agents who have claims against their clients for unpaid commissions. It’s important to note that the Listing Contract between a Broker and a Seller does not require a Property to go to Settlement in order for a Broker to earn the Broker’s fee.
What should you do when you are a Broker or Agent for a Seller who refuses to accept an Offer?
Are you entitled to commission when a Seller refuses to accept an Offer? The Standard Pennsylvania Listing Contract discusses the Broker’s fee in Paragraph 5. The Listing Contract states that the Broker’s Fee is earned if a ready, willing, and able buyer is found, during the term of the contract. A “ready, willing, and able buyer” is defined as one who will pay the listed price or more for the Property.
What should you do when the Buyer accepts an Offer after the Listing Contract expires?
Under some circumstances, commission could be due to a Broker if a Seller sells their Property after the Listing Contract expires. The Listing Contract specifies that the Broker’s fee will be earned if negotiations that are pending at the Ending Date of the Listing Contract result in a sale.
If you are a Pennsylvania Real Estate Broker or Agent that feels they are entitled to commission from a real estate transaction, please feel free to call me at (610) 417-6345 for a free consultation. My office is located in Bethlehem, Pennsylvania, and I represent Brokers and Agents located in Northampton County and Lehigh County.