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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
What is the protected period in real estate?
The protection period in a listing agreement is specifically there to protect the real estate agent. For a certain amount of days after the contract expires, if any of the potential buyers that the seller's agent brought in actually buy the home, then you will still owe them the commission.
How long are most realtor contracts?
The length of the contract can be three months, six months, a year, or any other period you choose. Agents often don't like taking listings for less than a month because they don't have enough time to market the house before the listing expires. A six-month listing is average.
How can you get out of a contract with a realtor?
A: Yes, you can terminate the contract with your realtor. The terms by which the termination can be made should be spelled out in the contract. If there are no specific contract terms that spell out a penalty for early termination then you are probably not obligated to pay him anything.
Are you obligated to a realtor?
A: First, he is obligated to give you a copy of that agreement and should have given it to you right away. Typically, if you have signed agreement the terms of that agreement will dictate how long you are obligated to that Realtor. A: Contracts typically have an ending date as well as a beginning one.
Do you have to pay a realtor if you don't sell your house?
Generally speaking, if your house doesn't sell for what ever reason, no commission is due to the listing agent.
What is a protection clause in real estate?
The Protection Clause in Real Estate Deals An exclusive right-to-sell listing agreement includes a clause that entitles the real estate broker to a commission after the listing expires or is canceled.
What is a protection period in real estate?
The protection period in a listing agreement is specifically there to protect the real estate agent. For a certain amount of days after the contract expires, if any of the potential buyers that the seller's agent brought in actually buy the home, then you will still owe them the commission.
What is an extension clause in real estate?
An extender clause is a type of provision in an exclusive real estate listing agreement. In order for the agent to receive their commission, the buyer must be someone to whom the agent showed the property during their time as the listing agent. An extender clause is also known as a protection clause or a safety clause.
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