Legal Question in Real Estate Law in California
real estate law
The buyer of my property is a
licensed realtor, who found my
property thru a mutual friend, not
my broker. I signed a contract to pay
6% commission (to be divided
between buyers agent and my
broker. I want to negociate the
buyers commission amount down,
my broker says that's not permitted
by law, because I signed a contract. I
know the buyer/agent doesn't have
to agree to less ''commission'' for
buying my house, but can't I try??
2 Answers from Attorneys
Re: real estate law
I'd be careful about trying to negotiate this behind your Realtor's back. You need to include them in any negotiations and/or discussions. Your contract is with your listing agent, and it provides that you will pay 6% commission to the listing agent. Technically, it is the listing agent who is splitting his commission with the other selling agent under the terms of their agreement as a member of the MLS, and not under your contract. The selling agent (in this case, the buyer) does not have a contract relationship with you, so you are technically interfering with your agreement with your listing agent by negotiating behind his back. It is irrelevant how the buyer found the property - your listing agreement provides (if it is the standard CAR form) that you pay the commission if the house is sold. I would have to advise against negotiating a deal, unless you have your listing agent's consent and include them in it.
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Re: real estate law
Sure. You can try. Whatever the parties agree to can be done.
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