Legal Question in Real Estate Law in Florida
real estate agent agreement
Can a real estate agent legally bind the seller to sell a home by tying the commission to a fixed sales price?
For example, 6% on $300,000.00; and then the seller finds buyers ready willing and able to buy for $270,000.00. Seller is eager to sell and feels pressured by the contract to sell for $300,000.00 to satisfy the contract terms meeting the 6% commission.
What course of action does the seller have in this case?
2 Answers from Attorneys
Re: real estate agent agreement
no
Re: real estate agent agreement
Where land is owned by more than one person, disagreements often arise about the disposition of that real property. When a disagreement cannot be resolved, the courts have authority to partition the land.
The partition statutes govern actions for partition of real property and, in many cases, actions for the partition of personal property. The partition statutes do not apply to property divisions under the Family Law Act or in other types of cases specifically governed by other statutes.
A listing agreement lists a desired asking price for the property. In today's market, it is rare that the selling price is equivalent to the asking price and generally will be substantially less.
An owner is not bound to sell the property at the original asking price and a realtor cannot force you to do so. If you have a viable offer, then you have the right to accept it regardless of the realtor's commission. You need to have an attorney to represent you in the transaction so you should hire one now who can deal with any disagreements with this realtor.
Scott R. Jay, Esq.
Related Questions & Answers
-
Partition Action in FL What is a partition action? How do I file one? Asked 10/25/07, 12:04 pm in United States Florida Real Estate and Real Property
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
