Legal Question in Real Estate Law in New York
If a standard real estate listing agreement remains silent (contains no language) with respect to whether or not a commission is due and payable to the listing broker in the event of the homeowner finding his own buyer by himself without the broker's help, would the broker still be entitled to collect a commission or would a specific clause need to be written into the agreement in order to exclude that possibility?
1 Answer from Attorneys
The specific clause you're looking for is whether the listing agreement is stated as being an "exclusive" listing. If it's not an exclusive listing, then you can sell on your own without a commission. If it is an exclusive listing, the listing agent gets paid even if you find your own buyer. Honestly though it's not a good idea for you to read the contract and make a determination; you really should have a lawyer take a look. There are other issues which come into play.
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