2,707,768
Hi, Seller. What do you mean, "You changed your mind"?
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John Juarez
Fremont, CA
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Brenda Mayette
Glenville, NY
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Nina Hollander, Broker
Charlotte, NC
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Karen Climer
Orlando, FL
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Buzz Mackintosh
Frederick, MD
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Richie Alan Naggar
Riverside, CA
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Doug Dawes
Topsfield, MA
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Peter Mohylsky,
Miramar Beach, FL
35,778
If no contract was signed by the buyer and seller both there is no commision.
Keep an eye on the house though. If they said we changed our mind just to get you out of the picture then sell behind your back after you listed their house and had a buyer broker agreement.. They still owe you your commision.
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Jeff Pearl
Lovettsville, VA
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Steven Nickens
Wailea, HI
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Lyn Sims
Schaumburg, IL
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Brenda Mayette
Glenville, NY
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
662,238
We enter a termination fee if the Seller changes their mind before the contract is up. If they signed one of the offers or one of them was cash with no contingencies that's another ball game and they need to seek legal council, but a full commission would be due for producing a ready willing and able Buyer.
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John Juarez
Fremont, CA
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Brenda Mayette
Glenville, NY
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Buzz Mackintosh
Frederick, MD
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
1,258,468
They changed their mind so I let them out of the contract
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Georgie Hunter R(S) 58089
Haiku, HI
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Jeff Pearl
Lovettsville, VA
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John Juarez
Fremont, CA
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Joan Cox
Denver, CO
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
1,291,326
It all Depends. I actually had this recently as well. I was able to convince my seller that she really needed to think this thru. I also lawyered up just in case. In florida, the listing agreement does have words about what happens if we have a suitable offer and the seller gets cold feet. I have to refer to the listing agreement but it is covered.
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John Juarez
Fremont, CA
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Brenda Mayette
Glenville, NY
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Buzz Mackintosh
Frederick, MD
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Richie Alan Naggar
Riverside, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Doug Dawes
Topsfield, MA
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Peter Mohylsky,
Miramar Beach, FL
1,870,353
Seller is in breach of contract. We are an attorney state so he will be getting advice on what type of trouble the buyers will have in store for him.
If it doesn't close, I am not due a commission.
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
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Doug Dawes
Topsfield, MA
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Fred Griffin Florida R...
Tallahassee, FL
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Shayne Stone
Fulshear, TX
1,100,784
"Fine, I'll pull the listing; however, the 180 day broker protection clause stays in effect so do contact me if you decide you wish to return to market."
In our listing agreements, 'offers coming in' don't necessarily earn your fee. If someone made a full price offer with no contingencies whatsoever, perhaps!
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John Juarez
Fremont, CA
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Steven Nickens
Wailea, HI
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Lyn Sims
Schaumburg, IL
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Richie Alan Naggar
Riverside, CA
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Buzz Mackintosh
Frederick, MD
414,084
My broker has never pursued a commission when a seller changed their mind before acception signing a purchase and sale agreement. Our listing agreement would allow for this, but mind changing generally happens before we have offers.
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John Juarez
Fremont, CA
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Nina Hollander, Broker
Charlotte, NC
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Margaret Rome Baltimor...
Pikesville, MD
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Richie Alan Naggar
Riverside, CA
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Doug Dawes
Topsfield, MA
6,684,621
Pay it.
Commission is owed when a willing and able buyer is found, not if it closes, Though most are paid at closing, in most states it is due when they bring in a buyer.
Read that fine print in the listing agreement.
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Buzz Mackintosh
Frederick, MD
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John Juarez
Fremont, CA
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Bob Crane
Stevens Point, WI
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Richie Alan Naggar
Riverside, CA
1,538,284
The listing agreement you and I use has the following:
If the seller hasn't accepted an offer, we're not entitled to a commission.
I would have a conversation with the seller to see what changed.
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John Juarez
Fremont, CA
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Lyn Sims
Schaumburg, IL
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Richie Alan Naggar
Riverside, CA
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Fred Griffin Florida R...
Tallahassee, FL
8,148,567
Release the listing and ask them to let you know if they change their minds. And, follow up on a regular basis.
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Jeff Pearl
Lovettsville, VA
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John Juarez
Fremont, CA
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
932,848
They haven't accepted any offers yet, so that would help. I would remove from mls asap, and let those agents that submitted offers know. I wouldn't worry about commission.
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
1,442,378
The listing agreement is a CONTRACT! Our listing agreement does not allow for one party to cancel. (Refuse to sell or withdraw the property from the market.) The cost of litigation to collect the commission in a case such as is set out here, plus the anger and enmity that it would engender in the seller...who would tell everyone how the broker is persecuting them...would make a lawsuit to enforce the contract unwise in most cases.
Withdraw the listing. Find out what the real problem is. Stay in touch with the "seller". Good luck!
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Jeff Pearl
Lovettsville, VA
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Richie Alan Naggar
Riverside, CA
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Joan Cox
Denver, CO
2,121,139
That's going to depend largely on local laws and customs, as well as the agency contracts.
Based on your question... offers have come in, but no offer was "accepted" (ie: ratified by the sellers) before they changed their minds.
As per our agency/local customs, no commission is due until a ratified contract has made it all the way to settlement.
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John Juarez
Fremont, CA
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Lyn Sims
Schaumburg, IL
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Richie Alan Naggar
Riverside, CA
759,482
What does your contract allow you to do?
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John Juarez
Fremont, CA
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Lyn Sims
Schaumburg, IL
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Richie Alan Naggar
Riverside, CA
2,573,992
If they changed their mind prior to any contract being signed (which is what it sounds like), then they don't owe a commission for selling. However, if the listing agreement has language about what happens if the seller changes his mind, then that language would have to be followed. if there is no language surrounding this possibility, there is no commission due.
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John Juarez
Fremont, CA
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
921,504
If a contract has NOT been executed their cancellatin falls within the provision for canellation in the listing agreement. Your question is not clear if a purchase contract has been executed and all contingencies fullfilled.
In some cases a buyer may expect to be made whole if they have spent real money and have receipts.
THe commmission is dealt with according to the cancellation provision in the listing agreement. I write those provision NOT THE BROKER.
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Nina Hollander, Broker
Charlotte, NC
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Buzz Mackintosh
Frederick, MD
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Richie Alan Naggar
Riverside, CA
675,581
what commission? your scenario does not state an offer was accepted to claim a commission is due. unless a cancellation provision is in the listing contract with the provisions for cancellation and compensation identified, there is no commission, imho.
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John Juarez
Fremont, CA
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Richie Alan Naggar
Riverside, CA
6,001,939
I have a clause I use for their termination and my fee if they decide to terminate prior to end of listing period.
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John Juarez
Fremont, CA
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Richie Alan Naggar
Riverside, CA
5,480,855
It depends! What are the circumstances as you interpret them? So many issues here. All costs would have to be recovered at a minimum. Might want an attorney to draftcancellation agreement with some very protective language.
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John Juarez
Fremont, CA
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Richie Alan Naggar
Riverside, CA
1,765,363
Been there, done that. Call it a day and get the listing next time they are ready. Keep your client happy and they will hopefully come back around.