Exclusive Right To Sell Agreement Ny

2.PROTECTION PERIOD – If, within 90 days of the expiry of this agreement, the property is sold, exchanged or leased to a person or party to whom the property was shown during the duration of the list, the owner agrees to pay the broker and, if so, a cooperative broker as if the broker had made the sale, exchange or lease. Note: These definitions are provided to make it easier to categorize lists in MLS compilations. In any area of conflict or inconsistency, priority is given to the law or regulation of the state. If national law allows brokers to list real estate on an exclusive or open basis without establishing an agency relationship, listings should not be excluded from MLS compilations, as the listing broker is not the seller`s agent. (Adopted 11/93, modified 5/06) My question is this: with respect to this clause – I have terminated my contract, I am in the 90-day protection period, and I have been approached by someone who has seen the house for the first time during a house opened by former brokers. Can I talk to this potential buyer during the 90-day protection period? That is, negotiate, but not sell? The above clause uses the words sold and exchange. Now, if I just talk to the buyer, do I owe the commission to the real estate agent, even if the sale itself comes after the end of the protection period? Exclusive right to sale: a contractual agreement under which the stockbroker acts as an agent or as a legally recognized non-agency representative of the seller (s) and the seller (s) agrees (s) to pay a commission to the listing broker, whether the property is sold by the efforts of the stockbroker, seller or another person; and a contractual agreement under which the stockbroker acts as an intermediary or as a non-agent representative of the legally recognized seller (s), and the seller (s) engages, to pay a commission to the broker, whether the property is sold by the efforts of the broker, seller or anyone else, except that the seller may designate one or more individuals or legal entities as exceptions in the listing agreement and that if the property is sold to an exempt individual or corporation, the seller is not required to pay a commission to the stock exchange.

Comments are closed.