Vancouver Condo Real Estate Video Blog #668 - May 29, 2011
Does the Seller Still Have to Pay A Full Commission if They (the Home Owner) Find the Buyer?
Ian Watt video blogs about how sellers are obligated to pay the agreed commission on the contract whether the listing agent finds the buyer or the home owner does. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years. Copyright iWatt Media © All Rights Reserved 2011 www.iWatt.ca .
Ian Watt: Hi good afternoon it's Ian Watt in Downtown Vancouver. Of course when we sign up a listing it's states with the commission. But I got an email from a perspective client the other day and they asked a simple question. If they bring their own buyer to the table when they're selling their place do they have to pay the full commission? And the answer is very simple yes they do because the contract that we signed the commission up for states how much they're gonna pay for my services. Now it doesn't matter whether another avenue of marketing brings in that buyer whether you posted it on Craigslist and I didn't even know that you did another add on Craigslist and another buyer comes through. Yes, if I'm handling a property what stated on the contract is what you're going to pay. Now on top of that if another realtor brings the buyer what happens is I split that commission with the other realtor but nonetheless it doesn't mean that the commission is cut in half if you bring a family member, if you bring someone off the street or someone within the building wants to buy the condo that were marketing. Regardless from where the buyers come from if I sell it I'm getting the commission which we all agreed upon from day one. My name is Ian Watt and if you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!