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help! how would you word this?
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
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help! how would you word this?
i got out of my lease today. Hooray!!!! We had a prospective tenant who had gone MIA so the apt was given to a broker after that. After 2 weeks of not responding, the prospective tenant comes out of the woodwork today to take the place. Now the broker has to be notified - she's been cut out of the deal entirely. My landlord told me to tell her (broker.) While I don't think its fair for me to have to do that seeing as it isn't my apartment, i just want to do what i can to get out of the situation. i didn't want to fight with him so i said fine. he's been a jerk as it is.
So how would you word this explanation? She literally just listed the place yesterday and has been so nice to me. I feel bad having to do this to her but at the same time, I can't forget the horrible things some other people in the real estate industry have done to me lately.
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Posted 5/26/11 8:00 PM |
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Re: help! how would you word this?
If she's listed it, she may still be entitled to commission.
It depends on whether she got the "exclusive right to rent" (which means that, once she lists it, she is the only one who can rent it, and even if the landlord finds his own tenant, she is still entitled to commission -- so she can't be "cut out of the deal") OR the "exclusive right to list" (meaning she is the only realtor that can list the property, but the landlord can still rent it on his own and not have to pay her a commission).
If it's the former, and she had the exclusive right to rent, there can still be exclusions. If the landlord -- who I am assuming is the one who struck the deal with her, since he'd have to sign off on the paperwork -- told her about the tenant who almost took the apartment and is now back in the picture, and then carved that person out of the deal, then she is entitled to nothing, but it was all negotiated upfront. (It would be a side agreement something along the lines of "If Joe Smith rents apartment within 30 days of listing agreement, listing agent is not entitled to commission.")
But if this exception to the listing agreement was not spelled out in the written contract between the landlord and the listing agent, she is still entitled to her commission (under normal circumstances, it would be the tenant).
Whether or not she will try to enforce her listing agreement or just go quietly into the night, who knows? Honestly, it may not be worth it to her to burn a bridge with the landlord. But still, if she is an agent working for another broker, she may not have the authority to release your landlord from the listing agreement.
I would get a little more info from your landlord about what exactly the listing agreement entailed before you broach this with the agent.
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Posted 5/26/11 8:14 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: help! how would you word this?
Thanks Christine, this is very helpful. I suspect that nothing was signed at all - it was very informal over the phone but i've asked my landlord and am waiting to hear back. It's been an interesting experience! At least for once it's not my signature on the line!
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Posted 5/26/11 9:38 PM |
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Re: help! how would you word this?
If there was nothing signed, then she took it as an "open listing," and should be prepared for the fact that the landlord may find someone on his own. So I would just tell her the situation and thank her for her help (and if you liked her, say you'll keep her in mind for future real estate needs).
Glad it all worked out for you, though! I know you were stressed about it. These things always seem to work out, though!
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Posted 5/26/11 10:38 PM |
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