I want to sell my house to build on some land I have and just have a question about the contract. Cant post screen shots so I’ll copy/paste. Sorry if the formatting is weird.
Does this mean the selling agent gets 6% while the buyers agent gets 2.5% for a total of 8.5%? Or is it 6% total with 3.5% going to listing agent and 2.5% going to buyers agent? Thank you for any advice.
Contract
Broker agrees to employ Broker's best efforts to sell or to secure a contract for the sale of the property for a price of and in return. Owner agrees to pay Broker a total fee of $
or a total commission of
6.000% of gross sales price or a total commission of
% of an amount calculated by if. Broker, Owner, another broker, or any other person or company produces a Buyer who is ready, willing, and able to purchase the property on the terms described above or on any terms acceptable to Owner. Owner and Broker agree that there shall be no variation or exception in the amount of the fee or commission to be paid, unless specified under Paragraph 30. The brokerage fee shall be earned, due and payable when an agreement to purchase, option, exchange, lease or trade is signed by Owner. However, if Owner shall fail or refuse to sell the described property for the price and terms set forth herein, or if Owner shall fail or refuse to complete the sale of such property under any written Agreement to Buy and Sell Real Estate to which Owner has agreed, Broker's full fee shall be due and payable by Owner.
Owner authorizes listing Broker to offer to compensate other Brokerages in the following amounts of U.S. dollars, percentage of
gross sales price, or percentage of an amount other than the gross sales price:
Buyer Agency (up to) 2.500% of the gross sales price and/or $
: Transaction Brokerage (Non Agency) (up to)
% of an amount calculated by
: and/or
% of an amount calculated by
% of the gross sales price and/or $
.:and/or
Question about contract with listing agent.
byu/HEY_UHHH inRealEstate
Posted by HEY_UHHH