Question on 'Exclusive right to sell' contract with broker

I have an exclusive right to sell contract with a broker. Can I sell my apt on my own during the duration of the contract or would I still have to pay the broker commission? If so, can I sell it for less than listed with the broker? Thanks.

ari11210

in Agents and Brokers 13 years and 10 months ago

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bkmatthew | 13 years and 10 months ago

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You need to be very careful here. You may also find that the contract says you owe commission if someone is introduced to the property during the exclusive period. E.g. someone views the house, waits out the exclusive period then makes an offer that excludes the broker. It’s too late now, but I’ve heard of people incorporating a marketing plan into the contract, so the broker can’t just sit on his/her hands.

jameskoster | 13 years and 10 months ago

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No, I’m with “crown” here: sounds like you wanted an “exclusive agent” contract, but your stuck with an “exclusive right to sell.”  My best advice would be to let your broker work for you — the right broker really can add value that justifies their $$ commission.  If they haven’t brought you an acceptable offer when their contract is over, you’ll be able to list it yourself or find a different broker.

Good luck!

ari11210 | 13 years and 10 months ago

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Thanks. I ask because the contract explicitly says I ‘cannot advertise the house for sale, nor sell it for a lower price than listed with the broker’. Seems this would imply I could sell it for the same price as long as I dont ‘advertise it’.

Crownlfc | 13 years and 10 months ago

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No, you can only sell on your own if it is an “exclusive agency” contract.