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They should if they can bump you because of it but it depends on your agreement's wording. Some sellers will take a cheaper back up offer if they can and they have to wait on you and don' want to.
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∙ 9y ago
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Is a real estate broker still entitled to a commission after an offer is rescinded?
no
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In a business to business transaction the seller offers the buyer a 2 percent discount for paying a bill early . Assuming the buyer took advantage of this offer how much would be discounted on a 1000?
The 1000 would be reduced by 20 to leave 980 to pay.
On a exclusive agency does the agency get the listing and selling commission even if another agency sells?
The Exclusive Agency listing authorizes the listing broker, as exclusive agent, to offer cooperation and compensation on blanket unilateral bases, but also reserves to the seller the general right to sell the property on an unlimited or restrictive basis.Unless the buyers agency is a member within the same Multiple Listing Service, the buyers agent should be certain to get a commission agreement in writing from the listing broker, prior to writing an offer to purchase. Without this agreement, the listing broker does not have to pay out a coop commission.
Does the seller of a home have to notify the buyer if offer was denied?
Only if the owner is acting as the agent, otherwise the agent can notify the buyer.
What broker deserves commission when they trap the buyer into signing an agreement but does not help them succeed in their goal?
A buyer or seller should never sign anything with any broker if he or she feels "trapped". The buyer/seller is actually "employing" the broker, so in reality, the buyer/seller calls the shots. A broker is in the picture to offer information, assistance, knowledge and skills. Ultimately, all decisions are that of the buyer/seller. I am a broker and I feel strongly about informing my clients that just because a prewritten form with blanks already filled in is recommended, it can often be edited. Also, signed contracts can usually be renegotiated or even cancelled. Because every situation is different, it may be best to talk to the broker's Broker in Charge or even a Real Estate Attorney about your specific ordeal.
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Who is a stock broker?
Stock brokers are individuals and companies that buy and sell securities for their clients. They act as middlemen between buyer and seller and executes the orders of their customers. -- A stock broker is an industry-regulated professional who buys or sells stocks for an individual or institution. Depending upon the type of broker, their duties will also vary; A discount broker usually just executes your orders, while a full service stock broker will also offer advice, recommendations and tips along with conducting your transactions on your behalf. People who want to work independently generally prefer a discount broker. But to work independently, you should have in-depth knowledge about the stock market. Otherwise, it's best to rely on the expertise of a professional full service broker to help you with your investment decisions. .
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What do mortgage brokers do?
Mortgage brokers do not lend money. The have knowledge of the lending market, and guide potential buyers, who need to find a mortgage to purchase a property. The mortgage broker offers advice and recommends the most appropriate mortgage for the buyer. Advice is usually free, but the broker will take a commission from selling a mortgage, paid by the mortgage lender. Its best to seek advice from an independent broker in order that are not tied to one lender, or can only offer you a limited range of mortgage products. As well as mortgage advise, mortgage brokers will also offer other products such as insurance.
What if seller has an offer and now decides not to sell?
Question is too broad and needs more clarification - offer to sell what? AS A GENERAL RULE: A seller may, at his discretion, withdraw an offer to sell which, in the sellers estimation, does not draw a price sufficiently equal its worth. An exception might be; if the seller has a contract with someone (i.e.- with a real estate broker - E-Bay - etc) to deliver a "ready, willing, and capable buyer" and THEN fails to sell, he may be liable to owe a commission to the broker equal to a percentage of the sale price for not completing the transaction.
