Is there a real estate law that says you have to pay a commission to an agent that shows you the property you plan to buy?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Is there a real estate law that says you have to pay a commission to an agent that shows you the property you plan to buy?
An agent showed me some condos and I have decided to buy one of them.
Asked on July 9, 2012 under Real Estate Law, Kentucky
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Custom and practice in the real estate industry is that the listing agent (agent representing the seller) gets paid a real estate commisison from the seller for a successful sale and if the property listed for sale is in the Multiple Listing Service (MLS), the selling agent (agent for the buyer) per rules of the local association gets a percentage of the listing agent's commissions paid by the seller.
As such, the buyer does not pay any real estate commissions for the purchase of a property unless he or she signs a written agreement to do so.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.