Exclusive Right To Sell Agreement New York

A New York real estate agent listing contract is a written contract between a real estate agent and a person in the market to sell a property. Once a listing contract is signed, the person becomes the agent`s client and the agent must represent their client to the best of their ability to obtain a fair offer for the property. This obligation is beneficial for both parties, since the agent receives a commission (percentage of the sale price) once the sale is completed. It is important that clients understand that they are able to negotiate the terms of the commission/royalty before signing the agreement. The agent should receive a fair percentage, but only if the sale is completed and the corresponding efforts have been made by him. Here is an example of an alternative language offered by our affiliated brokers, which better protects home sellers by making the receipt of the commission subject to the actual conclusion of the property or the conclusion of the sale. When the broker provides the buyer, the owner undertakes to pay the broker a commission of [ ] % of the sale price at the conclusion / title and to compensate the broker a commission of 1% of the sale or exchange price of the property. Property Disclosure Statement (RPP ยง 462) – A seller of real estate must provide the buyer or buyer`s representative with a copy of this standardized disclosure statement. My question is this: with regard to this clause – I have terminated my contract, I am in the 90-day protection period and someone was approached by someone who saw the house for the first time at an open house held by a former broker. Can I talk to this potential buyer during the 90-day protection period? That is, negotiate, but not sell? The above clause uses the words sold and exchanged…