Do I need to pay any commission fees if the house doesn’t sell before the listing agreement expires? There is a 6 of selling price AND a flat fee?

In the listing agreement, there is a section that says ‘If a sale 6 of the gross
selling price of the property’ is due to broker, as compensation, however right
after it says ‘and 470 flat fee amount’. Do I owe 470 even if the house doesn’t
sell before listing expires? Or, is that 470 owed if the house sells, along with the
6? Since I have no clue what that 470 is for as I am already responsible for 6
if house sells, I need to ask. Not sure if anything is owed or if agent can ask for
any money once listing expires, even if the house doesn’t sell?

Asked on June 30, 2017 under Real Estate Law, Nevada

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Without reviewing the entire contract and the quoted text in context, it is impossible to say for sure. Whatever the contract, read as an entirety and in context, says is what you have to pay: it is perfectly legal to have to pay a flat fee even if the home does not sell; or pay a commission plus a fee. There is no general guidance that can be provided, and the language you quote is too out of context to answer your question.


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