Is my real estate agent entitled to money if I find someone to lease my home instead of him?

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Is my real estate agent entitled to money if I find someone to lease my home instead of him?

My home is on the market for sale, lease, or lease purchase. My agent informed me he would be entitled to money, now and ongoing, as long as the tenants continue to live in the home.

Asked on February 8, 2011 under Real Estate Law, Georgia

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Do you have a contract with the real estate agent that gives them exclusive right to sell or lease the premises?  Does your agreement reserve the right for you to also do so? How the agreement is worded will determine the guidance one will give here.  If they have exclusive right then you may be out of luck. But the fee should only be a one time fee - an apartment rental fee - and not continue on indefinitely if you choose to keep the tenants longer than the initial lease term.  Take the agreement to an attorney to help you evaluate and respond to this shylock. And talk about termination of the agreement as well. Good luck to you. 


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