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?
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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 11 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.
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