Real Estate Contracts And Financing Documents
Most people choose to hire the services of a real estate agent when buying or selling property. An agent that represents a seller spends a lot of time going over the value of the property to be sold and determining the way to market it in order to obtain the best price for the client. An agent representing a buyer similarly may spend a significant amount of time for his or her client. A good agent invests a lot of time researching appropriate properties to show, visiting various locations with the client and spending additional time bargaining with the seller’s agent for the lowest purchase price possible.
Unfortunately, the nature of the relationship between a real estate agent and a buyer or seller can lend itself to dispute and disagreements. In most situations real estate agents pre-establish a set commission fee, or percentage amount, that they ask their clients to pay once a property sale occurs. However, situations develop where a party refuses to pay an agent their commission because, perhaps, the party doesn’t believe that the agent truly assisted them in buying the property or because they feel that the fee is too high—especially where property has sold quickly.
In other cases, a client may come up with alternatives to buying the property through the agent in an effort to avoid paying the commission. In some cases, a real estate agent may enter into a representation agreement, or contract, with a client and then discover, down the road, that the client has been working simultaneously with a different agent and has purchased a property with that person’s assistance. In that situation, the real estate agent may be entitled to some compensation from their former client.
In Little Rock, Arkansas, McMullan & Brown is your best choice to enforce the rights of real estate agents for both unpaid commissions and broken representation agreements as well as other issues concerning an agent’s rights. Contact us to find out how what recourse you may have.