http://www.dos.state.ny.us/cnsl/rebcommdue.html

The above link is to the New York Dept of State's Legal Memorandum (LI10) entitled, "Defining When A Real Estate Broker's Commission Is Due."

Being a Realtor, I have a keen pecuniary interest in learning what the Counsel's Office has to say on the matter because I work very hard for a living. This market is a tough one. There are so many variables that can make a transaction falter that one may find oneself wondering what some of the issues are, pro or con, to help ensure if a Realtor earns his or her pay that they are actually paid for the services rendered. 

Besides being an excellent source of information, there was one line there that caught my attention and inspired me to post this link on my blog (and encourage all to read what the Department of State has published regarding the subject matter). It would be nice if they would update their digital letter as the court cases are oldies but goodies. I myself would like a more modern incident of litigation to explain where we all stand on the subject at hand. However, the cases quoted are eye openers and will not bore anyone who bothers to take a moment to read what was written.

To quote part of a sentence near the very end of the memo: "...there is an implied covenant of good faith and fair dealing which requires each party to the contract to use their best efforts in performing their obligations and to not intentionally do anything to thwart the other party from performing."

Hmm... have any of you ever felt thwarted? I mean ANYONE. I know I have. I've met some very difficult people in every aspect of the profession inclusive of Buyer, Seller, Broker, Lender, Loss Mitigation Specialist, Irate Family Member, Tenant From Hell... Believe me when I say my list is long (and as of this writing I haven't even been at this profession for a year). I want to hear from everybody who has ever been frustrated trying to buy or sell a home.