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When Is a Real Estate Commission Earned?
When is a real estate commission earned?  This is a most important legal issue for real estate brokers and agents to know about and understand.
Real estate law in some states of the U.S. is that a real estate commission had been earned if a buyer was procured who made an offer that matched the price and terms specified in the listing agreement, or on other price and terms the seller might find acceptable.
According to those laws, a completed transaction was not a required condition for a real estate commission to be earned by the agent.
The California Appellate Court ruling in 2012 (RealPro, Inc. v. Smith Residual Company, Fourth Appellate District Court) changed that in CA. In the RealPro case, the buyer had made a full-price, per the listing, $17 million offer on terms that the seller found acceptable. However, the seller then increased the listing price to $19.5 million. The buyer declined the price increase. But after that the buyer’s broker, as a third-party beneficiary, sued for his commission.
The trial court in RealPro focused on that part of the listing that set forth price and terms, which said “$17,000,000 cash or such other price and terms acceptable to Sellers…” The court ... more

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