Do you use the broker protection clause?
It usually says that a property owner will pay the listing broker a commission if, after a specified number of days after the expiration of the listing, the owner sells the property to someone the broker showed the house to or introduced to the seller.
Can this clause protect a broker who was the procuring cause of the sale from losing a commission because the home was sold after the listing agreement expired?
How long does the clause usually last and when may and when may it not be enforced?
If the owner signs a new listing with a new broker after the expiration of the contract and a broker protection clause is in place under the old listing, can the original listing broker seek a commission if the home sells under the new listing?
What are your thoughts ? Thanks.....
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