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socrateaser, Lawyer
Category: Legal
Satisfied Customers: 38913
Experience:  Retired (mostly)
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On commercial property , we were not told that if the listing

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On commercial property , we were not told that if the listing was for best offer , and we didn't take that offer because we thought the offer was to low , that we had to pay a commission on what they said was the best offer even if we didn't sign the offer and we did not think the offer was what we wanted. They did not tell us that , they did not explain it at all, my Wife is 81 and we have commercial property she is the owner and they are pushing us real hard to sell to the one with his offer , witch we did not sign, its scarring us both into thinking that we might be pushed into having to pay a Huge commission on our property without a sale , I sent an email to the person it is listed with and told him we thought it was not the best offer , and would like to Waite a couple years now and see if the market would get a little better

If your listing agreement states that you must accept the best offer made within a specific time period, then you could conceivably be required to pay the commission, even if you refuse to sell. However, the standard commercial listing agreement (C.A.R. form CLA) does not require you to accept the "best offer." It requires you to accept an offer that is exactly equal to the price and terms stated in your listing agreement. Any offer that does not match what is stated in the listing agreement can be rejected without any liability for the sales commission.

Review your listing agreement carefully, because the real estate agent may be trying to push you into selling when you do not have to sell. If so, then you can file a complaint with the Bureau of Real Estate at this link.

Please let me know if I can be of further assistance.
Customer: replied 4 years ago.

There was no amount in the agreement it says best offer , and the agreement with the agents will expire on October1,2013, I cant believe that we would have to pay a commission on something that was not sold , and was not explained to us what the best offer was all about.

The property is worth at least 11,000,000.00 the offer is 9,800,000.00 and we don't want to sell.

You could claim that you didn't understand, and that the agent's failure to state a listing price is legally unconscionable (shockingly unfair), since the agreement could permit the agent to permit a purchase of the property for next to nothing.

I would complain to the BRE and see what they have to say -- before you do, you may want to discuss the issue further with the agent. If he/she thinks you will file a complaint, he/she may back off.

Just don't threaten to complain unless the agent changes the deal, because that would be criminal extortion. You can suggest that maybe the Bureau of Real Estate should be asked about the ethical propriety of the agreement, and see what the agent says. That would put a bug in his/her ear, and he/she may back off. If not, then file a complaint.

Hope this helps.
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