Selling property to a current renter.

[Loundeann]

We listed our property for sale a couple years ago but it didn't sell. We decided to rent it instead. The agent who listed our property for sale agreed to cancel the listing and found us a renter. The renter has continued to rent our property for over two years. The renter is interested in buying it. If we sell to this renter, do we owe any commission to the prior agent?

[HauseitAdmin]

We listed our property for sale a couple years ago but it didn't sell. We decided to rent it instead. The agent who listed our property for sale agreed to cancel the listing and found us a renter. The renter has continued to rent our property for over two years. The renter is interested in buying it. If we sell to this renter, do we owe any commission to the prior agent?

You'd only owe a commission to the rental broker (for the sale of the property to the tenant procured by the rental broker) if it's stipulated in the listing agreement you signed or if it's included in any other legally binding agreement you signed with this agent. That said, we can't provide legal advice, so we recommend speaking with your real estate attorney for definitive guidance on this topic. Hope this helps!

[ferari458]

From my experience, if you’re selling to the same renter the agent found, you usually don’t owe them a commission. The agent’s fee is generally for the sale, and if they didn’t handle it, they probably don’t get a cut. Still, it’s worth checking your contract or asking a real estate lawyer just to make sure.