Real Estate Agents - Agents contract ending, can I lower the commision if I renew contract

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Agents contract ending, can I lower the commision if I renew contract

jillyfish

2008-02-10, 5:25 pm

I have a house listed with a major real estate company, the property
is in Pierce County WA state. I signed a 6%, 6 month contract with my
agent. The 6 month date is coming up in a few days. This last week
there has been an offer on the house, I rejected and made a counter
offer and I am waiting to hear back if the potential buyer is going to
take my offer, make another offer or just forget the whole thing. I am
not sure if I want to renew with my current real estate agent. If I
do, I want to renew for only 3 months at 5%. Are there any legal
contract issues with renewing at a lower commission while we are
negotiating an offer? What happens if the buyer who started
negotiating during the %6 contract period with the agent, agrees to a
price and finalizes the deal after I have renewed the contract with my
agent at %5?

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