Looking over the listing contract my agent sent me to sign and the language used in the contract seems to imply that if for some reason my house doesn’t sell right away that I’m obligated to pay them a commission if I sell the house at any later date, basically forever. Here’s the contract language:
Seller further agrees that Realtor shall have the Exclusive Right To Sell said Real Estate for a period of twelve months until
midnight of __________________________________ (expiration date).
EXTENSION: If a Contract to Purchase is accepted and title is conveyed after expiration of this Agreement, Sibcy Cline, Inc.
shall still be paid its full real estate commission as set forth in this Agreement.
PROTECTION PERIOD: Seller agrees to pay Realtor the commission if the Seller, acting as Seller’s own agent within 90
days after expiration date, conveys or agrees to convey the Real Estate to any Purchaser, whether individually or in
combination with others, with whom Seller negotiated during the term thereof, or to any Purchaser whether individually or in
combination with others, who was shown the Real Estate by Realtor or any person during the term hereof. This protection
clause shall be null and void if the Real Estate has been listed exclusively with another broker by written agreement.
My question is specifically about the “EXTENSION” clause and the “PROTECTION PERIOD” clause. Doesn’t this mean that I legally owe them a commission no matter when I sell the house, even if it’s 10 years from now? I asked my agent if she could amend the contract and she said that she’s not aloud to change it because it’s prepared by their corporate lawyers.