To make a long story short, I’ve known my realtor for years and trust her but have only known her professionally. In January I decided to sell a rental property I own in North Carolina and entered into an exclusive right to sell agreement with her. It states that if a buyer is found for 150k her fees are deemed “earned” which is where my question lies.
As we all know the market has boomed since then but she’s found a buyer who is preapproved at 150k. If the potential buyer makes an offer at 150k am I stuck with her fees even if I want to now sell my house at a higher price?
You might wonder where my unethical assumption comes into play, here’s some contextual information if you want to read further. Since my tenants left she has not been clear at all about the process going forward with the sale. She’s procured a contractor to do all the necessary repairs (the tenants were really hard on the property) which totals about 15k, she’s stuck to a 150k selling price, and she has a buyer lined up even before the buyer has viewed the property. Part of me wonders if she is trying to (or help someone else) buy the house 20k under retail price. At this point in the market why not list it and take as many offers as possible? And at this point, if I refuse to sell at 150k, contractually she still gets her fees.