compensation agreement before a buyers agent will bring a buyer to me?

Question

I am trying to sell my dads restaurant without listing it and called another agent to help me sell it. Told him he would of course get 3% as well.  He wants something, in writing, stating my client will pay him before he tries to sell it or bring us a buyer. Is there some sort of compensation agreement to send him stating my client will pay his broker? thanks,

David Rainey · Accepted Answer

Yes there is a form and it\'s recommended. I am sure any experienced agent will ask for this agreement if they are in the same situation.

It protects the agent if he/she brings the buyer and guarantees they will be paid for their work.

Maybe this analogy will help

It\'s like you having world series tickets for sale and your standing outside the gate trying to sell them. But you have had no luck getting the price that you feel there worth.

These tickets mean the world to you because the only reason you had the opportunity to get these tickets is because your family has purchased season tickets for many many years. It\'s the biggest series in history and your family are not physically able to go, Besides you really need the money to help pay medical bills so your price is justified.

You ve been out here several days and it\'s starting to get really cold. You had some people offer pennies on the dollar for them, but know one so far could really afford to buy them.

So you decide to go up to the Ticketmaster window and you say if you know anyone that wants to buy tickets for right behind home plate next to the celebrities let me know. If you find someone i will give you so X.

So ticketmaster gets own the intercom and announces the tickets. Sends out mass texts and emails to all their customers etc. for hr.

People come running up to buy them because they know they\'re legit it\'s ticketmaster they sell tickets every day and are licensed/regulated.

You stop one of the buyers as he\'s approaching the window say you will sell them for less. So he buys You then walk to your car and leave,you know the ticketmaster guy attracted in all the buyers but even though it\'s a good amount you really need it,it barely covers a 1/2 of the bills owed besides he will never find out.

The cashier was watching the whole time behind the glass and saw the transaction even though you were 100+ yards away.

What can he do legally now?

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