An Alberta seller's exclusive listing expires at 11:59 PM on December 31. An offer is presented at 11:45 PM that night, and the seller accepts it at 12:30 AM on January 1. Under the RECA Rules, what determines whether the brokerage is owed remuneration?
Correct Answer
B) The remuneration terms of the written service agreement, including when it is payable
Rule 43(2) requires every written service agreement to set out its duration, the amount or method of calculating the remuneration, and the circumstances on which it will be payable. No RECA rule automatically grants, cancels or halves commission at expiry, so entitlement for an offer accepted just after the term ends turns on the terms of the agreement itself.
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A listing agreement expires on June 15th. On June 20th, a buyer who was shown the property during the listing period submits an offer that is accepted. Under typical listing agreement terms, is the seller obligated to pay commission?
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