Real Estate Broker Entitled to Commission Pursuant to Exclusive Sale Listing AgreementBroker Was Permitted to Show Buyers Other Apartments
Sellers of a cooperative apartment (co-op), had retained a broker to sell their apartment pursuant to an "exclusive listing" agreement (agreement). The agreement stated that the asking price would be $1.65 million and that the sellers would pay the broker a 6 percent commission. The broker had arranged a "photo shoot" and had prepared a floor plan and had begun to show the apartment at open houses and by appointment. A bidder had made an oral bid of $1.5 million which was acceptable to the sellers.
