REA comm when using an Option to Purchase

[sunshine]

When does the REA get his commission if a sale is made with an Option to Purchase or Lease to Buy Option? Currently considering doing this but the REA is talking about unconditional contracts and short time frames, so I am thinking it is nothing to do with the Vendor but all about his commission. Could I be correct?

Any help appreciated

Sunshine

 

[jasper]

You are absolutely correct. At the end of the day agents work for commission and if you are going to rent for lets say 2 years with the option to buy then the agent is simply not going to wait that long. I have often paid the agents commission (at a negotiated reduced rate because I am often getting a property off their hands that they cannot sell anyway reduced commission better than no commission). Just put the offer of what you want to pay in commission directly to the agent, that will sort it before you put too much work into getting this over the line and falling apart over a few grand.