When to pay the Estate Agent their commission?

Last activity 14 July 2024 by Modicasa

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Roben PMember13 July 2024 07:57:15

Just sold our Trullo in Puglia and our agent says that the commission is due shortly after exchange. In my contract it says to pay before the sale deed is signed at the notary.

So what is the norm?

TIA

johnvpintoNew member13 July 2024 17:34:53

@Roben P I’m not familiar with the customs in Italy, but as a 50 year, California, real estate broker, I would think the appropriate way to handle compensation is that closing, with all the other disbursements

ModicasaContributor14 July 2024 04:44:25

175

Your commission is due technically 'when the affair is concluded'. That legally means at compromesso, as the deal is done at that point. However, if there are clauses inthe compromesso that could nix the sale then you can argue that you would pay commission later. Personally I take commission at the final act, because that is when my work finishes, but most agents want paying at compromesso. If however you have a contract that says you pay at final act, then you pay just before the final act - as all the details need to be written into the text of the act for anti money laundering laws.

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