Agency
A Wyoming licensee's agency agreement with a buyer expires. The buyer then makes an offer on a property the agent showed them during the agency period. The agent:
AIs automatically entitled to a commission even without a current agreement
BHas no claim to a commission unless the agency agreement is renewed or a protected period clause applies✓ Correct
CCan sue the buyer for breach of contract
DAutomatically receives a 50% commission
Explanation
Without a valid, current buyer's agency agreement (or a 'protection period' clause covering buyers introduced during the agency term), a licensee has no contractual basis for a commission if the agreement has expired. Good practice is to address this with a protection period clause in the buyer's agency agreement.
Related Wyoming Agency Questions
- In Wyoming, a real estate licensee's agency duties include all of the following EXCEPT:
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