A Licensee May be Compensated for Services Rendered Even if Transaction Does Not Close Escrow
FACTS: Based on health issues, the seller canceled the listing agreement with the consent of the listing agent. The seller wants to pay the listing agent $2,500 for services rendered.
ISSUE: May the listing agent accept the $2,500?
ANSWER: See Discussion.
DISCUSSION:
A licensee may receive compensation for services rendered even if a transaction does not close. However, the $2,500 cannot be paid directly to the licensee. The funds must first be paid to the brokerage and then paid from the brokerage to the licensee. See A.R.S. § 32-2155(A).