Holdover Commission Clause

Enforcement of Holdover Clauses #443

Legally Speaking

Commission under listing contracts has always been payable where a legally enforceable Contract of Purchase and Sale is entered into by the seller during the term of the contract. In 1997, the Multiple Listing Contract was amended to expand the circumstances under which a commission is payable. Section 5A(ii) of the Multiple Listing Contract now

Holdover Commission Clause #356

Legally Speaking

By Gerry Neely B.A., LL.B. A fairly typical holdover clause in a commercial listing contract entitles the agent to a commission if a sale takes place within six months of the expiration of the listing, if a buyer is introduced to the property by the agent during the listing period. In one case, an additional