What Is a Holdover Clause in a Real Estate Listing Agreement?
A holdover clause, also called a protection clause, is a provision in your listing agreement that extends your agent's right to a commission for a specified period after the listing expires. If you are signing a listing agreement in Kamloops, this is one of the terms you should understand clearly before you put pen to paper.
If your listing expires and you subsequently sell the property to a buyer who was introduced to the property during the listing period, whether through showings, open houses, or other exposure, your former agent is entitled to their commission even though the listing has technically ended.
The purpose of this clause is to prevent sellers from waiting out their listing agreement and then selling privately to a buyer the agent found and worked with, thereby avoiding the commission. From the agent's perspective, the clause is a reasonable protection for the work they performed.
The holdover period is negotiable and is specified in the listing agreement. Typical holdover periods range from 30 to 90 days, though longer periods are sometimes included. Before signing, understand how long your holdover protection extends and what the specific trigger conditions are.
If you choose to re-list with a different agent after your listing expires and a sale occurs within the holdover period, there may be a commission obligation to the original agent. Your new agent's commission may be in addition to this obligation. Clarity on this point before re-listing is essential.
The Kamloops Home Team explains every element of our listing agreements in plain language before you sign. If you have questions about any term including the holdover clause, we welcome the conversation.
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Kamloops Home Team | Royal LePage Westwin Realty
Top Royal LePage Team in Kamloops - 2024 & 2025 | 24 years combined experience helping buyers and sellers in Kamloops BC and surrounding communities.
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