Whats a carry-over provision?
At the expiry of your contract, you may still have an obligation to pay a commission to your listing agent if a buyer who was introduced to your property during the listing period through the efforts of your agent subsequently purchases your property within the “carry-over” period, sometimes referred to as the “hold-over period”. This is a negotiable time period which will typically be in the range of 60 days or more. This carry-over provision with the original listing agency is cancelled if you relist your property with another real estate company.
