My listing agreement ended. Why do I have to pay my former broker a commission?

My TAR residential listing agreement ended July 1. A buyer who looked at my house in June submitted an offer on July 20 that I accepted. Today, my former listing broker called and said I owe her a commission on this sale-something about a protection period and this buyer being on a list she gave me. Do I have to pay the broker? Check Paragraph 5E of your expired listing agreement-TAR Residential Real Estate Listing Agreement, Exclusive Right to Sell (TAR 1101)-for details about your protection period. You do not have to pay this commission if any of these situations exist: • The protection period ended before you reached an agreement to sell the property to the buyer. • At the time the sale was negotiated, you had the property listed with another broker who is a member of the Texas Association of REALTORS® and you are obligated to pay the new broker a fee for the sale. • Your former broker didn't deliver the list of names within 10 days of the listing's expiration. • The buyer's name is not on the list provided by your former broker. Otherwise, you are legally obligated to pay the commission unless your former broker breached your listing agreement in some way before it expired. If you think that may be the case, you should seek legal counsel as to whether a breach may have occurred.

How to buy more than the house

In a real estate deal, you can ask for anything. While the other party doesn't have to agree to your request, everything is negotiable ... even items that don't usually stay with a property. Buyers sometimes ask for items like the refrigerator or clothes washer and dryer to transfer or "convey" with the property, but the possibilities don't end with appliances. Do you love the seller's wall-mounted TV or riding lawnmower? You may be able to keep them. I've heard of a buyer who asked for the seller's six goats to remain on the property and one buyer who wanted to keep the potted plants. If there's something you want in addition to the property, talk with your Texas REALTOR®. He or she can help you present your request in writing to the seller using the Texas Real Estate Commission's Non-Realty Items Addendum. Your Texas REALTOR® can help you present your offer and any requested conveyances ... just in case you want to keep the goats.

An easy way to lower the cost of homeownership

In Lehman's Terms Texas property owners scored several victories during the most recent session of the Texas Legislature. I think the biggest of these victories is landmark legislation that could lower your property tax and prevent a tax on real estate sales-important if you ever buy or sell property. I say "could" because the legislation approved by the Texas Legislature puts the decision to approve these historic measures in the hands of the voters. That's right. Proposition 1 on your November 3 ballot, if passed, will lower the cost of homeownership. Proposition 1 will increase your homestead exemption by 66%, which will lower your property tax. Proposition 1 will ban transfer taxes on real estate-a tax that already exists in 37 other states. There's no question about it. If voters approve Proposition 1, property owners will save money-now and in the future. Is there still work to be done on property tax reform? Of course. The appraisal system needs fixing, and local taxing entities could reduce their costs and save you money. But lawmakers have sent a message: Texas is serious about lowering the cost of homeownership. Now it's up to you. Mark Lehman is the vice president of governmental affairs for the Texas Association of REALTORS®.

What low oil prices really mean for Texas home sales

What do you get when you mix rising demand for Texas homes with decreasing inventory? The perfect recipe for a strong seller's market. And that's just what happened in the second quarter of 2015, according to the latest Texas Quarterly Housing Report, despite concerns that lower oil prices would have a negative impact on the statewide housing market. "Texas home sales are actually stronger than they were this time last year, when oil prices were nearly $100 a barrel," said Scott Kesner, chairman of the Texas Association of REALTORS®. "This is further evidence of the strong and enduring demand for Texas real estate." The report, released today by the Texas Association of REALTORS®, also shows that demand for Texas homes in the second quarter of 2015 kept statewide inventory low at 3.8 months. The Real Estate Center considers 6.5 months inventory to be a balance between supply and demand. Download the full report to see how your market performed in the second quarter of 2015.

Texas International Fishing Tournament (TIFT)

Scheduled to be held July 29 -Aug. 2, 2015 the 76th TIFT is expected to attract as many as 1500 anglers and more than 500 boats during its two days of fishing activities. TIFT is open to anglers of all ages and levels of experience. And remember, when it comes to big catches, luck often wins over skill! We hope to see you at the 76th! Surrounded by the sparkling waters of the Laguna Madre Bay and Gulf of Mexico, Port Isabel and South Padre Island play host to Texas’ largest saltwater fishing tournament—the Texas International Fishing Tournament. The tournament starts with late registration on Wednesday and Thursday with a special Playday for junior anglers on Thursday. For more information, visit: http://tift.org/

3 homebuying myths busted

Buying a home can be complicated, so it's easy to get misinformation about the process. A Texas REALTOR® can help you avoid problems, but here's some clarification about a few false assumptions. Myth: I can use sites that list home values to figure out a fair offer price. Truth: There are a lot of sites online that offer estimates of how much a home is worth, but they're not always reliable sources. If you use them to come up with an offer, you may end up spending more than you need to. A Texas REALTOR® has access to accurate information about your market, other homes sold in the area, and property features, which can help you arrive at an appropriate offer price. Myth: Sellers have to fix issues noted in an inspection report. Truth: They don't-even if you ask them to. Repairs are a negotiable item like other terms of a contract. If a seller does not agree to make requested repairs and your contract includes a termination option, you have the right to terminate the contract prior to the option period's expiration. Myth: A seller has to accept my full-price (or above full-price) offer. Truth: A seller is not bound to accept any offer, even at full price or above. A seller may choose to accept an offer because of other favorable terms, such as an earlier closing date.

5 lessons for the second-time homebuyer

We've only been homeowners for three years, but even that short time has offered my husband and me lots of lessons that we're using as we buy our next home. These are some of the ways our perspectives have changed from being first-time homebuyers to second-timers. Paint colors really don't matter much. I made the mistake of not looking past cosmetic features that are easily changed, like outdated fixtures or unusual paint colors. This caused us to pass up several homes and potentially lengthened our home search. Ask about repair work. We didn't ask many questions about repairs and maintenance that had been completed on properties when shopping for our first home. Finding out when the roof was replaced or whether the HVAC system was still under warranty could have saved us time and money. Now we ask. Priorities may change. ​The criteria that lead you to your first home may not be what you seek in your next one. I initially wanted a large backyard, until I had to mow one. And we were fine buying a home that required us to join the homeowners association, but now we'd prefer a home in a neighborhood with fewer restrictions. Get your financing in order early. During our first home purchase, we made the mistake of starting to look for homes before getting a prequalification or preapproval letter to share with sellers. This time around, we started talking with a mortgage broker first. Always work with a Texas REALTOR®. Just as your financial situation may have changed in the past few years, it's possible that the housing market may have changed, too. A Texas REALTOR® has the experience and knowledge about the current market to help you find the home that fits your needs ... and you may learn a thing or two in the process.