What occurs if a real estate transaction is not completed?

In real estate transactions, remuneration for salespersons is typically contingent upon the successful completion of the transaction. If the transaction is not finalized, the salesperson generally does not receive commission or remuneration for their services. This principle is rooted in the fact that commission is often based on a successful closing and the transfer of property ownership.

While there may be certain conditions under which a salesperson could receive some form of compensation—such as a retainer or a fee for a specific service unrelated to the transaction's completion—these situations are not the standard practice. Hence, the norm is that a salesperson will not receive remuneration if the deal does not go through. This underscores the importance of ensuring all transaction elements, including inspections, financing, and legal considerations, are in place before expecting payment.