What is the term for the provision in a listing agreement that may require a seller to pay a commission after the agreement expires?

The term associated with the provision in a listing agreement that may require a seller to pay a commission even after the agreement has expired is known as an override clause. This clause is important because it ensures that if a buyer who was introduced to the property by the listing agent during the agreement period ultimately purchases the property after the listing has expired, the seller is still obligated to pay the commission to the agent.

This protects the agent's interests by ensuring they receive compensation for their efforts in marketing the property and for any contacts they made during their active listing period. The override clause typically specifies the duration during which the agent retains the right to earn a commission even after the termination of the listing agreement, which reinforces the relationship and accountability between the seller and the agent.