Does a Seller have to accept a full price offer?

Question:  Does a Seller upon a receipt of a full price offer have to sell?

Answer:  If the Seller has not entered into a written binding agreement with a Buyer, but has the property listed with a Brokerage, and then changes their mind not to sell, the Buyer’s agent/Brokerage may be entitled to a full commission if the offer was full price. See section 2. of the Exclusive Right to Sell Listing Agreement:  BROKERAGE FEE. If, during the Listing Period, the Company, the Seller’s Agent, the Seller, another real estate agent, or anyone else locates a party who is ready, willing and able to buy, lease or exchange (collectively “acquire”) the Property, or any part thereof, at the listing price and terms stated on the Data Form, or any other price and terms to which the Seller may agree in writing, the Seller agrees to pay to the Company a brokerage fee in the amount of $ ___________ or _______% of such acquisition price (the “Brokerage Fee”). The Brokerage Fee, unless otherwise agreed in writing by the Seller and the Company, shall be due and payable from the Seller’s proceeds on: (a) If a purchase, the date of recording of the Closing documents for the acquisition of the Property; (b) If a lease, the effective date of the lease; and (c) if an option, the date the option agreement is signed. If within the Listing Period, or any extension of the Listing Period, the Property is withdrawn from sale, transferred, conveyed, leased, rented, or made unmarketable by a voluntary act of Seller, without the written consent of the Company; or if the sale is prevented by default of the Seller, the Brokerage Fee shall be immediately due and payable to the Company. The Company is authorized to share the Brokerage Fee, as advertised on the Multiple Listing Service (“MLS”), with another brokerage participating in any transaction arising out of this Listing Agreement. The Company shall offer a buyer agent commission (“BAC”) on the MLS of $_______ or ________% of the acquisition price. This amount may be modified only with the consent of the Seller. BROKERAGE FEES ARE NOT SET BY ANY BOARD OR ASSOCIATION OF REALTORS®, OR MLS, OR IN ANY MANNER OTHER THAN BETWEEN THE COMPANY AND SELLER.

If a Seller defaults on a purchase contract AFTER all parties have signed and executed an agreement the following section of the REPC would apply:  16.2 Seller Default. If Seller defaults, Buyer may elect one of the following remedies: (a) cancel the REPC, and in addition to the return of the Earnest Money Deposit, or Deposits, if applicable, Buyer may elect to accept from Seller, as liquidated damages, a sum equal to the Earnest Money Deposit, or Deposits, if applicable; or (b) maintain the Earnest Money Deposit, or Deposits, if applicable, in trust and sue Seller to specifically enforce the REPC; or (c) accept a return of the Earnest Money Deposit, or Deposits, if applicable, and pursue any other remedies available at law. If Buyer elects to accept liquidated damages, Seller agrees to pay the liquidated damages to Buyer upon demand.