Posted by Jason on January 24, 2002 at 24:41:15:
The state DRE (department of real estate) usually has specific rules for people in these situations. The easiest way could be that the seller writes a letter, mails via certified mail to the listing agent letting her know that effective immediately, she doesn’t want her as an agent. Period. (keep a copy).
Have Deal…What to do with the Realtor?? - Posted by Robby_ATL
Posted by Robby_ATL on January 23, 2002 at 22:27:15:
A homeowner called me today and I went and looked at the house. Great little house…No Repairs necessary just a little paint inside. ARV $110K. She owes $70K Pretty sure she would jump at $7500 + sub2 existing mortgage.
Problem… She signrd a listing agreement with a Realtor 3 days ago, sounds like she was pushed a little, but she made the decision to sign…anyway…she says she wishes she had called me first, before signing, blah, blah, blah.
Question:
What is the most positive way to approach a Realtor and ask her to toss out the aggreement and let me and little homeowner do business??
Thanks
Robert
Re: Have Deal…What to do with the Realtor?? - Posted by GL
Posted by GL on January 24, 2002 at 09:22:32:
If she signed a listing agreement and sells the house within the listing period she owes a commission, period.
Under the circumstances, if the agent has not spent money on advertising or put any time into the deal she may let the client off the hook, but that would be doing her a big favor and she doesn’t have to.
Failing that, she has to pay a commission even if you go buy the place and never talk to the realtor at all.
The agent already has a certain amount of time and money involved in driving to the house, taking measurements and writing down information, putting the information into a listing and possibly on the MLS system. She has every prospect of selling the place and earning a commission. It’s not fair to suddenly tell her you changed your mind because you found another buyer.
Re: Have Deal…What to do with the Realtor?? - Posted by Tim Fierro (Tacoma, WA)
Posted by Tim Fierro (Tacoma, WA) on January 23, 2002 at 22:34:03:
Have her call the agent and tell him/her that she has decided to change her mind and wants out. See if she can get the agent to release her ‘completely’ with no commissions due. If she was ‘pushed’ into it, maybe she can get the agent to let her out.
If not, the seller will have to pay the commission if her agreement takes this into account; most will have this provision that she would still have to pay regardless of who finds the buyer.
YOU, as the investor, could make an offer that would include a note to the agent to get paid over time.
Re: Have Deal…What to do with the Realtor?? - Posted by Peter Rzepka Vegas
Posted by Peter Rzepka Vegas on January 23, 2002 at 23:33:18:
I would check with the realtor board in your state,but here in Nevada ,I have told the people to rescind the listing. As long as the seller found me through my advertising and I didn’t find them through the MLS or the realtors advertisement,then the listing could be rescinded without consequenses. Futhermore, if you buy it sub2 and put the property in a trust of the family name, how could the realtor bother the seller to say that the property was sold. The assingnment of beneficial interest is not a recorded document.