Re: Is it legal? - Posted by MilNC
Posted by MilNC on December 05, 1998 at 14:21:35:
Thanks for your reply. I’ve seen people here refer to finder’s fee.
Another question then, “What is birddogging”?
People here have referred to that, and some payment
involved. What is that about?
Re: My States REALTOR Contract - Posted by Tom
Posted by Tom on December 08, 1998 at 24:40:58:
Frankly, I would just put up as little earnest money as possible. If my buyer fails… then the seller is entitled to keep my ten bucks… I’ll get over it!
Re: My States REALTOR Contract - Posted by Rob FL
Posted by Rob FL on December 06, 1998 at 12:01:31:
This is how it reads in our standard Realtor contract to relieve liability to the original buyer:
“Buyer may asign and thereby be released from any further liability under this contract.”
Re: Is it legal? - Posted by Tom Mergard
Posted by Tom Mergard on December 08, 1998 at 24:56:30:
I just thought I’d jump in here on the “finders fee” and “bird dogging” issue. If I am an active real estate buyer, and I say to you that I’ll slip you $500 if you give me a lead on a house that turns into a sale, it does not mean that I’m buying the house from you. You are not an “agent” in any way. You come to me and say that 123 Main street looks vacant, and I do all the things I do to find the seller and close the deal, all you’ve done was sell information to me. You did not represent the seller or the house in any way, shape or form. Also you had no fiduciary responsibility to any one in the transaction, not to me and not to the seller. In order to be operating as an illegal agent, you would have to facilitate the sale in some way. You could even turn me on to a house with a Realtor’s flag waving in the yard and still pick up a finder’s fee on it. You give me the address and Realtor’s name, and you’re out of it. Just wait for your check… Kinda long winded, sorry… but that’s basically it.