Re: Modified Realtor Contracts - Posted by Ray (NJ)
Posted by Ray (NJ) on January 17, 2000 at 12:06:57:
Realtor contracts are not all alike at all!
My understanding is that each local Board has an attorney hwo first drew it up (based on general boilerplate, with specifics to the area) and they modify them all the time.
Don’t ever accept the Realtor’s contract. First, most of them are holdovers when Realtors were all “seller agents”, meaning they had a fiduciary responsibility to the seller. Thus, the contract was slanted to favor the seller (and the Realtor).
ALl you need to do is cross out/modify the parts you want and both you and the seller initial them. If your Realtor has a problem with that, find another one. Actually, the guy sitting right next to him in the same office would probably love to collect an easy commission.