Posted by Nate(DC) on September 30, 2003 at 13:51:37:
This is not a state-by-state regulatory issue, it’s a question of the contract that is signed (known as a listing agreement) between the owner and the broker.
NT
Ohio RE Brokers - Posted by Lisa
Posted by Lisa on September 30, 2003 at 11:23:37:
It is too bad that Ohio Realtors are allowed to lock up pre-foreclosure property for a year as seen in another thread.
Florida also?
Is it only Ohio that doesn’t allow seller to reserve the right to find a tenant or their own buyer? I guess I just got comfortable the way things are here and got an education in the way other states do it. Here you are only obligated to go through the agent if the offer comes about through their efforts. An add, a sign, showing the home or calling clients… Not if the seller calls an 800# or decides to rent the house out of desperation because the agent isn’t showing the home.
Curious, how many other states are like Ohio?
Lisa Izi
Re: Ohio RE Brokers - Posted by Brent_IL
Posted by Brent_IL on September 30, 2003 at 22:26:05:
All states will allow a seller to reserve the right to find a tenant or their own buyer. It’s based in old common law. The relevant part is that the seller has to reserve any rights. There are very few rights of an individual that can not be signed away by that person. An exclusive listing agreement doesn?t limit the seller?s right to find a buyer; it just states that you have to pay the agency commission regardless.
Re: Lisa, it’s too bad - Posted by Ed Copp
Posted by Ed Copp on September 30, 2003 at 16:49:43:
That you did not bother to read the posts before you formed the negative opinion that you have. It is really too bad, now you will have to live with what you have, rather than the facts … Too bad.