Posted by Tom(GA) on May 02, 2000 at 12:48:07:
I think you might also have a legal problem with an exclusive agency listing if the agent’s efforts led you to the property, you got an option, and then assigned the option to another party.
Tom
Options - Posted by Jim LaVerdi
Posted by Jim LaVerdi on April 27, 2000 at 13:28:53:
Can I, and would it be a wise choice to take a straight option on a house that is listed with a realtor? Is this legal to do? Does the realtor feel violated if it is legal? Is there a procedure to follow to do this with a realtor involved?
Thanks,
Jim LaVerdi
Re: Options - Posted by eric
Posted by eric on April 27, 2000 at 14:59:05:
It depends on what’s in your listing contract. If it’s an exclusive right of sale listing, which is the norm, then the realtor gets their commission regardless of how the property gets sold. If it’s an exclusive agency listing, then the realtor gets the commission if they sell it, but they get nothing if you do. Obviously, you would have legal and ethical issues if you did an end-around on the agent with a buyer that the realtor originally introduced, in order to avoid paying the commission.