Wow, in 42 years as a broker I have never heard that term but it sounds like it applies, but who cares.
The owner has the right to list it, though if the offer is fair he may be wiser to just pay a fee for some professional assistance. Otherwise he is giving away money he doesn’t have to. Or he could exempt that buyer in the listing agreement and go ahead and list his property.
I assume the agent with the buyer has a buyers broker agreement or is a firm believer the gods will see that he gets paid (he wouldn’t with many sellers). Listing won’t affect his status but there will be less money in the pot for the seller if he is increasing commission payouts, thus seller may reject an offer he would have accepted without the listing agent.
If it were one of my agents doing the listing I would say go ahead and list, just exempt the current buyer and his agent, but charge the seller a reasonable fee for any assistance in the transaction, which could be rebated if seller bought his new property through us within 90 days of closing on old property.
My question is, if a home is listed BY OWNER and an agent shows the home without getting the permission to show form signed by the owner, then brings an offer to them, is it considered parachuting on the listing agents part,if the owner decides to list the home with an agent that is not involved in the transaction before the contract is accepted?
Posted by Rich-CA on October 28, 2007 at 22:17:03:
The buyer’s agent is helping the seller by bringing in POTENTIAL buyers that might not otherwise see the property. When I buy properties I only work with a buyer’s agent (after an extensive interview process) because of their knowledge of the area that I, not living there, do not have. As a rule I do not like to deal with FSBO sales because its not with the trouble dealing with someone who is not on an MLS lockbox)
Until you countersign an offer, it is meaningless, but if you see one you like, go ahead and sign. If you did not offer commission, then the buyer will have to pay their agent (its in most buyer’s agency contracts I have seen).
the agent is free to negotiate any deal he likes with his buyer client. that does not obligate the seller in any manner. he seller is not harmed when an agent shows up with a buyer. I don’t see the problem.