Posted by DJ-nyc on January 18, 2007 at 22:03:46:
The guy across the street is free to talk to the owner after the 3 month contract is up.
terror dome meant NYC is tough town. “If you can make there you can make it anywhere”.
Very competititve market.
Good luck,
DJ-nyc
Realtor Obligation in NYC - Posted by MC
Posted by MC on January 18, 2007 at 14:42:49:
Currently there is a 3 month contract about to expire in one month when the realtor puts a sign on the property for sale (owner resistant at first but then agreed to sign). One of the neighbors who had expressed a mild interest to the owner a year before saw the sign and approached the owner and siad they wanted the property but did not want to work with or pay a rwaltor. The owner felt uncomfortable and suggested that the neighbor call the realtor. The neighbor and realtor could not come to an agreement and an offer was not made. When the listing expires in one month, can the owner approach the neighbor about a purchase and be under no obligation to the realtor?
Realtor thinks that since the sign started the conversation that they would be entitled to commission even after the contract expired?
Seller obligation in NYC - Posted by John Merchant
Posted by John Merchant on January 23, 2007 at 16:25:13:
Nope, if prospective buyer learned of the For Sale because he saw the FS sign, the S is going to owe… no matter when that buyer buys.
Contract law controls (even in NYC) and says that any purchase begun or initiated while the property is listed, although closed months later IS going to include the Listing Broker and he has right to be paid.
The court would quickly find in favor of the Broker and Agent as when they (and buyer when cross-examined) clearly state that when the B first made contact with the Broker the house was listed it will be quickly obvious that the B has right to be paid.
Re: Realtor Obligation in NYC - Posted by Natalie-VA
Posted by Natalie-VA on January 19, 2007 at 17:55:28:
MC,
I’m not familiar with the listing agreements up there, but here, where I am, the sign has no relevance. The listing agreement should specify how much time has to pass after the listing agreement expires. It might not even matter since the neighbors never talked to the agent. Either way, the listing agreement should have your answer.
–Natalie
Re: Realtor Obligation in NYC - Posted by DJ-nyc
Posted by DJ-nyc on January 18, 2007 at 17:03:33:
The neighbor’s wife did not talk to the realtor, the neighbor’s uncle louie did not talk to the realtor, the neighbors son etc., etc,
After 3 months the property is fair game. New York is the terror dome… The realtor had his chance…
DJ-nyc
Re: Realtor Obligation in NYC - Posted by MC
Posted by MC on January 18, 2007 at 17:27:23:
>>After 3 months the property is fair game. New York >>is the terror dome… The realtor had his chance…
3 Months of contract or 3 months after it expires?
Terror dome, how so?