Posted by Rich-CA on September 20, 2007 at 19:30:45:
I have a lot of friends and associates who are Realtors. Either agents or brokers. I rely heavily on their knowledge and advice and never cut someone who’s put effort out of compensation for their work. I refuse to accept discounts in commission for multi property deals because in the areas where I buy, its not a lot anyway and they do very valuable work for me.
However, like any other profession, there are people who are lazy or incompetent (or worse - both). In the case of the original post I think she said the person was not introduced by the agent and asked about the agent’s list. At least they are trying to comply with their requirement. A lot of people don’t even bother with that.
I think if this person is not on the agent’s list, then the deal is OK. Usually a listing expires because (1) the seller overpriced and there were no offers or (2) the agent failed to perform. In either case, I see nothing wrong with insisting on the list and then going ahead with a deal if the name is not on the list.
My So.Cal. home did not sell within the 6 months covered under our residential listing agreement. The agreement expired 9/5/07. A prospect that viewed the house earlier now wants to buy it. I would like to work the deal by owner. The listing agreement states that we have no obligation to the broker unless they provide us a list of the names of prospective buyers they wish to protect for 60 days after the expiration of the contract. The broker did not provide any names. Am I clear to go it alone? or are there hidden land mines ahead?
Selling direct after the listing agreement expires - Posted by Rich-CA
Posted by Rich-CA on September 19, 2007 at 16:16:56:
Send the listing agent a certified letter asking for the list of names. Give them 2 weeks to reply (state this in the letter). Also tell them that if you do not receive the list of names by that time, it will be assumed that there are no names to report under the listing agreement.
Re: Selling direct after the listing agreement exp - Posted by Helene
Posted by Helene on September 20, 2007 at 18:18:14:
Great advice Rich.
I’m on the Real Estate agent end of things these days until I can get more into the real investing. I know Realtors arenâ??t the worldâ??s most popular people, but some of us do work and really try to help people.
My response to the people who’s listing expired and wanted to circumvent the agent after the listing expiration. What goes around comes around. Your buyer’s obviously waited for the listing to expire, probably with a conversation between both parties at some point. You probably agreed to split the difference of the commission in the working out of a sales price.
Karma. I’ve notice when I do stuff like that, it comes back ten fold.
Do what’s right.
When I had listings in San Diego, I always knew what type of people my sellers were and I would keep track of showings and would provide my sellers with a list. But these types of people were really, few and far between. Most are honest.