FSBO Seller question

[FredMcLaren]

For a FSBO Seller dealing with a buyer agent (BA), I've been told to sign a temporary 24hr listing agreement with the BA for him/her to bring the buyer for a showing.

The question is, does the BA go under as the "listing broker" or does he/she go under as the "co-op broker" on this temporary 24hr listing agreement?

Thanks!
FredMcLaren

[Ryan Ward]

Do you have an option for an unrepresented seller?

[FredMcLaren]

Did some more digging using the "unrepresented seller" keyword.

"Unrepresented Seller Compensation Agreement" = "Commission Agreement for Property Not Listed" (Cdn version). No need to specify whether the BA is listing or co-op on this non-exclusive agreement.

Thanks alpharettaagent. I've never heard of this term "unrepresented seller" before until now, but it got me the answer.

[Sam Dodd]

In Utah, FSBO's get into a wierd situtation when they sign a For Sale By Owner Listing Agreement. We techinquly represent the seller as he is paying us but we are bringin the buyer. Anyways I just went to some cont. ed on this and basically I just dont take my buyers to FSBO's even if they offer 3% as all it does is encourge them not to list.

[Saodavi]

Can't you just write in the appropriate section of your contract that: "Seller will pay [your brokerage here] a commission of 3% of the sales price for procuring the Buyer for this property." ??

It seems anything that would be any type of Listing Agreement with the Seller would put you in a legal conflict of interest with your buyer whom you contractually represent as their buyer's agent. This probably varies from state to state.

Your broker or local board should know the answer to this though.

[Sam Dodd]

I know the anwser. We use this for sale by owner listing agreement but its bad news.

[legalhomeforms]

What about a non-exclusive open listing agreement?

[JChristin]

An One-Party Listing should do the trick.

When I sold homes, I never showed any FSBO's. Why? Let the FSBO's figure it out for themselves.

[Saodavi]

Okay, I finally have a use for this.

In Texas, we have an "Agreement between Broker and Owner" which is basically a short listing-style document that you can use when bringing a client to a builder, fsbo, developer or other non-broker property owner. It also allows you to "register" your clients in subdivisions. It looks pretty flexible and useful.

This seems like it'd be a state-specific document though. Good luck.