How is this different then working with client?

[Dave Skitz]

While discussing estate planning with my folks, they told me when they pass they want me to handle selling their house. Should I sell it "by owner" or as an agent? If as an agent, how is this different then working with client...as far as commission, splits and broker goes?

[RESteve]

I can speak for Texas, and you can list a home as an "agent owner" but you are surely going to have to give full disclosure on the sales contract. We have a special provisions section for this.

Other than that, you will save the listing commission. I don't think there is any harm selling it as an agent, as long as it is priced right. (You better price it right; it's your profession!) Get it exposed on your MLS, expose it on the internet, hold open houses, gather feedback and adjust accordingly, and get that property sold.

[Dave Skitz]

So brokers don't have a problem missing out on their split of the listing commission?

BTW...High five on 1,000 posts Steve!

[Homesurfer]

While discussing estate planning with my folks, they told me when they pass they want me to handle selling their house. Should I sell it "by owner" or as an agent? If as an agent, how is this different then working with client...as far as commission, splits and broker goes?

If you sell by owner, and part of your usual argument against selling by owner is the value of the MLS, then what credibility do you have?

[BuyHawkeye]

It really is between you and your broker. Each brokerage may handle it differently and it is probably part of your employee agreement. You may still be in for your broker's fee if it is not your primary residence. Again, you need to get the agreement in writing from your broker.

Best of luck.

[RESteve]

It really is between you and your broker. Each brokerage may handle it differently and it is probably part of your employee agreement. You may still be in for your broker's fee if it is not your primary residence. Again, you need to get the agreement in writing from your broker.

Best of luck.

Agreed. In my market center, we are allowed 2 personal deals a year split free. So we will get 100% of that commission (personal being yourself or direct family).

PS. Didn't even see that! Thanks Dave.

[BuyHawkeye]

Steve, is that dictated by your MLS? I am under the impression that FMLS will only waive our personal home's fee, therefore our broker follows suit.

Back to the orginal question. This is just speculation on my part, but I can't imagine Dave Skitz's broker allowing the house to be sold FSBO by an agent. States are not THAT different in how they handle license law, are they?

If I didn't read the post correctly, then are you asking if you can sell it by representing your parents when they are deceased? I would again speculate that you will have to represent it as the estate of your parents. Regardless, RESteve is spot on with the disclosures as their is a next of kin relationship.

[Dave Skitz]

If you sell by owner, and part of your usual argument against selling by owner is the value of the MLS, then what credibility do you have?

Gotcha...Thanks!

[Dave Skitz]

Agreed. In my market center, we are allowed 2 personal deals a year split free. So we will get 100% of that commission (personal being yourself or direct family).

This is what I was wondering about if I do list it...Thanks Steve!

[Dave Skitz]

Back to the orginal question. This is just speculation on my part, but I can't imagine Dave Skitz's broker allowing the house to be sold FSBO by an agent. States are not THAT different in how they handle license law, are they?

If I didn't read the post correctly, then are you asking if you can sell it by representing your parents when they are deceased? I would again speculate that you will have to represent it as the estate of your parents. Regardless, RESteve is spot on with the disclosures as their is a next of kin relationship.

I'd rather list it and get the deal that Steve mentioned with the benefit of MLS like Terry stated. However, If I chose not to list it and disclose that I'm an agent but selling as a private citizen and representative of the estate...I should be able to sell it fsbo...yes???