Real Estate Forums

Selling Questions about the selling process ...Looking for an agent in your area to sell your home or just have a question about your market, Let one of our experienced online real estate agents help.

Reply
 
Thread Tools Display Modes
Old 03-22-2007, 06:40 AM
FredMcLaren FredMcLaren is offline
New real estate webmaster
 
Join Date: Mar 2007
Posts: 2
FredMcLaren is on a distinguished road
Question FSBO Seller question

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

Last edited by FredMcLaren : 03-22-2007 at 06:42 AM.
Reply With Quote
Old 03-22-2007, 06:47 AM
Ryan Ward's Avatar
Ryan Ward Ryan Ward is offline
Uber Real Estate Webmaster
 
Join Date: Oct 2006
Location: Alpharetta
Posts: 3,252
Ryan Ward is on a distinguished road
Default Re: FSBO Seller question

Do you have an option for an unrepresented seller?
__________________
Ryan Ward, REALTORŪ - Keller Williams Realty Consultants. (404) 630-3187
Atlanta Real Estate - My featured area is Alpharetta Real Estate and it is where I call home. Read my Atlanta Real Estate blog.
Reply With Quote
Old 03-23-2007, 01:11 PM
FredMcLaren FredMcLaren is offline
New real estate webmaster
 
Join Date: Mar 2007
Posts: 2
FredMcLaren is on a distinguished road
Default Re: FSBO Seller question

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.
Reply With Quote
Old 03-23-2007, 03:25 PM
Sam Dodd Sam Dodd is offline
banned
 
Join Date: Nov 2005
Posts: 1,196
Sam Dodd will become famous soon enough
Send a message via Yahoo to Sam Dodd
Default Re: FSBO Seller question

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.
Reply With Quote
Old 03-23-2007, 08:18 PM
Saodavi's Avatar
Saodavi Saodavi is offline
Uber Real Estate Webmaster
 
Join Date: Feb 2007
Location: Denton, Texas
Posts: 646
Saodavi is on a distinguished road
Default Re: FSBO Seller question

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.
__________________
Denton Real Estate is the premiere website for home buyers in the North Texas area. If you're looking for Denton, Tx Real Estate, find your way home at DentonRealEstate.com.
Reply With Quote
Old 03-23-2007, 08:55 PM
Sam Dodd Sam Dodd is offline
banned
 
Join Date: Nov 2005
Posts: 1,196
Sam Dodd will become famous soon enough
Send a message via Yahoo to Sam Dodd
Default Re: FSBO Seller question

I know the anwser. We use this for sale by owner listing agreement but its bad news.
Reply With Quote
Old 04-10-2007, 05:03 PM
legalhomeforms legalhomeforms is offline
Advancing Webmaster
 
Join Date: Apr 2006
Posts: 77
legalhomeforms is on a distinguished road
Default Re: FSBO Seller question

What about a non-exclusive open listing agreement?
Reply With Quote
Old 04-10-2007, 06:19 PM
JChristin JChristin is offline
New real estate webmaster
 
Join Date: Mar 2007
Location: Pacific Northwest
Posts: 12
JChristin is on a distinguished road
Default Re: FSBO Seller question

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.
__________________
[B]J. Christin Gray
Land Use Planning and Real Estate Developments
JC Gray & Associates
Portland, OR
Reply With Quote
Old 04-10-2007, 11:12 PM
Saodavi's Avatar
Saodavi Saodavi is offline
Uber Real Estate Webmaster
 
Join Date: Feb 2007
Location: Denton, Texas
Posts: 646
Saodavi is on a distinguished road
Default Re: FSBO Seller question

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.
__________________
Denton Real Estate is the premiere website for home buyers in the North Texas area. If you're looking for Denton, Tx Real Estate, find your way home at DentonRealEstate.com.
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off

REW Conference

For our members

Main Sections

IDX Coverage Areas

Spiders Welcome

All times are GMT -7. The time now is 05:20 AM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.