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Tricky Listing question?

Started by Gutrenovator
about 13 years ago
Posts: 43
Member since: Jun 2007
Discussion about
I had an appointment through a broker (#1) who has been showing me properties to see a house I've seen advertised by another brokerage. My broker (with whom I do not have a buyer's contract or any written contract) contacted the other brokerage ("broker #2") and set up an appointment to view the property. Something came up and I couldn't make it to the viewing. I have since seen the property listed on a 'for sale by owner' site and would like to see it. What obligation, if any do I have to the broker #1? What, if any, obligation might the seller have to Broker #2 if the listing is also a FSBO? Thanks.
Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

Fake question.

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Response by falcogold1
about 13 years ago
Posts: 4159
Member since: Sep 2008

Broker #1: no obligation but why would you care? You might need a broker to help you with negotiating and administration not to mention that their fee is paid via the proceeds of the sale. Broker #2 is of no concern to you.

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Response by Tomnevers
about 13 years ago
Posts: 97
Member since: Mar 2012

no obligation to either broker. you can and should circumvent them.

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Response by Gutrenovator
about 13 years ago
Posts: 43
Member since: Jun 2007

Falcogold1:
Thanks for your response. The reason I'm asking about brokers relates to whether any commission would be due either broker given that I now want to pursue looking at the house directly through the owner. Obviously, if no commissions are involved, the seller may be willing to accept a lower offer, right?

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Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

This is so fake.

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Response by kylewest
about 13 years ago
Posts: 4455
Member since: Aug 2007

As a buyer you have no obligations. Any obligations would be between the seller and the agents and be defined by the terms of the listing agreement between the seller and his agent and any arrangements to which the agents have subscribed in general (e.g., REBNY). If you spoke to the agent about the property and then saw it on your own, you may have triggered an obligation under the terms of the agreement(s) in place and agency obligations to which they've subscribed. But you aren't a party to any of this--it is for them to hash out. Can you parlay the situation into one where you can try to get a better deal since you don't have an agent? Not so clear since you come with the legal baggage of this situation which the parties would be left to wrangle over.

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Response by falcogold1
about 13 years ago
Posts: 4159
Member since: Sep 2008

I've been posting here for some time. There are few people who could effectively buy or sell a property without the aid of a practiced professional broker who are NOT residential Enthusiasts. That's a pretty small group. I think it's fair to reconsider the fiscal relationship between the seller and the broker considering the change in the way re information can be accessed...like SE.
In a sense, the brick and mortar re sales office may be a thing of the past.
First, WallMart moves just 4 miles outside your town. Your downtown and all your local businesses close. Downtown gets shady.
Your computer put's WallMart out of biz cause your buying all your stuff on the cheap...at least you think.
Most of the folks in your town settle into long term unemployment and all the good stuff that goes with that.
The key to survival?
Work for UPS

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Response by Bernie123
about 13 years ago
Posts: 281
Member since: Apr 2009

If the listing is FSBO who the hell is "Brokerage #2?" - they obviously aren't representing the seller. Maybe they just copied the pictures and are planning to draw people in for a bait and switch? In any case you have no legal responisbility to either brokerage. Re broker #1 if you have been looking together for a LONG TIME you may feel an ethical responsibilty that he/she be compensated.

@HBurg: why do you think the post is fake? It's weird but who benefits from this post if it is fake?

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Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

>Work for UPS

Apparently you have never heard of 3D printing.

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Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

>@HBurg: why do you think the post is fake? It's weird but who benefits from this post if it is fake?

Columbiacounty for the fun of it?
Someone who wants to agitate against brokers for fun, revenge, their own non-brokerage firm RE model, etc

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Response by columbiacounty
about 13 years ago
Posts: 12708
Member since: Jan 2009

why???

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Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

There you go again columbiacounty.

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Response by columbiacounty
about 13 years ago
Posts: 12708
Member since: Jan 2009

why?????

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Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

and once again but with two more question marks.

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Response by Gutrenovator
about 13 years ago
Posts: 43
Member since: Jun 2007

Bernie123 -- I was told that Broker #2 previously had the exclusive on the listing but now is showing house as open listing. Not sure if that makes sense?

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Response by Snuffles
about 13 years ago
Posts: 173
Member since: Apr 2010

Legally probably no obligation to anybody but kind of a sleezy move if you used them to get information about the place and then now want to circumvent them.

If you didn't use them to get information about the place or anything then can't see why you need to go thru them.

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Response by Bernie123
about 13 years ago
Posts: 281
Member since: Apr 2009

@GutReno: Broker #2 is acting sleazy by advertising a listing he/she does not own (maybe did in the PAST but doubtless). The idea is to draw you in as a client and become your buyer's broker ie classic bait & switch.
In any case you surely have no legal or $$ responsibility to either - you are free to negotiate directly with the buyer and you should get a better price. Now again if you feel ethically inclined to compensate broker #1, who you have been working with for a long time, that's undertandable. In this case have broker #1 be your negotiating agent with FSBO. Most FSBO's will pay 3% though it's coming out of your pocket of course.

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Response by Bernie123
about 13 years ago
Posts: 281
Member since: Apr 2009

Meant "... negotiate directly with the SELLER... "

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Response by Gutrenovator
about 13 years ago
Posts: 43
Member since: Jun 2007

Thanks for all the thoughtful advice.

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Response by BigPapi
about 13 years ago
Posts: 95
Member since: Nov 2012

excellent discussion

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