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.
Fake question.
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.
no obligation to either broker. you can and should circumvent them.
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?
This is so fake.
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.
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
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?
>Work for UPS
Apparently you have never heard of 3D printing.
>@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
why???
There you go again columbiacounty.
why?????
and once again but with two more question marks.
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?
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.
@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.
Meant "... negotiate directly with the SELLER... "
Thanks for all the thoughtful advice.
excellent discussion