OfflineHey everyone,
I have a question. I found a house yesterday on the MLS that just expired on Cinco de Mayo. I checked at the assessor's office and found that it is vacant and the owner lives in PA. I got his number off whitepages.com and am going to call him. I was wondering, though, what if he relists the property before I get in touch with him? I know an owner has the right to cancel or withdraw a listing agreement with a real estate agent, but is it unethical if an investor is trying to do a deal with the seller and simply is trying to cut the agent out? Thoughts would be appreciated, thanks!
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
There would be no problem in dealing with a seller directly on their property. If it is listed for sale with a realtor the agent would have a listing agreement with the seller. There are different types of listing agreements. The most common type is the "exclusive right to sell" listing agreement. This agreement states that if the home is sold or transferred to another party during the listing period the seller would owe the listing agency a commission. This would make no difference if the home was sold to their grandmother the seller would owe a commission! If the seller has this type of agreement they would be able to work with you directly but would still owe a commission if the property was sold.
Prior to the property being listed - you could ask the homeowner if he does list the home for sale you could have him exclude you from the listing agreement. That would mean that if you purchased the home there would be no commission paid.
I hope that this helps!
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if the property is listed. If you try and bypass the agent and they/we find out, generally we will attempt to dead the deal, regardless of commission. Its the principle of the matter
If the property isn't listed and its an hour before the owner is going to relist with agent, then they have no claim to any type of compensation
If the property listing expired on Cinco De Mayo. You need to contact the owner and see if they re-listed. If not then you can deal directly with the owner and the listing agent receives no compensation. If the owner has not re-listed, the agent does not receive a cut.
To get something you've NEVER HAD
DO something you've NEVER DONE.
That's what I thought. Thanks, everyone! I called the work number for the guy, which I found on whitepages.com, and the number was disconnected. :/ That doesn't sound like a good sign.
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
you can try to google his name and address and it may come up there. It may give you a list of people with his name, age, phone and email. You'd be surprise the detailed info it gives online. It's kind of scary to know your info is just OUT THERE.
Much success to you,
Tammy
Together WE can make a difference!
Tammy
Thanks, Tammy!
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53