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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bobby is sleepless in seattle who wrote (77954)5/21/2007 7:08:09 PM
From: TradeliteRead Replies (1) of 306849
 
<<(and yes, an agent does have a responsbility to show a fsbo if the agent feels it meets their client's needs even if there is not a commission>>

That sounds strange to me.

In order to show and sell a house, the agent must be authorized in writing by the seller to do so, under Virginia law. This means a written listing agreement must be on file in some broker's office somewhere, and I don't know any brokers who would take a listing that doesn't specify payment of a commission.

By definition in these here parts of the country, when a listing is entered in the MLS, the listing broker is extending an offer of cooperation and compensation to other brokers in the event of a sale. If a sale is made and the listing broker doesn't pay the selling broker as specified in the listing agreement, the selling broker can take legal action against the listing broker for the commission.
If a property is in the MLS, I'd show it no matter what. But, again, it wouldn't be in our local MLS if it doesn't specify payment of a commission.

Maybe I'm confused about the situation you described or your state rules are far different from ours, but no way do I feel obligated to intrude on a FSBO who doesn't want to pay me. That's presumably why he is a FSBO.

On the other hand, if
he's in the MLS and is willing to pay a selling broker who brings him a buyer, then I don't consider him a "true FSBO". My purchaser would be on his own in looking at any true FSBO house, and as far as I'm concerned, he is free to deal with that kind of seller all by himself.

An exception to that might occur if the buyer agreed to pay my brokerage commission in order to obtain my services in dealing with the FSBO. But then.....most true FSBOs don't want anything to do with agents of any kind no matter who is paying them, because they assume they will be keeping the commission money for themselves, so what would be the point? I'd move on.
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