With all the options for promoting listings on the internet, sometimes it\u2019s not obvious that a property is listed, or who it is listed with.\u00a0 That\u2019s no excuse for contacting a seller directly.<\/p>\n
REALTORS\u00ae have a responsibility to make a reasonable attempt to determine whether a property is subject to an exclusive listing agreement prior to reaching out to an owner.\u00a0 A quick check in MLS should give you an answer.\u00a0 If you or your buyer see a property listed on a website that is not a broker website, you might assume that it is a FSBO.\u00a0 That could be a mistake.\u00a0 Take a few minutes to look up the address in MLS to see if it is, in fact, exclusively listed by a real estate broker.\u00a0 If it is, all contact, inquiries, paperwork, etc. must go through the listing broker.\u00a0 Your buyer should also be cautioned not to make an inquiry via a website.\u00a0 If it is listed, that could be the beginning of a series of events that could affect determination of procuring cause and entitlement to cooperative compensation.\u00a0 If it\u2019s not listed and the seller has already been in contact with a buyer, they may not want to pay a commission to a buyer representative who enters the transaction later.<\/p>\n
Not \u201cknowing\u201d that a property is exclusively listed isn\u2019t an excuse for direct contact with a seller.\u00a0 If it could be easily determined whether an exclusive listing agreement is in affect and you make that contact, you might find yourself on the \u201crespondent\u201d side of an ethics complaint.<\/p>\n
Article 16<\/strong><\/p>\n REALTORS\u00ae shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS\u00ae have with clients.\u00a0(Amended 1\/04)<\/em><\/p>\n All dealings concerning property exclusively listed, or with buyer\/tenants who are subject to an exclusive agreement shall be carried on with the client\u2019s representative or broker, and not with the client, except with the consent of the client\u2019s representative or broker or except where such dealings are initiated by the client.<\/p>\n Before providing substantive services (such as writing a purchase offer or presenting a CMA) to prospects, REALTORS\u00ae shall ask prospects whether they are a party to any exclusive representation agreement. REALTORS\u00ae shall not knowingly provide substantive services concerning a prospective transaction to prospects who are parties to exclusive representation agreements, except with the consent of the prospects\u2019 exclusive representatives or at the direction of prospects. (Adopted 1\/93, Amended 1\/04)<\/p>\n Written by: Cindy Henninger \u2013 Director of Professional Services<\/p>\n","protected":false},"excerpt":{"rendered":" With all the options for promoting listings on the internet, sometimes it\u2019s not obvious that a property is listed, or […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1257","post","type-post","status-publish","format-standard","hentry","category-professional-standards-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/posts\/1257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/comments?post=1257"}],"version-history":[{"count":1,"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/posts\/1257\/revisions"}],"predecessor-version":[{"id":1259,"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/posts\/1257\/revisions\/1259"}],"wp:attachment":[{"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/media?parent=1257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/categories?post=1257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elephanteardesign.com\/ragc\/wp-json\/wp\/v2\/tags?post=1257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n