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Question posed by seller

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A seller asked about the net price they receive from the property. I think they were asking their friend about what I was offering them, and were probably told by the friend (who is a realtor), what they thought about my offer. The friend probably was telling that a "net listing" is illegal, where the seller gets a net price, and the broker then can sell the property at any price above the net price for a profit. I told her that this is a law intended for brokers to prevent them from taking advantage of sellers, but is there any way I can be accused of doing something similar, acting like a broker who sells at any price above the seller's net price??? My hunch is that it's not relevant to us, but I want to make sure.

 

Thanks,

Paul

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A seller asked about the net price they receive from the property. I think they were asking their friend about what I was offering them, and were probably told by the friend (who is a realtor), what they thought about my offer. The friend probably was telling that a "net listing" is illegal, where the seller gets a net price, and the broker then can sell the property at any price above the net price for a profit. I told her that this is a law intended for brokers to prevent them from taking advantage of sellers, but is there any way I can be accused of doing something similar, acting like a broker who sells at any price above the seller's net price??? My hunch is that it's not relevant to us, but I want to make sure.

 

Thanks,

Paul

 

 

Hmm, I don't think that is illegal here in Ohio... I worked with a Realtor that ran a family owned brokerage for 40 years and that was part of his strategy . He called it a Price Guarantee to his clients.....The clients would be happy because they would get what they wanted and plus he would make a profit plus commission.....

 

I love how Real Estate is looked at by everyone including law makers... It's like no other...... If someone wanted to sell me a car for $100 that was worth $5000 and the seller was happy.. So What!...Car salesman do it all the time!!! Sorry for the rant...censored.gif

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Ah, yes. That famous but anonymous "Realtor friend" who is looking out for all the poor, hapless homeowners out there. Even if that Realtor was well intentioned, and that's arguable, he is wrong. That "net listing" stuff has nothing to do with what we do, so pay it no mind.

On the bright side, that Realtor probably did you a favor because that homeowner is the type who needs four opinions before making a move. His next call would have been to an attorney. . .then the BBB. . .then the FBI. . .then NOW. . .then the Rainbow Coalition. . .and on and on and on. :huh:

Find yourself a homeowner with fewer "friends". :angry:

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Ah, yes. That famous but anonymous "Realtor friend" who is looking out for all the poor, hapless homeowners out there. Even if that Realtor was well intentioned, and that's arguable, he is wrong. That "net listing" stuff has nothing to do with what we do, so pay it no mind.

On the bright side, that Realtor probably did you a favor because that homeowner is the type who needs four opinions before making a move. His next call would have been to an attorney. . .then the BBB. . .then the FBI. . .then NOW. . .then the Rainbow Coalition. . .and on and on and on. :rolleyes:

Find yourself a homeowner with fewer "friends". ;)

 

Net listings are not what we do:

 

http://www.ourbroker.com/?p=1446 This is a good explanation

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Thanks for the info guys. Very good stuff. Much appreciated, as always.

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