Published on June 3, 2011.
Question (TX): We received an offer on our property just days before the expiration of the Listing. However, the firming up of this offer dragged on weeks beyond the termination date. We refused to sign any listing extension. Also, we do not want the listing to continue to be on the MLS. We only want to have this contract either firmed up or taken off the market for a ?rest.? Then we want to change Realtors.
Can a Realtor keep a property on the Realtor?s Web-site and the MLS after the listing contract expires?
Answer: Unless a listing has been extended in writing, state law requires that a real estate agent discontinue all forms of advertising and other marketing. That includes, without limitation, websites. See section 1101.156 of the Texas Real Estate License Act pertaining to advertising that is false, misleading, or a deceptive practice. Also see section 1101.652(b) (6) as to flagrant course of misrepresentation.
If an offer comes in during the listing term, however, the real estate agent has the right and obligation to continue negotiations with the offeror until the offer is either successfully accomplished or withdrawn.
Question (TX): After our strong insistence our Realtor did remove our expired listing for a few days from their website on the day we signed off on the offer we got on our house. We also said we did not want any signs in our yard anymore and the sign was picked up. We were exhausted from this horrid experience of selling our home.
There are 3 more weeks now until closing. Last night we discovered our listing is back into all the free-sites and on the Realtor?s Web-site just as before, but with an added ?Contract Pending.? We also noted that ?Days on the market? are continuing to be counted.
Since we are selling out very cheap we requested that the sale price not be disclosed, but we do not know how to get our request on the listing that only agent?s can see.
We are paying the full listing commission requested by our Realtor. We are not trying to get out of this despite our unhappiness over this transaction. This is and has been a long nightmare for us and it seems to continue.
Does our Realtor now have the right to put our listing back in all the Web-sites as ?Pending? when we refused to sign a listing- extension back on March 31 when our 6 month agreement expired?
Answer: You are clearly upset with how this Realtor handled your transaction. We would, however, point you to the 6-month listing you signed. It most likely contains language that authorizes your Realtor to continue with negotiations of an offer that began during the listing term. The listing also most likely provided language to enter it as ?Sale Pending? if the offer was signed by both parties on the Realtor?s website as well as other websites you authorized.
However, we believe you should call the Texas Association of REALTORS? (?T.A.R.?) at 1-800-873-9155. Ask to speak with someone regarding T.A.R.?s Ombudsman Program. A member of the Professional Standards Department will explain the details of this free program which is designed to handle situations such as yours. We?re told this program has met with great success.
Question (TX): I?m the owner/broker and I have one licensee. I understand agency law and understand that I cannot ?appoint myself? as the broker is the intermediary.
This is what I can?t seem to reconcile in my mind: I have a listing with no appointments. If my licensee brings the buyer, what does my role become since I have no one to appoint to the Seller? My understanding is that I?d continue with the Seller and my sales agent would continue with the buyer and neither of us would be able to give advice or an opinion.
Given this same scenario, if I had two agents, and I had a listing would I have to appoint the 2nd agent to represent seller? Then, could advice and opinion be given to both principals?
Answer: Perhaps it will help if you look at the situation this way. When any other licensee affiliated with a different firm that represents the buyer under a Buyer/Tenant Representation Agreement, you or your other agent would represent the seller because it is your listing, right? When you represent the same seller but your agent brings the buyer to you, because you have no appointments you must deal with your agent?s buyer as a customer without any representation. Your agent must make that very clear to the buyer. So your understanding stated in your second paragraph is not correct. You continue to represent the seller and the seller?s interest including, without limitation, providing advice and opinion. Your licensee works with the buyer but as a ?customer,? not as a ?client.? If the buyer wants representation, your firm can not provide it.
However, the statement/question in your third paragraph is also not entirely accurate. If you had two agents, you will still be the listing broker. However, if a buyer states to one of your agents that the buyer wants that agent to represent him or her, then as the broker you must decide if you want to make appointments or not make appointments, provided both parties (seller and buyer) agree.
If they don?t agree, you and both of your agents act with the restrictions applicable to Intermediaries (see the last section of the Information About Brokerage Services form).
If they do agree, then you are still the Intermediary subject to the same restrictions (1. shall treat all parties honestly; 2. may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; 3. may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and 4. may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property?), but you can then make appointments.
One of your agents can represent and carry out the instructions of the Seller, and the other agent can represent and carry out the instructions of the buyer. You, as the broker, are still restricted to the 5 restrictions identified above. Some attorneys and real estate licensees believe there are serious faults with acting as an Intermediary with appointments, especially if the Broker is the one who has established the relationship with the seller on the broker?s own listing.
Question (TX): I am writing to ask if you know of any property outside of Brenham, Texas that is for sale that has an old farm house and an old barn that needs renovation but will be livable before the renovations are made.
Answer: Our column does not provide real estate brokerage services to readers of the column. You should contact the South Central (Texas) Board of Realtors (www.scbor.com), the Texas Association of Realtors (www.TexasRealEstate.com) or the Houston Association of Realtors (www.har.com) to select a Realtor from among those you interview that will best satisfy your requirements.
Source: http://www.houstonrealestateobserver.com/ask-george-and-chuck-may-2-2011/
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