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Pete, Both Buyer and Seller in Aurora, IL

I had recently been asked to agree to a short term listing as the realtor said "the buyer would not pay the

Asked by Pete, Aurora, IL Tue Aug 5, 2008

commision". I have had ( FSBO) the property up for awhile and so I agreed.
He has since gone on a weeks vacattion and just come back, I asked him if he had a legitimate buyer and would
the buyer be putting in an offer.
He now states that he is wanting to offer it to 3 people that are looking for property of my type. That he wanted to get a bigger package together to offer them ( there is other property adjacent to mine.
Do you think the realtor was misleading when he came out of the blue and said this to get the short term listing?

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Honesty is the best policy. I would not trust this person. Don't get your hopes up for his offer. Tell him you want to take your home off the market and see what happens. Contact me with any more questions.

Rich Knapp
Web Reference:
2 votes Thank Flag Link Tue Aug 5, 2008
Your instincts are most likely correct, sounds like he just wanted the listing. If he had a buyer then they would have come forward already. If you need a TOP realtor in AURORA , let me know. My Realtor has been a Broker/Owner for 33 years in AURORA and he certainly is a streight shooter.

Tino Martinez
First Capital Mortgage
2 votes Thank Flag Link Tue Aug 5, 2008
Without anything in writing and signed by you, you are not committed to anything. If you sign a Customer disclosure form and agree to pay him if he sells it, it may be worth seeing if he can get the job done at a price that satisfies you. He sounds like he is trying to be creative and help his buyers and you. Just remember and discern who is working for whom. Maybe showing your papers to attorney before you sign anything would be a good idea.
Web Reference:
1 vote Thank Flag Link Wed Aug 13, 2008
Hi Pete, When I have a potential buyer for a FSBO, I offer to use a contract that states I will only get a commission if my buyer purchases the property. That way the seller can still market the property himself. I guess this won't help you now, but it's a good suggestion for the future if you still want to sell your house yourself. Good Luck. Pam
1 vote Thank Flag Link Tue Aug 5, 2008
I know what you're thinking. Is it possible? Maybe. Sometimes a Realtor will tell you this just to get their foot in the door and the next thing you know you've signed a listing agreement.

My suggestion is simple. Fill out a listing agreement and stipulate your commission agreement, amount of the listing time period "and" make it specific to the buyers he claims he has. What I mean is, list the buyer's names on the listing contract. If he/she refuses, tell him/her that it will also protect them incase the buyer comes directly to you, the seller.
1 vote Thank Flag Link Tue Aug 5, 2008
As Pam and Brandon suggest, make the agreement specific to specifically named buyers. So, if he really does have one or more serious buyers, and one purchases, your agent wins, you win, and the buyer wins. If there aren't any real buyers, or they decide not to purchase, you're still protected and free to continue marketing your property as a FSBO.

Good luck.
0 votes Thank Flag Link Wed Aug 13, 2008
Don Tepper, Real Estate Pro in Burke, VA
I hope that there is no misunderstanding, I did not list it with the Realtor, He never got the listing agreement signed because he was on his way to vacation.
0 votes Thank Flag Link Tue Aug 5, 2008
Hi pete,
Tell this Realtor the listing expires in two days. This will smoke out the truth.
All the best,
James Joseph
0 votes Thank Flag Link Tue Aug 5, 2008
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