Todd Davis

My advice....Have the "Mr. Seller, you're too overpriced for me" conversation.

If you really would have walked away from it with a stranger...relatives are worse. Straight up...RUN!!

Refer it to a trusted agent (in your office or in another company) just in case they get lucky, you'll get a couple of bucks for the referral.

Over priced listings drain your soul. With relatives...Gads! Save the headache, the heartache, and your advertising dollars that they'll "make you spend".

Don't kid yourself, you'll spend the money (uselessly) because they're your relatives....and no matter how much they think the home is worth, all the advertising in the world won't sell an overpriced listing - buyers know better.

So, in six months or a year, they'll fire you as their agent, and they'll be mad at you, and will finally believe another agent and reduce the price, that will sell their home. They'll tell the new agent: "Gosh I wish our relative/past agent, would have told us that a year ago."

Maybe if you give the listing away now, in a year or so, you still may get it back when they realize the error of their ways.

Been there...Done THAT!
Todd
Alliance Team Realty
Tulsa, OK

Grow your business with Gold Star Referral Clubs! http://www.goldstarclubs.com
"Business made easy!" - Yesterday, 14:10

Great answers - one and all!

I have a more "hands on" approach:

Join an industry exclusive Referral Club. There are lots of them out there, like BNI, LeTips, AmSpirit, etc....If you can find a realtor chair available.

The alternative would be Gold Star Clubs. (http://www.goldstarclubs.com) They have a compensation plan for starting clubs! What could be better? You get paid for starting the club and also getting referrals from the club?

Check it out. I was with another referral group for several years and did very well! However, I found Gold Star Clubs to be much more "user friendly" and I've gotten more referrals! Business peoople come together weekly to exchange referrals, and increase their business.

It works! Its inexpensive! The cost for a regular membership is $50 one time application fee and then only $39/month. No long term contracts.

I have been a full time realtor for 23 years, and have one website that cost $100/month just to maintain without SEO or pay-per-click.

If you have questions, or know someone that might be interested, please email me at todd@davisteam.com.

I'm doing more business with Gold Star Clubs than any other marketing including the internet. - Yesterday, 13:32

Agree with Joshua. If they had no buyer contract with the first broker...no harm, no foul.

However, if the buyers "looked" at the house -even if just supplied the codes (which may be a violation of the local Board of Realtor rules, and possibly Code of Ethics violations as well) with the other broker...He may have and probably does have a claim.

If the codes the buyer was given, have a way a "being tracked"...the other agent may have proof he was the procuring cause for them to identify the home. But it also depends on his follow up. And time from the buyers seeing the home, and making the offer. If the broker didn't follow up, or dropped the ball...you may be OK.

Mediation may be in your future. Probably best to get your broker informed ASAP.

Todd
http://www.goldstarclubs.com - Sun Oct 12 2008, 19:22

Carlos:

Since it seems you're looking to grow your business...Consider a cost effective way grow your business through business referral groups, that exchange qualified referrals and share business. Take a look at Gold Star Referral Clubs: http://www.goldstarclubs.com

I've been a part of business referral networking for years, and have never seen anything that works so well, and is so simple! Hard work? Yes. Huge benefits...Absolutely!

Start a club...get referrals for your real estate business. Start a club...get paid for the club, too! Got a friend that want to start a club andwhere in the USA...you guessed it...paid again!

I'm a full time Realtor in Tulsa, Oklahoma. In just over a year, Gold Star Clubs had fgrown to over 20 Clubs in Tulsa, more in Oklahoma City. We just launched in California, and I'm flying to Columbus, Ohio on Tuesday to support the Director there with his first club! We're in 5 states, and would love to add Florida!

Drop me an email at todd@goldstarclubs.com and I'll give you a call with the address to review the generous compensation plan. You'll Love It!

Todd
No territories, no restrictions, and it's not a franchise! - Sun Oct 12 2008, 19:02

Read "Giants", and "Unlimited Power"....seen him twice, attended a walk on fire seminar twice...Great Stuff!

However...to really help you focus on your business...Consider a cost effective way grow your business through business referral groups, that exchange qualified referrals and share business. Take a look at Gold Star Referral Clubs: http://www.goldstarclubs.com

I've been a part of business referral networking for years, and have never seen anything that works so well, and is so simple! Hard work? Yes. Huge benefits...Absolutely!

Start a club...get referrals for your real estate business. Start a club...get paid for the club, too! Got a friend that want to start a club andwhere in the USA...you guessed it...paid again!

I'm a full time Realtor in Tulsa, Oklahoma. In just over a year, Gold Star Clubs had fgrown to over 20 Clubs in Tulsa, more in Oklahoma City. We just launched in California, and I'm flying to Columbus, Ohio on Tuesday to support the Director there with his first club! We're in 5 states, and would love to add New York!

Drop me an email at todd@goldstarclubs.com and I'll give you a call with the address to review the generous compensation plan. You'll Love It!

Todd
No territories, no restrictions, and it's not a franchise! - Sun Oct 12 2008, 18:57