I beg your pardon?
Approaching/talking to someone's client
about listing/buying
Going Behind The Sign
Clients always sign what first ?
Duties Owed
Escalation clauses are illegal in Nevada
False
How many active licensees are in Nevada
Over 18,000
Can you enforce an oral agreement?
No, but they are legal
You are a tenant. Can the owner enter your home & take a shower?
Hard No
Your BB say's 2.5% ~ Listing offers 2% ~ 1st action :___ 2nd action : ___
1.Call your buyer & discuss 2. Call the list agent PRIOR to showing & discuss what your buyer said
How many years in the business does it take to be a Broker in Nevada ?
5
Removing the financing contingency means :
Cash to close or loan is "final" approved
FSBO tells you the washer Conveys. Walkthrough there's no washer. It's not in the contract.
Everything agreed to needs to be in the 4 corners of the contract or they don't exist.
Showing a home without permission/appointment
MLS Violation, automatic $250 fine, RED Complaint
Mary got her buyers approved for a loan, showed them homes for 6 months and wrote countless offers. The buyers went to an open house without Mary & the agent holding the open house wrote an offer for them that got ratified. Mary expects to be paid. Why?
Procuring Cause
Most MLS Fines are how much ?
$250
Section 6.0 MLS Rules, Refusal to Sell: If the Seller(s) of any listed property filed with the Multiple Listing Service refuses to accept a written offer satisfying the terms and conditions stated in the listing, such fact shall be :
Transmitted immediately to the Service and to all Participants.
A Broker is on Facebook defaming another agent. His fans say he's allowed to express his opinion. What say you ?
HARD No Realtor COE Article 15
You represent the seller. The buyer misses the date to deposit the earnest money. Are your sellers still in contract ?
Yes. The buyers however, have breached the contract & your sellers can call it & shut it down if they so choose.
As a listing agent, do I HAVE TO disclose other offers & or who wrote them ?
Standard of Practice 1-15 REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall also disclose, if asked, whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.
Can you Exclude a Participant or Subscriber (to the MLS) a commission even when a commission is advertised in the MLS ?
YES, : Section 7.4 Seller(s) Exclusions: If a Seller(s) wishes to exclude a specific Participant or Subscriber from compensation he may do so in writing to his listing agent. The listing agent shall notify in writing said excluded Participant or Subscriber and MLS immediately upon receipt of the letter. Such information will remain confidential and shall not be disseminated outside the parties directly involved.
"Clear Cooperation" policy : Your seller signs the listing for an "Office Exclusive" term. Over the weekend you hold an open house & you are reported for a Violation. Why ?
Section 4.1 Clear Cooperation: Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
Mary (REALTOR) asked the listing agent when the date is that her listing will expire. The listing agent refused to tell her. Mary contacts the seller to discuss listing with her. Is Mary in Trouble ?
No, the list agent opened the door to Mary by refusing to tell her the expiration date. COE Article 15 SOP 16-4
A contractual agreement under which the listing broker becomes the agent of the seller(s) and the seller(s) agrees to pay a commission to the listing broker if the property is sold through the efforts of any real estate broker. If the property is sold solely through the efforts of the seller(s), the seller(s) is not obligated to pay a commission to the listing broker.
Exclusive Agency Listing
Should you get a buyer pre-approved with "your lender" (who is your sister) prior to disclosing that the lender is a family member. Why or Why Not ?
Always disclose first, in writing. (Duties Owed prior) Any affiliations should be disclosed prior to engagement with an affiliate. Offer 3 choices if possible as well ~
A listing agreement under which the real estate commission is the difference between the actual selling price of the property and a minimum selling price as set by the seller.
Net Listing ( Illegal in most states)
Your seller, Susie Sellsalot listed the house with you and insisted you use her "Beautiful Photos" from other seasons during the year. What are the top 3 things you should do ?
1. Insure she owns the rights to the photos or took them herself.
2. Check MLS Rules about time sensitive or seasonal photos.
3. Check content. No people in the photos Etc...
If an agent makes an oral representation to a consumer or another agent, can they be held to that representation ?
One way or another, YES