April 9th, 2018 at 2:14 pm
Multiple Choice Question: I am the listing agent. We received an offer from Buyer #1. I also spoke with another agent who said that Buyer #2 will be submitting an offer this afternoon. Can I use the Seller Multiple Counter Offer (SMCO) to respond to Buyer #1 right now, even though we do not have any other offers yet? Pick the best answer:
A. Yes.
B. Yes as long as an SMCO goes out to Buyer #2 today.
C. Yes, if the SMCO to Buyer #1 says there are no other offers right now.
D. No. (more…)
April 2nd, 2018 at 1:18 pm
Multiple Choice Question: Another brokerage has a listing that is under an “Active” status in the MLS. I have nothing to do with that listing. The seller has nevertheless contacted me directly, and he left me a voicemail asking me to call him back. What should I tell him? Pick the best answer:
A. That I cannot talk to him under both legal and Code of Ethics requirements.
B. That I cannot talk to him under Code of Ethics requirements.
C. That he should give me written authorization before we talk.
D. Whatever I would normally say to a seller without an active listing agreement. (more…)
March 26th, 2018 at 5:54 pm
Question: I am the listing agent. In response to a buyer’s offer, my seller insists that we write into the Seller Counter Offer (SCO) that the property shall be sold in its “As-Is” condition. First, what does “As-Is” really mean? Second, should we add “As-Is” to the SCO? (more…)
March 19th, 2018 at 12:55 pm
Question: Last week you addressed how we cannot pay a commission to an attorney representing a buyer. What if an attorney merely refers to me a client — either a buyer or seller? Can I pay the attorney a referral fee? (more…)
March 12th, 2018 at 1:58 pm
Question: I am the listing agent. An attorney representing the buyer wants me to pay him the 3% commission listed in the MLS. He does not have a real estate license, and no one will be the buyer’s agent. The attorney claims that, as an attorney, he is exempt from the real estate licensing requirements. Can he receive a real estate commission? (more…)
