Quote:
Originally Posted by Sooner or later
If the agent is a member of NAR they must present all offers that are written up. The seller can set a low floor of sales price and request the agent not present an offer below the floor.
Failure to do so puts the agent at odds with NAR code of ethics.
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Correct. It’s to ensure the agent is acting in the seller’s interest, not their own. As an example, house is listed $400,000. You offer $300,000 but include a term/condition that’s mutually beneficial. The RE agent isn’t going to be happy about a 25% cut in commission but they are obligated yo present it anyway.
Also, I think it may go beyond ethics and be in the listing contract. I can’t recall, my license lapsed long ago.
Lastly, contractually, the seller could have an obligation to the RE agent for the commission, should the RE agent prove that their listing introduced you to the property even if your transaction takes place after the listing contract expires.
Granted thats near impossible to prove unless you signed into an open house or otherwise corresponded with the RE agent. But really that’s the seller’s problem, not yours.