Listing Agreement: Fill & Download for Free

A2AYes.SEBI (LODR) have replaced the Listing Agreement regulations. All compliance’s are now to be carried out as per the SEBI (LODR).Cheers

What is the biggest "slap in the face" value a realtor gave you when trying to list your home, or a buyer's realtor gave you when placing an offer on your home?United StatesMy in-laws have just gone through this. They are building their retirement dream home and got a special deal through their builder to have their current home sold commission-free by their partnered real estate agency. Of course that is only 1/2 of the commission as they will still have to pay 3% to the buyer’s agent, but on the surface it sounded like a great deal as the builder’s agent had listed their property at $300k and that saved them $9k on the sale.My wife and I met them the evening that it went on the market. They told us about the deal and what the property was listed for. I was shocked and told them that I thought they should be listing at $330–340k or above considering how hot the market was and my familiarity with their area. During dinner my SIL’s phone rang and it was good news, they had a full-price offer coming in and it was an investor with cash, but they wanted a answer by 9pm. The in-laws were giddy!I told my SIL to tell them that they would NOT make a decision until they had a fully executed offer in hand and at best they needed until 9am to make a decision. My SIL looked at me oddly as I was quickly swiping through my phone looking for an identical unit that had sold recently. I found one from August 2020 that had closed at $335k and I showed it to her. She told their agent, Courtney, what I instructed her to and hung up. I told my in-laws they were being swindled.We headed back to our house so we could review comps on a regular computer. We found 6 identical models in their condo complex that had sold since summer. The lowest at $320k and every one getting progressively higher priced through the year. In disbelief, my in-laws chatted about what to do. I told them it was super simple, call their agent back and ask her how she had come to price the listing.On speakerphone they called Courtney. They started with asking her how she came to the listing price. Courtney explained in a patronizing tone that their agency had an advanced system that took all comps in a 5-mile radius into consideration for the size, age, and condition of the property to determine the best listing price. Next they ask Courtney for the evidence of this system that produced the magic number. This is where the tap dancing comes in. It’s a proprietary system that only her manager could approve to share information from. They closed the conversation by telling Courtney to take the property off of the market until her manager provided the permission and a new listing price had been agreed on. Courtney balked, but ultimately agreed.The next morning my SIL got another song and dance from Courtney’s manager, Robyn, about their proprietary price setting system and guaranteed that the price was right. My SIL sent her the 6 MLS numbers I had dug out with their corresponding sale prices and told her re-list their property at $345k with a different agent as they no longer trusted Courtney’s judgement. The manager resisted both the price and the agent change reminding them of the commission-free deal and that they had signed an enforceable 180 day listing agreement.I had prepared my SIL for this response.My SIL said “Ok, you’re fired”. She went on to tell Robyn they were going to pursue termination of the listing agreement for cause, contacting the builder to terminate the contract citing their agency’s shady behavior, filing a complaint with the Colorado Association of Realtors, and a complaint with the Colorado Department of Regulatory Agencies. She wrapped up the monolog by offering Robyn my attorney’s contact information for any future communications.Robyn suddenly had change of attitude.They closed last Friday at $350k. Their agent Paul was actually quite pleasant.-James Smith“I used to believe there were no stupid questions, but then I started reading Quora.”

Can I cut out the real estate agent?Sure.Absolutely.NO PROBLEM.You can go right ahead and knock on the seller’s door. You can negotiate whatever price you want.There’s just one itty bitty problem. You’re not saving the seller a penny. The seller has already signed a listing agreement with the listing agent. If was an exclusive listing, he or she has already agreed on the amount to be paid. And that will be paid whether or not you negotiate the deal directly with the seller.And there might be another reason why the seller decided to use an agent, rather than attempt to sell it him/herself. And that’s so the seller wouldn’t have to be bothered by people knocking on the door trying to negotiate directly.