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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Is this legal? Posted by SeanW on May 08, 2003 at 5:52 AM In Reply to: Is this legal? posted by Michael Regan on May 08, 2003 at 0:26 AM I'll be interested to hear what Ward has to add to the legality of things. But I don't think the MLS is the issue. The MLS is just an agreement between brokers that anyone participating in the MLS will list their properties, and not hold "pocket listings" in private -- (which would defeat the purpose of the MLS.) I'm not sure where you're looking for your MLS listings. Remember that Realtors have instant access to the MLS updates. Schlubs like us looking at Realtor.com or Homeseekers.com will see things about a week late. I'll hazard a guess that if the seller's agency agreement has no cancellation clause (a stupid act on his part!), that cutting the broker out of a sale is a breach of contract between them, but not necessarily a problem for you. I.e. is the sales agent prepared to file a lawsuit to undo a legal sale? Would a judge really find against a homeowner in distress, trying to mitigate his losses? What ARE his actual damages after a couple of days? (Some cell phone calls to his buddies? I mean, come on!) I think if I was a home owner in this situation I'd just FAX a cancellation to the Realtor anyway with a hundred bucks, figuring he'll cash it and I'd be off the hook. You could try to placate the sales guy by offering to list the house with him when it's fixed up. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I'll be interested to hear what Ward has to add to the legality of things. But I don't think the MLS is the issue. The MLS is just an agreement between brokers that anyone participating in the MLS will list their properties, and not hold "pocket listings" in private -- (which would defeat the purpose of the MLS.) I'm not sure where you're looking for your MLS listings. Remember that Realtors have instant access to the MLS updates. Schlubs like us looking at Realtor.com or Homeseekers.com will see things about a week late. : I'll hazard a guess that if the seller's agency agreement has no cancellation clause (a stupid act on his part!), that cutting the broker out of a sale is a breach of contract between them, but not necessarily a problem for you. I.e. is the sales agent prepared to file a lawsuit to undo a legal sale? Would a judge really find against a homeowner in distress, trying to mitigate his losses? What ARE his actual damages after a couple of days? (Some cell phone calls to his buddies? I mean, come on!) I think if I was a home owner in this situation I'd just FAX a cancellation to the Realtor anyway with a hundred bucks, figuring he'll cash it and I'd be off the hook. : You could try to placate the sales guy by offering to list the house with him when it's fixed up. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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