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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Agents and foreclosure Posted by Jk on June 19, 2003 at 7:07 PM In Reply to: Agents and foreclosure posted by Sean on June 19, 2003 at 9:12 AM : Hi Ward, : Do agents have the right to an exclusive listing with someone in foreclosure? I have been through this before with agents who are listing the property but don't return phone calls, and in one case the home went to trustee sale because they didn't feel the offer was high enough. Can they legally do this? : Thanks. An Exclusive Listing is a contract between a homeowner and a real estate agent. No homeowner is forced to sign that contract, it is voluntary. If any agent does not return phone calls, then perhaps you should try to contact the agents broker and if that doesn't work then the homeowner (assuming you are not an agent). Agents have a fiduciary responsibility to present all offers to a homeowner. Many homeowners put emotions before logic and may refuse to take a low offer. I can't tell you how many times I heard "I'll let it go back to the bank before I sell for that". I've seen many listings where the homeowner has not even informed his agent that they are in foreclosure. Like any industry there are good, bad, and mediocre people that work in it. Some agents know very little about the foreclosure process. Some (like myself) are very educated in the process (thanks to Ward) and have helped many homeowners in situations where they didn't have enough equity to do an equity share with an investor. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, : : Do agents have the right to an exclusive listing with someone in foreclosure? I have been through this before with agents who are listing the property but don't return phone calls, and in one case the home went to trustee sale because they didn't feel the offer was high enough. Can they legally do this? : : Thanks. : An Exclusive Listing is a contract between a homeowner and a real estate agent. No homeowner is forced to sign that contract, it is voluntary. If any agent does not return phone calls, then perhaps you should try to contact the agents broker and if that doesn't work then the homeowner (assuming you are not an agent). Agents have a fiduciary responsibility to present all offers to a homeowner. Many homeowners put emotions before logic and may refuse to take a low offer. I can't tell you how many times I heard "I'll let it go back to the bank before I sell for that". I've seen many listings where the homeowner has not even informed his agent that they are in foreclosure. Like any industry there are good, bad, and mediocre people that work in it. Some agents know very little about the foreclosure process. Some (like myself) are very educated in the process (thanks to Ward) and have helped many homeowners in situations where they didn't have enough equity to do an equity share with an investor. 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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