on behalf of a potential client?
For example, Jane visits a real estate office and asks for John(agent) who showed her couple of houses before. Jane asks John if he'll submit a low-ball offer on a house on behalf of her. If John refuses because there's probably no chance that the seller will accept, will John get into trouble with department of real estate? Remember, Jane didn't write or sign any paper work with John yet.
2007-06-02 16:52:29 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The agent has a fiduciary responsibility to submit all legitimate offers (offers made in writing) to the seller. If the agent fails to do so, he/she would be subject to legal challenge.
2007-06-02 17:01:55 · answer #1 · answered by Doctor J 7 · 1⤊ 0⤋
California and Florida Real Estate laws are structured very similarily. In Florida, a listing agent must submit all offers, or rumors of offers, to the seller whether written or not.
However, in most cases, they are transaction brokers and no longer represent buyer or seller. This does not relieve them of the responsibility to submit the offer. John must present the offer.
2007-06-02 17:26:15 · answer #2 · answered by Roamer 1 · 0⤊ 0⤋
A real estate agent works for the seller of the property, it is their job and duty to present the seller with every offer regardless of the amount. If an agent is not willing to write an offer for you I would report the individual to the local Realtors commission.
2007-06-02 17:14:58 · answer #3 · answered by D C 2 · 0⤊ 0⤋
All offers made in writing must be submitted. If the agent will not submit the offer they could be fined or have their license suspended. Why would an agent not submit one, I have no clue.
2007-06-03 03:20:28 · answer #4 · answered by frankie b 5 · 0⤊ 0⤋
It sounds like Jennifer replaced into no longer John's ability customer. It appears like John is the itemizing agent. as a result, his allegience is to the economic business enterprise and he's justified in encouraging Jennifer to no longer placed up an unrealistic low ball furnish. Jennifer did no longer have a longtime relationship with John or the brokers in his place of work, and brokers have the perfect to no longer artwork for ability purchasers that they see as unrealistic, because of the fact doing so could be a waste of their time. If John have been to refuse to bypass on a precise written furnish to the economic business enterprise, he could be violating his have faith with the economic business enterprise. although, there is no longer something incorrect with him telling Jennifer that he will basically accomplish that no remember if that's a valid furnish. as an occasion, if the furnish did no longer contain an significant factor of a freelance for actual assets, it would not be binding regardless of if the economic business enterprise signed it. as a result, an incomplete furnish is like no furnish in any respect. word that he did no longer say that he would not bypass on a precise crammed out furnish.
2016-10-09 08:35:55 · answer #5 · answered by ? 4 · 0⤊ 0⤋