We bought a new home , and have less than 120 days to sell our existing home.Our listing agent was also the selling agent that we bought from.(New home)They accidentally listed our home as a TRIPLEX on the MLS. The realtor just called and I pointed out the error. Realtor apologized and said no calls have came in , we should lower the price.
Your input please, especially realtors.
2007-08-15 11:21:27 · 4 answers · asked by I tell it like it is 5 in Business & Finance ➔ Renting & Real Estate
Breach of fiduciary duty.
Realtor now gets to pay 17 days of your mortgage for the mistake.
Realtor's have to be held to a higher standard than a neophite that did not know better.
2007-08-15 12:27:54 · answer #1 · answered by Terry S 5 · 0⤊ 0⤋
Didn't you review the listing as soon as it published?
Get it fixed, and have the agent put a little extra effort in to market it over the next several weeks. Open houses, agent only days, front page listings in the sunday real estate paper, etc...
2007-08-15 11:27:51 · answer #2 · answered by cbmttek 5 · 1⤊ 0⤋
i'll bet your listing agreement (the contract) already has something in it about errors and that Realtor's sole liability is to fix them as soon as they are pointed out.
I make that bet knowing the industry's attorneys wrote up the contract, not your attorney, and therefore it has all sorts of little features in it to protect their tails.
***
as to the price ... no calls on a wrong listing isn't evidence as far as I'm concerned.
***
Btw, your purchase of the other house is contingent on you selling your present house for a satisfactory price, isn't it?
Or did you let the agent talk you out of that, too??
{Who is running this show anyway??}
GL
2007-08-15 11:44:42 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
I wouldn't lower the price because of this. If you need to lower the price because of other issues, like market evaluation and a need to sell quick, then do that.
2007-08-15 11:29:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋