Listing Contract Question.

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sugarspunZ_IHB

sugarspunZ_IHB

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Long story kind of short...

I took a listing on Friday and today found out that is it also listed with another agent.

Seller attempted to do a loan modification which was not successful. The douche bag loan mod agent referred them to an even bigger douche bag real estate agent. The listing with the douche bag agent expires on the 29th of this month. The seller told me that they had spoken to another agent about selling their home but did not sign anything. Just to be safe I did my due diligence to check if the property was on the MLS prior to me taking the listing. It was/is NOT on the MLS. Today I stopped by the sellers home to pick up all of their financials (this is a short sale) and they showed me listing agreement that they forgot about signing.



Fun Facts about deal with douche agent:

1) Douche agent is not the same as the agent on the listing agreement

2) Douche agent is licensed with a different broker than the agent on the listing agreement.

3) Listing agreement is not signed by listing agent.

4) Listing agent is not a Member of OCAR

5) Subject property is not listed on the MLS

6) Subject property is listed on SANDICOR San Diego's MLS

7) Subject is a 1 bed 1 bath and is listed as a 2 bed 2 bath (LOL)

8) Subject is priced about $50,000 to much (LOL)

9) Obviously douche agent and listing agent are in San Diego NOT OC.



Do I need to worry about this as long as the home doesn't sell by the 29th? What do I need to do to cover my butt? Should I put my listing on hold or withdraw it until the 30th?



thanks in advance for your $0.02
 
[quote author="sugarspunZ" date=1251195944]Long story kind of short...

I took a listing on Friday and today found out that is it also listed with another agent.

Seller attempted to do a loan modification which was not successful. The douche bag loan mod agent referred them to an even bigger douche bag real estate agent. The listing with the douche bag agent expires on the 29th of this month. The seller told me that they had spoken to another agent about selling their home but did not sign anything. Just to be safe I did my due diligence to check if the property was on the MLS prior to me taking the listing. It was/is NOT on the MLS. Today I stopped by the sellers home to pick up all of their financials (this is a short sale) and they showed me <span style="color: blue;"><strong>listing agreement that they forgot about signing. </strong></span>



Fun Facts about deal with douche agent:

1) Douche agent is not the same as the agent on the listing agreement

2) Douche agent is licensed with a different broker than the agent on the listing agreement.

3) Listing agreement is not signed by listing agent.

4) Listing agent is not a Member of OCAR

5) Subject property is not listed on the MLS

6) Subject property is listed on SANDICOR San Diego's MLS

7) Subject is a 1 bed 1 bath and is listed as a 2 bed 2 bath (LOL)

8) Subject is priced about $50,000 to much (LOL)

9) Obviously douche agent and listing agent are in San Diego NOT OC.



Do I need to worry about this as long as the home doesn't sell by the 29th? What do I need to do to cover my butt? Should I put my listing on hold or withdraw it until the 30th?



thanks in advance for your $0.02</blockquote>


Sorry to hear about your trial-by-Summer's Eve experience.



A couple of things...



1. Highlighted in blue sounds very fishy.

2. What type of listing agreement is it? Open, Agency, or Exclusive? So long as it is not an "Exclusive Right to Sell" you should have no worries.

3. If it IS exclusive, sellers would need to get a COL signed by the broker before you can begin, or wait until the 30th. Once it does expire or is cancelled, you'll also need to see if he/she carries an exclusion list for the following 30 days.

4. Is it worth the hassle with this particular set of sellers, who have been at best, "questionably honest" with you so far?



My turn...



5. What insight can you give on the short sale listings you've dealt with? How is the process evolving? Any keys to getting quicker turnarounds or better results for your clients to share? (very sincere questions)



Thank you,

-IR2
 
[quote author="IrvineRealtor" date=1251197040][quote author="sugarspunZ" date=1251195944]Long story kind of short...

I took a listing on Friday and today found out that is it also listed with another agent.

Seller attempted to do a loan modification which was not successful. The douche bag loan mod agent referred them to an even bigger douche bag real estate agent. The listing with the douche bag agent expires on the 29th of this month. The seller told me that they had spoken to another agent about selling their home but did not sign anything. Just to be safe I did my due diligence to check if the property was on the MLS prior to me taking the listing. It was/is NOT on the MLS. Today I stopped by the sellers home to pick up all of their financials (this is a short sale) and they showed me <span style="color: blue;"><strong>listing agreement that they forgot about signing. </strong></span>



Fun Facts about deal with douche agent:

1) Douche agent is not the same as the agent on the listing agreement

2) Douche agent is licensed with a different broker than the agent on the listing agreement.

3) Listing agreement is not signed by listing agent.

4) Listing agent is not a Member of OCAR

5) Subject property is not listed on the MLS

6) Subject property is listed on SANDICOR San Diego's MLS

7) Subject is a 1 bed 1 bath and is listed as a 2 bed 2 bath (LOL)

8) Subject is priced about $50,000 to much (LOL)

9) Obviously douche agent and listing agent are in San Diego NOT OC.



Do I need to worry about this as long as the home doesn't sell by the 29th? What do I need to do to cover my butt? Should I put my listing on hold or withdraw it until the 30th?



thanks in advance for your $0.02</blockquote>


Sorry to hear about your trial-by-Summer's Eve experience.



A couple of things...



1. Highlighted in blue sounds very fishy.

2. What type of listing agreement is it? Open, Agency, or Exclusive? So long as it is not an "Exclusive Right to Sell" you should have no worries.

3. If it IS exclusive, sellers would need to get a COL signed by the broker before you can begin, or wait until the 30th. Once it does expire or is cancelled, you'll also need to see if he/she carries an exclusion list for the following 30 days.

4. Is it worth the hassle with this particular set of sellers, who have been at best, "questionably honest" with you so far?



My turn...



5. What insight can you give on the short sale listings you've dealt with? How is the process evolving? Any keys to getting quicker turnarounds or better results for your clients to share? (very sincere questions)



Thank you,

-IR2</blockquote>


the listing is exclusive. the seller is emailing them tomorrow to cancel the listing. i am really not worried about an exclusion list because the house has not been shown by anyone since the original listing.



in terms of short sales... i pm'ed you.
 
another issue is the douche agent is missing in action and the seller doesnt even have the actual agents contact info. i am sure i do some snooping and figure it out, but i think it will be easier to just withdraw the listing until the 30th.
 
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