5,104,931
Because (a) it is and (b) it's an easy path for an agent to take advantage of the seller. And that's why (a) comes into play.
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John Juarez
Fremont, CA
-
Carol Williams
Wenatchee, WA
-
Sandy Padula & Norm Pa...
, CA
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
344,438
"A net listing is an agreement between the seller of a home and the broker entrusted by the seller to find a buyer. In most listing agreements, the broker is entitled to a percentage of the selling price as his commission. Conversely, in a net listing agreement, the broker takes as his commission the difference between the sale price and the net price agreed upon by the seller, as long as the sale price is higher. Since this practice can put the broker in a position to exploit the seller, it is considered illegal in many locations." What is a net listing?
-
John Juarez
Fremont, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
4,882,355
They do not put the interest of the client first.
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
2,781,173
Laws on the books means events happened that led up to them being passed
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
6,393,404
They are perceived as exploitable.
-
Bob Crane
Stevens Point, WI
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
1,090,637
To protect the public from unscrupulous brokers.
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Nina Hollander, Broker
Charlotte, NC
5,230,079
Kris Collis gave you a great explanation. Good luck with your studies!
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Nina Hollander, Broker
Charlotte, NC
2,390,620
Because unscrupulous agents could take advantage of their clients with them.
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Debe Maxwell, CRS
Charlotte, NC
1,725,996
As the Birthday Girl, Nina Hollander wrote
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
3,345,091
I wish you all the best with your real estate studies.
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,239,901
Net listings are legal in California only if the commission amount is disclosed to the seller before she becomes committed to the sale.A type of listing in which the commission is any amount received from the sale over and above the "net" required by the seller.
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
7,836,134
Consumer protection.
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,502,998
Because too many schysters used them to screw people over.
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
469,510
Makes it too easy to exploit uninformed sellers for those few self serving bad eggs every industry has.
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Bob "RealMan" Timm
Minot, ND
3,416,038
They are illegal here in NH as well. The sole reason is the most money should go to teh seller, not to an agent who can pad their commission by selling over what the seller wants
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
921,504
Consumers, in this information age, are considered at a disadvantage in knowing the value of their real estate. These same consumers who own commercial grade real estate are deemed smarter.
As such, 'net listing' option is taken away as an option in most states, becuase an agent may take advantage of the consumer.
"Net listings" however, require of the agent to actually do some work, research the property, determine best use, market it effectively and negotiate the best possible price. Instead, agents are order takers and market exclusively through the MLS. But the consumer is perceived to be represented and safe.
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
5,216,398
Kris Collis has you covered on this one!
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
2,178,603
5,772,575
1,598,452
5,868,554
4,936,677
1,311,397
A Net Listing can benefit the broker unfairly or at least appear to do so. It would not be in alignment with the fiduciary duty owed to the client.