Any Real Estate Experts?? - Page 2

LVR · #11 10-11-2006, 05:03 AM

Your legislation in Iowa clearly states that a) there has to be disclosure of the full term on the brokerage authority, and b) any details of a protection agreement have to be produced by the broker

If you've got a copy of the listing authority it should settle it all for you....

a) 193E—11.1(543B) Listing brokerage agreements. All listing agreements shall be in writing, properly identifying the property and containing all of the terms and conditions under which the property is to be sold, including the price, the commission to be paid, the signatures of all parties concerned and a definite expiration date. The agreement shall contain no provision requiring a party signing the listing to notify the broker of the listing party’s intention to cancel the listing after such definite expiration date. An exclusive agency or exclusive right to sell listing shall clearly indicate that it is such an agreement. A legible copy of every written listing agreement or other written authorization shall be given to the owner of the property by a licensee as soon as reasonably practical after the signature of the owner is obtained.

b)193E—11.2(543B) Enforcing a protective clause. To enforce a protective clause beyond the expiration of an exclusive listing contract, there must be a provision for the protective clause in the listing contract which establishes a definite protection period, and the broker must furnish to the owner prior to the expiration of the listing the names and addresses of persons to whom the property was presented during the active term of the listing and for whom protection is sought.

You can get further info here

Cheers

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Wagner · #12 10-11-2006, 06:04 AM

Quote:

Originally Posted by djbock

Here are a few more details in the situation. The property is located in Iowa and I am not. She was very, very unprofessional the first time around and that is why we did not resign with her. After the end of her contract she tried to put a lein against us for damage that was done to her sign as a result of snow being plowed into it. She also had someone come repair a fence that was broken, according to her, that was never authorized by me. She has also never returned the keys to the property and so it was rekeyed after her contract was up.

Within the last week we have had an additional 3 people interested in it. So I am not too concerned with her and her clients. There has not been any offers from them other than what they offered over a year ago. I will definitely get in touch with my lawyer and see what he has to say. Thanks for all of the help on this as it is not a situation that I have had to deal with before.

Wow, [DeNiro voice] Fuggetaboutit [/DeNiro voice]. Don't worry about her she has no claim.

E61Silver · #13 10-11-2006, 10:32 AM

A word of caution, the residential market is softening or is soft.

You need to price the property right, I would say just under recent comparable sales.

Not sure how strong your market and what the correct price is. You can go on line and get a free avm valuation assuming your house is similar to other homes in the area, using zillow. If the homes are not similar I would suggest getting a appraisal done by a appraiser with MAI designation. http://www.appraisalinstitute.org/

It might be that the current offer is fair and you should take it. You might be better off paying the commission and selling now.

billkirch · #14 04-30-2007, 01:31 PM

X5guyInLA had it right. You need to read what the original listing contract stated. Not familiar with Wisc. In PA there is usually a grace period of 60-90 days (could be longer though), if a buyer came through the property during the original listing contract period and submits an acceptable offer the original listing broker is entitled to the listing commision. Almost everything is negotiable in contracts, Best thing you can do is READ the contract see what it states.

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