Ask sellers how to handle mutliple offers

Article Abstract:

Listing agents should discuss procedures for handling multiple offers with the homeowners before listing a house. Sellers must understand the risks and advantages of informing potential buyers about other offers.

Marketing, Practice

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Avoid a breach

Article Abstract:

Three recent court decisions help to improve understanding of the real estate agent's fiduciary responsibilities to clients. In one suit, the agent's failure to verify square footage data obtained from a database and which proved inaccurate was found by the court to breach fiduciary duty to the client. In another case, the agent was not violating fiduciary duties in refusing to respond to buyer questions about the racial makeup of a particular neighborhood, which, had it been provided, would have violated fair housing regulations.

Legal issues & crime, Legal/Government Regulation, Other Activities Related to Real Estate, REAL ESTATE, Real Estate Services, Company legal issue, Cases, Fiduciary duties

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Opt-out risks

Article Abstract:

National Association of Realtors (NAR) provides a new policy for both blankets opt out and a selective opt out, on how realtors brokers can display listings on Virtual Office Web (VOW). It is suggested that if the policy opt-out provision is not implemented properly, then brokers could not display listings on other brokers' VOW.

Management dynamics, Management, National Association of Realtors, Company business management

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