Question for those that have sold contracts

[Sandisw]

Has anyone ever listed their contract with more than one resale broker?

I have my contract up with one and wondering if it is worth trying to put it up with others as well...does it make sense to do this or is it just a hassle?

I would love to hear anyone's experience with this.

TIA!
Sandi

 

[disneynutz]

It doesn't make sense to me why you wouldn't list with all Brokers. Don't you really want to sell?

 

[mcorbo]

I listed with 3 brokers, there was a fourth that wanted a 6 month exclusive contract and I told them no.

 

[Sandisw]

It doesn't make sense to me why you wouldn't list with all Brokers. Don't you really want to sell?

Absolutely, I want to sell but I also want to hear from others who have done it to see if there were any drawbacks to doing it, that's all.

 

[Sandisw]

I listed with 3 brokers, there was a fourth that wanted a 6 month exclusive contract and I told them no.

Thank you.

 

[rlt431]

We listed with 2 in Nov. I believe. We sold our SSR the end of March. Good luck.

 

[The Red Head]

We are selling some BWV points right now and decided to go with one broker. Even though they are not exclusive and you can cancel the contract at any time, the contract said if they bring you an offer for your full price they get the commission. We were afraid that if we got an offer at one and went to cancel at other brokers and one of them said they had an offer when we went to cancel the contract we we owe them a fee as well, so we decided to just list with one. Maybe someone who has listed with multiple brokers can let me know if I am just being paranoid and I should be listing with more than one.

 

[JimMIA]

We are selling some BWV points right now and decided to go with one broker. Even though they are not exclusive and you can cancel the contract at any time, the contract said if they bring you an offer for your full price they get the commission. We were afraid that if we got an offer at one and went to cancel at other brokers and one of them said they had an offer when we went to cancel the contract we we owe them a fee as well, so we decided to just list with one. Maybe someone who has listed with multiple brokers can let me know if I am just being paranoid and I should be listing with more than one.

That is standard practice in virtually any real estate contract. Your listing is an offer to sell at a certain price; if a buyer accepts your asking price, the realtor has done their job and you owe them their commission. (if the prospective buyer makes a counter-offer which you decline, obviously you owe nothing)

Theoretically, it is possible for two nearly simultaneous offers to occur. In that case, it would be critical that you cancel the other listing immediately, but if there was a delay in one broker notifying you, I'm not sure what would happen. Seems like that would be extremely unlikely, and maybe one of the lawyers here can tell us what your position would be in that situation.

 

[Sandisw]

We are selling some BWV points right now and decided to go with one broker. Even though they are not exclusive and you can cancel the contract at any time, the contract said if they bring you an offer for your full price they get the commission. We were afraid that if we got an offer at one and went to cancel at other brokers and one of them said they had an offer when we went to cancel the contract we we owe them a fee as well, so we decided to just list with one. Maybe someone who has listed with multiple brokers can let me know if I am just being paranoid and I should be listing with more than one.

Thank you for the feedback. This was exactly the type of information I was looking for...possible negatives for listing with two agents. Since my contract can not close for awhile, I may hold off on signing with a 2nd broker.

As much as I would like to get a buyer quickly, I don't want to put myself in a position to risk having to pay 2 commissions. While unlikely, it would be my luck to end up with two full price buyers at the exact same time and I end up owing 20% commission instead of 10.

 

[Sandisw]

That is standard practice in virtually any real estate contract. Your listing is an offer to sell at a certain price; if a buyer accepts your asking price, the realtor has done their job and you owe them their commission. (if the prospective buyer makes a counter-offer which you decline, obviously you owe nothing)

Theoretically, it is possible for two nearly simultaneous offers to occur. In that case, it would be critical that you cancel the other listing immediately, but if there was a delay in one broker notifying you, I'm not sure what would happen. Seems like that would be extremely unlikely, and maybe one of the lawyers here can tell us what your position would be in that situation.

Thank you for the information. It is greatly appreciated. Not sure I am willing to put myself into this position right now, no matter how small the risk.

 

[Sandisw]

I read through all the paperwork from the 2nd broker and you are indeed required to pay them the commission if they bring you a full offer, if they have not received written notification that you are removing the contract from the market.

As I was mulling over what to do, I got an offer from the original broker!!! Faxing my paperwork back today and hopefully, the new buyer will do the same!

Thanks for all the advice!!!

 

[5forDiz]

I read through all the paperwork from the 2nd broker and you are indeed required to pay them the commission if they bring you a full offer, if they have not received written notification that you are removing the contract from the market.

As I was mulling over what to do, I got an offer from the original broker!!! Faxing my paperwork back today and hopefully, the new buyer will do the same!

Thanks for all the advice!!!

That's great news Sandisw Maybe you may want to

post to Donald Is #1's ROFR thread - it's always a great help to

prospective buyers and sellers and those of us members here who are

all too often thinking of next add-on ( & we know who we are! )

Best wishes
~Laura

 

[Sandisw]

That's great news Sandisw Maybe you may want to

post to Donald Is #1's ROFR thread - it's always a great help to

prospective buyers and sellers and those of us members here who are

all too often thinking of next add-on ( & we know who we are! )

Best wishes
~Laura

As soon as I know that the contract is off to Disney for ROFR, I will certainly post all the details! I just faxed my papers about an hour ago--if the buyer sends in theirs today, I would assume it should go on Monday!!

Thanks!
Sandi

 

[The Red Head]

Sandi, that is great news. If you don't mind me asking how long was it listed for before the offer came in and which broker did you list it with. I am just curious, since I am selling a contract right now too. If you don't want to give all the info on the boards can you pm me. Thnaks.