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#338660 - 05/20/10 03:18 PM
Contacting sellers as buyer prospects
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Major Contributor
Registered: 08/16/04
Posts: 1979
Loc: Cary, NC
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Does an agent have the right to contact a seller directly, who's house is listed with another firm, to market their buyer agency services to them ?
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the real estate industry is changing...
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#338661 - 05/20/10 03:22 PM
Re: Contacting sellers as buyer prospects
[Re: broker]
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Major Contributor
Registered: 11/15/06
Posts: 2050
Loc: The Middle of the Interstate
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Somewhere in the Code of Ethics it is stated that you can contact a client of another Realtor to offer another service. You can find the exact statement at Realtor.org
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Broker-Owner Thirteen Years REO Experience GRI,CRS,CRB,e-Pro
Some days I feel like the bug, other days I feel like the windshield
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#338668 - 05/20/10 04:11 PM
Re: Contacting sellers as buyer prospects
[Re: PA Roadkill]
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Major Contributor
Registered: 08/16/04
Posts: 1979
Loc: Cary, NC
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would you consider it unethical if another agent contacted your seller to promote their buyer agent services? if you have no buyer agency agreement, why should that seller be off limits to all other agents? perhaps you are a lousy agent and someone else is a superior agent that the seller may want to know about.
just asking.
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#338671 - 05/20/10 04:49 PM
Re: Contacting sellers as buyer prospects
[Re: broker]
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Major Contributor
Registered: 08/16/07
Posts: 2813
Loc: X
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#338675 - 05/20/10 05:06 PM
Re: Contacting sellers as buyer prospects
[Re: broker]
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Veteran Member
Registered: 01/19/06
Posts: 994
Loc: New Jersey
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Absolutely not. You can't do that, it is clearly interfering with agency. Buyer agency is not "another service". The listing agent always offers buyers agency and/or buyer referral service to their client. Any agent that pulls something like that on one of my listings will receive a personal visit, as will their broker. Agents need to generate their own business, not attempt to feed on the business generated by other agents.
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#338680 - 05/20/10 06:03 PM
Re: Contacting sellers as buyer prospects
[Re: navarac]
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Major Contributor
Registered: 08/16/04
Posts: 1979
Loc: Cary, NC
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wait a minute. why can't someone do that? how is this interfering with the existing seller agency relationship? as a listing broker you are not automatically someones "buyers agent". why shouldn't the seller have a choice who they use?
this is for discussion and i am not promoting it... but... as far as i can tell there is nothing in the rules and regs of real estate law that says this can't be done.
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#338682 - 05/20/10 06:25 PM
Re: Contacting sellers as buyer prospects
[Re: broker]
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Member
Registered: 12/24/09
Posts: 256
Loc: Ontario, Canada
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That would be a no-no here. From our code of ethics:
Dealings with other registrants
7. (1) A registrant who knows or ought to know that a person is a client of another registrant shall communicate information to the person for the purpose of a trade in real estate only through the other registrant, unless the other registrant has consented in writing. O. Reg. 580/05, s. 7 (1).
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#338683 - 05/20/10 06:32 PM
Re: Contacting sellers as buyer prospects
[Re: MHT]
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Member
Registered: 03/02/07
Posts: 127
Loc: Tempe, Arizona
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PA Roadkill is correct, according to the Realtor COE, it would appear to be Ok for a buyer agent to solicit a client of a listing agent for the pupose of buyer representation. It is a "different type of real estate service".
"Article 16 does not preclude REALTORS® from contacting the client of another broker for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided..."
Now, if the seller also contracted with the listing agent for buyer agency services, then it would be off limits.
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#338684 - 05/20/10 06:36 PM
Re: Contacting sellers as buyer prospects
[Re: MHT]
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Major Contributor
Registered: 08/16/04
Posts: 1979
Loc: Cary, NC
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i don't think that applies in this instance.
let me give you a scenario to mull on: someone is selling a house and also wants to buy a house. there is a buyers agent that will rebate back 75% of their commission to me if I use them.
you are saying that they can not know about this buyers agent because they can't contact the seller.
does that make any sense from the sellers perspective and do you think they have any idea that you claim to "own" them. ?
Edited by broker (05/20/10 06:45 PM)
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#338685 - 05/20/10 06:38 PM
Re: Contacting sellers as buyer prospects
[Re: broker]
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Major Contributor
Registered: 08/16/04
Posts: 1979
Loc: Cary, NC
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tempe posted just before me so i didn't see his response. yes... that makes sense.
how can there be such differing views among agents who are supposedly professionals licensed to practice real estate ???
Edited by broker (05/20/10 06:43 PM)
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#338686 - 05/20/10 06:39 PM
Re: Contacting sellers as buyer prospects
[Re: navarac]
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Member
Registered: 03/02/07
Posts: 127
Loc: Tempe, Arizona
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Absolutely not. You can't do that, it is clearly interfering with agency. Buyer agency is not "another service". The listing agent always offers buyers agency and/or buyer referral service to their client. Any agent that pulls something like that on one of my listings will receive a personal visit, as will their broker. Agents need to generate their own business, not attempt to feed on the business generated by other agents. Seems like you contradict yourself.
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#338687 - 05/20/10 06:42 PM
Re: Contacting sellers as buyer prospects
[Re: broker]
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Member
Registered: 12/24/09
Posts: 256
Loc: Ontario, Canada
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I believe that it certainly does apply. When you are contacting them to be their buyer agent you are obviously doing so "for the purpose of a trade in real estate".
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#338734 - 05/21/10 08:20 AM
Re: Contacting sellers as buyer prospects
[Re: Kjmendy]
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Member
Registered: 11/08/07
Posts: 452
Loc: South Carolina
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Whether or not it's technically ok in your area you are setting yourself up to be a Pariah with other agents in your area. Ditto!
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