How to list a property that's already listed.

By
Real Estate Broker Owner with Bryant Tutas-Tutas Towne Realty, Inc BK607690

for saleDo you ever take post dated listings? What I mean is, a potential Seller calls you up and wants to get together and discuss placing their property on the market, the catch is, they are currently listed with another company. What do you do? Well, I'll tell you what I do, I go over and take the listing. Did you know this was perfectly ethical?

What you can't do is try to convince them to cancel their existing agreement or bad mouth their current Realtor. Also, you must post date the listing agreement. But other than those three things, this is an acceptable way to do business. I actually run across this quite often in my business and never hesitate to take the listing.

My feeling on this is that, these Sellers just want to sell their house, if their current situation is not working out for them, then, I am more than happy to give them another option. How do you feel about this? Do you do it?

Would it make you angry if I did this on one of your listings?

Well, I've never had it happen on one of my listings but don't think it would bother me at all. I too want my Sellers to sell their house and if for some reason I can't get the job done, I would want them to seek another REALTORS(R) services. Heck I may even make a recommendation to them.

Here's the section in our Code of Ethics that covers this situation.

Standard of Practice 16-6

  • When REALTORS® are contacted by the client of another REALTOR® regarding the creation of an exclusive relationship to provide the same type of service, and REALTORS® have not directly or indirectly initiated such discussions, they may discuss the terms upon which they might enter into a future agreement or, alternatively, may enter into an agreement which becomes effective upon expiration of any existing exclusive agreement. (Amended 1/98)

So, the next time this situation presents itself, go take the listing. Don't feel bad about it, just do it. It's all a part of good business practices and it helps the consumer out. And that really is what it's all about. What say you?

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Re-Bloggged 6 times:

Re-Blogged By Re-Blogged At
  1. Larry Amorosso 09/18/2009 08:46 AM
  2. Carolyn L-MIS 09/18/2009 09:57 AM
  3. Sandy McAlpine 09/18/2009 10:45 AM
  4. Judi K Barrett 09/18/2009 02:09 PM
  5. Jeremy Brandt 09/21/2009 04:30 PM
  6. Tim Ludemann 09/22/2009 12:03 PM
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Topic:
Real Estate Best Practices
Groups:
Real Estate Rookie
Tags:
listing presentation
opinion
code of ethics

Comments 267 New Comment

Anonymous
Anonymous

It may be legal, and it may be ethical, but I believe that it is in violation of at least our MLS rules, because you are not to post date a listing. I prefer to have them cancel the first listing then sign mine. That way I avoid the fine, and feel okay with myself.

September 30, 2009 04:34 PM
Rainer
13,783
tbd tbd

This is the greatest post in the history of all real estate post ever! Human nature at its best and worst. Real estate practices at its most hypocritical.

Real estate is a business.

Business is about profit.

You wouldn’t be in real estate if you didn’t want to profit.

Ethics are relative.

Many say it’s unethical to earn a percentage of sale based on sale price!

Almost all of you touting “not ethical” or “I wouldn’t do it” still take that percentage from those homeowners. They said it’s unethical. You think it’s ethical. Now a business practice you don’t agree with is unethical?

***Those thinking this is NOT ethical don’t realize how you are being “unethicated” against with your everyday common needs. You play right into many unethical business practices with living habits by companies you can’t live without.***

Nobody is looking at the big picture anymore.

We're all trying to justify our beliefs saying my puzzle piece is right and your piece doesn't belong ... yet every piece forms the big picture, interlocked together to make a united and awesome display.  It's about the completed picture, not the individual piece.

October 14, 2009 08:13 PM
Rainmaker
207,517
Andi Grant
First Time Home Buyers Los Angeles, Long Beach
310-508-4354 | FirstTimeHomeBuyerRealEstate.com

Wow, I'm reading this over a year after you originally posted because your brain was picked clean and gave me a page of listing presentation links to read in the meantime. Boy have I've been entertained.

I knew of post-dating placement on the MLS, but had no idea you could post-date a listing while a seller was already under contract because of signature date.  It has simply never came up and I've heard no discussion of it during meetings or watercooler talk. 

I of course have had to hunt down AWOL listing agents to sign Listing Cancellation Agreements before.  Unbelievable...I get more referrals from AWOL agents.

 

 

October 25, 2010 05:10 PM
Rainmaker
1,080,090
Bryant Tutas
Broker/REALTOR, Tutas Towne Realty, Inc
Bryant Tutas-Tutas Towne Realty, Inc

Hi Andi. I see you are taking the Broker Bryant Blog tour!! As you can see this article created quite the stir. The seller's signature does not need to be post dated. Just the start date for the listing. The start date for the listing is when the property goes into the MLS. I have done this many times. It works like a charm.

October 25, 2010 05:20 PM
Rainer
538
Woodie Wills
The Listing Firm

Question; if an agent saturates an area with their marketing materials and is contacted by a homeowner who received their mailing but, has an active listing agreement with another agent could it be considered the agent made 'initial contact' through their direct marketing?? 

April 13, 2012 11:27 AM
Rainmaker
1,080,090

Bryant Tutas

Broker/REALTOR, Tutas Towne Realty, Inc
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