If the Home is for Sale, Please don't keep it a Secret

We have a policy here that you have to have an agents permission to advertise a property, but I have only known one agent that will not allow others to market their listings. As for me, I could care less who wants to advertise mine, so long as they have the information correct. Free advertising is always a good thing, and if they can bring me a buyer, then great. I was already going to pay another agent for doing so. I see it as a help to me and my clients when my listings are advertised, so I love it when other agents want to do so.

In most states it is illegal under state license law to market the listings of another broker. It is wise for all agents to check their state's real estate license law to make sure they are in compliance.  It could cost an agent a fine, suspension or revocation of their real esate license. It may be done in inter-office of one company, but may need the brokers permission first before asking the other agent.  Also, a lot of agents in GA were advertising For Sale By Owner Properties and the state has given them warnings.  It is not allowed.  The property have to belisted by the company first. 

I read both comments, but contrary to what Jim says, in most states it is illegal under state license law to market the listings of another brother WITHOUT THEIR APPROVAL. Try getting their approval, though. It's virtually impossible. Probably an ego thing. After all, if their selling client happened to see their home listed by their agent on your web site, what would they think? Would they even ask their agent about it, or remain silent? I suspect most would remain silent, and it's that silence that can be damaging in the long term.

Also, the selling Client might think that the agent is getting paid for letting the other agent list the property on his web site, again a problem in the long term.

I have found it interesting that there are a lot of ActiveRain members who show listings by other brokers in their blogs here. I've always wondered about that, but I'm not the ActiveRain police or the real estate police, so I just move on.

Greg, I would say yes to it. Our Carolina MLS has an IDX (Internet Data Exchange) agreement and as long as we credit the listing offices with the listing, we can use those feeds on our web sites, etc.

I have asked agents (in the past) whether I could put their homes in advertisements, and they have always agreed to let me do so...with my contact information on them. 

Our association says to get approval in writing from the listing agent, to make sure you cover your bases. I did this when I was with RE/MAX and Coldwell Banker.

My thoughts, the more exposure that home has, the best shot it has of more showings and an offer.

Hi Greg,

I'm not sure why they turned you down.  How would you go about advertising their listings?  Would you be giving credit to them or would it look like a home you were trying to sell or had listed and would you be using it to capture buyers?  Maybe they are hopeful that they can find their own buyers and get both sides of the deal.  Personally, I'll take whatever free advertising I can get, but I guess it depends on how you present it in your blog.

Good luck!

Sincerely,

Kathleen

It's a matter of disclosure.  The advertisement should provide the name of the listing brokerage.  If you do not disclose the name of the listing brokerage, you are possible in violation of Article 2 of the code of ethics.  It is also a courtesy to obtain the brokers approval.  If the broker says no, try another one.  This may be rather difficult since even within each company, the brokers allow agents in the same brokerage to market the brokerage listings only after receiving the listing agents approval.

I just don't understand your reasoning.  If a home has been listed for over a year with no success, why would you like to align yourself with such a listing?  Sellers check out the internet regularly as with buyers.  When a potential seller or buyer sees a listing on your website after seeing the same listing on another website for a year, there is an excellent chance that the seller or buyer will think that your marketing techniques are not adequate.  I would not want to risk a negative perception.

Some agents may not feel it's necessary to have their listings marketed on individual sites since their listings get picked up automatically by other sites that subscribe to the IDX service. And when these listings appear, it will contain the words "courtesy of broker so and so).

It may simply be that the agents don't want to be bothered, or they don't feel inclined to try to keep track of who is marketig their listings.

But try this:

Many REOs don't bother with open house. Why not try to hold an open house for the REO agents? I know of one such agent who does this. He picks and chooses which properties to hold open (naturally, high traffic, good location, high upside potential) an has successfully picked up new buyers He may not have sold the REO itself,but he established a good relationship with the REO agents who were glad to have this kind of help. All the REO agents do, in return, is to post info n the MLS that the home will be open on such and such a date.