Home > Blogs > Roy Kelley > Roy Kelley

Is your real estate broker refusing to accept contracts on your home?

By Roy Kelley

Industry Observer with Retired

June 10, 2013 09:42 PM

Is your real estate broker refusing to accept contracts on your home?

Home sellers need to be very careful when selecting a listing agent to market their home. It has always been good advice to use an experienced agent that really knows the local market. That agent also needs to know how to successfully handle multiple contract situations.

Now, there is another reason to avoid some listing agents. Montgomery County, Maryland real estate professional Johnice Comer posted this on Facebook this morning:

“To the Weichert agent that called me on Sunday to tell me about her new listing that would be perfect for the buyers I've been working with for a very long time: After I made the appointment to show and got my clients very excited, she then tells me it's an exclusive listing to Weichert to give their agents the opportunity to sell it until July 15 and if my clients would like to make an offer, I can refer it to one of their agents and receive a 25% referral fee. Here's your feedback... my very loyal clients aren't interested.”

My advice to home owners is to avoid real estate brokers that restrict the sales of their listings.

Are real estate firms in your area reserving sales for their own agents for a period of time before accepting contracts from agent with other companies?

Comments(22)

Comment

Show All Comments

Sort:

Connie Harvey

Pilkerton Realtors - Brentwood, TN

Realtor - Nashville TN Real Estate

Roy, that is just plain wrong! It's not in the best interest of the Sellers!

Jun 10, 2013 09:56 PM

Dan Hopper

Dan Hopper - Gold Way RE - Westminster, CO

Colorado Broker / Referral Services

Roy, that is just plain POOR!! This firm knows better than to have a so called "pocket listing" when they have membership with the Local MLS. What goes around... comes around!!

Jun 10, 2013 10:02 PM

Robert Bob Gilbert

Berkshire Hathaway HomeServices Anderson Properties - Katy, TX

Your Katy TX ( West of Houston) Real Estate Expert

Roy,

Frankly in my simple mind that pratctice of reserving is a bunch of hog wash. I have stronger language but this is your blog and the internet. We are not doing that at all as far as I am aware. Anyone can buy.

Jun 10, 2013 10:09 PM

Debbie Laity

Cedaredge Land Company - Cedaredge, CO

Your Real Estate Resource for Delta County, CO

I feel bad for the sellers. They probably don't realize what they've gotten themselves into.

Jun 10, 2013 10:26 PM

Noah Seidenberg

Coldwell Banker - Evanston, IL

Chicagoland and Suburbs (800) 858-7917

Roy, I think in our area this is grounds for a fine. It is also just plain poor business practice and word will get out.

Jun 10, 2013 10:54 PM

Carla Freund

Keller Williams Preferred Realty - Raleigh, NC

NC Real Estate Transition & Relocation 919-602-848

Wow Roy, this is obviously a heated practice. We must submit all offers to sellers. I agree with Andrew above. It makes the RE Industry as a while look bad.

Jun 10, 2013 11:02 PM

Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

Luxury Real Estate Branding, Marketing & Strategy

Roy,

Wow, that is a DISSERVICE TO HER SELLERS! It is not good form to do that under any or all circumstances, it casts a shadow over the reputation of the company...We would not do it in our office! A

Jun 10, 2013 11:30 PM

Alan Gross

PrimeLending, A PlainsCapital Company, Equal Housing Lender - Bethesda, MD

Loan Consultant

Real estate agents are supposed to act in the best interest of their clients. Can someone give me one example of how this is acting in the best interest of their clients?

Jun 10, 2013 11:37 PM

Clint Mckie

Desert Sun Home, commercial Inspections - Carlsbad, NM

Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Roy,

Makes no sense to have restrictions on a sale of a home. Especially when you are wanting to sell it in the first place.

I'm no Realtor, but it seems it makes no sense to me.

Have a great day in Gaithersburg my friend.

Best, Clint McKie

Jun 10, 2013 11:55 PM

Pat & Steve Pribisko

Keller Williams Greater Cleveland West - Westlake, OH

Roy, this is an excellent blog. A number of agents and brokers in my market area think one company may be doing similar types of dealings, but has not admitted it. Suggest.

Jun 11, 2013 12:20 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Roy, I would think this is a violation of an MLS rule that says we CO-OP! We have Weichert here, and currently have a buyer U/C with them. My previous broker is the relocation direction for the Denver office. So sad for your buyers, that is very poor business, and wonder if the sellers know this information?

Jun 11, 2013 12:48 AM

Juli Vosmik

Dominion Fine Properties - Scottsdale, AZ

Scottsdale/Cave Creek, AZ real estate 480-710-0739

Roy, my jaw literally dropped at this blog. Unfortunately, it's rampant in our market with many agents not even opening it up to their own offices. Then,for the agent to call you and suggest you give up your client - now THAT's over the line, in my opinion. I hope that agent takes this further.

Jun 11, 2013 01:16 AM

Roy Kelley

Retired - Gaithersburg, MD

Thank your very much for your comments. This is an excellent topic for discussion in real estate offices.

Jun 11, 2013 01:35 AM

Roy Kelley

Retired - Gaithersburg, MD

Thanks to Lenn Harley for reblogging this post. She has also received a number of comments.

Jun 11, 2013 01:38 AM

Than Maynard

Coldwell Banker Heart of Oklahoma - Purcell, OK

Broker - Licensed to List & Sell - 405-990-8862

Definitely not working in the best interest of the clients. I would write the offer and present it the listing agent and demand/request to be at the offer presentation.

In Oklahoma the offering agent has the right to be at the offer presentation. They may or may not be allowed to provide input, but at least you can find out if the offer is presented fairly or presented at all.

Jun 11, 2013 02:33 AM

Michelle Gibson

Hansen Real Estate Group Inc. - Wellington, FL

REALTOR

Roy - I agree, holding a listing is not beneficial to the seller especially when a lot of home buyers are loyal to THEIR agent and won't use another one.

Jun 11, 2013 03:06 AM

Debbie Walsh

SHAHAR Management - Middletown, NY

Hudson Valley NY Real Estate 845.283-3036

Suggested. I think this is an excellent topic. I have seen this before and I believe the sellers ARE NOT ALWAYS AWARE when this happens and I think it is UNACCEPTABLE.

Jun 11, 2013 04:51 AM

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Roy, That is a terrible practice and does not benefit the seller one bit. I would avoid agents like that at all costs.

Jun 11, 2013 06:29 AM

Roy Kelley

Retired - Gaithersburg, MD

This is a lively topic for discussion. What better way could you have other agents avoiding the company listings? I hope that all of their home sellers learn about this very negative management policy.

Jun 11, 2013 07:21 AM

Gerard Gilbers

Higher Authority Markeing - Asheboro, NC

Your Marketing Master

Since their agents are Realtors, it is my understanding that the listing must be published in the MLS within 72 hours. The fact that they are after your buyers to add to their stable stinks to say the least if it is not illegal based on the way they are doing it.

Jun 11, 2013 01:36 PM

Back to Top