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Sign-Crossing, One Interpretation
Today on Active Rain there was a question about "Sign Crossing" and what exactly it is? Here's one interpretation (mine, of course).
A real estate broker (or agent, associate, salesperson, etc., as per local naming conventions) cannot approach - with the intent to enter into a new contract - a seller/landlord or buyer/tenant who is already in an exclusive contract with another broker. To do so, or to attempt to do so, is considered sign-crossing.
If the seller/landlord or buyer/tenant initiates contact with another broker, the parties can enter into a new contract as long as it has a start date after the end date of the currently valid exclusive contract. To have overlapping dates is considered sign-crossing.
The sign-crossing concept might be covered on multiple levels, depending on the state, the broker's affiliations, and contract law.
My state, COLORADO, for instance, defines sign-crossing in the Division of Real Estate Rules Regarding Real Estate Brokers, Rule E-13 , and clarifies it in CP-3 Commission Statement Concerning Commission Rule E-13.
The National Association of REALTORs® defines this in the Code of Ethics and Standards of Practice, article 16.
NOTE: NAR also provides an exception case wherein if the broker with the current exclusive contract is contacted by a REALTOR® and refuses to provide the ... more
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