Okay, let me get this right...WE list this and YOU service it??? Say...what? and add a double dose of ...huh? Can't touch this!
This happened a few days ago and we still haven't gotten the hairs to lay down on the backs of our necks. We received an email from a good real estate buddy four counties and 65-70 miles away. "I've referred you to someone in our office for a co-list". This was the sum total of the email. I wrote back and thanked him for the volume of information and expressed our wishes that it be either a useless vacant lot, an over-priced house or a disagreeable seller. "LOL" he responds.
In my heart I know this buddy did not know the terms of the referral. A short time later we received an email from the co-listing wannabe. "Give me a call when you have five minutes". Okay, let's see what he has to say.
"Good morning young lady, how are we today", croons this man I've never met....and the hairs began to rise. But, hey...I'm an open minded benefit of the doubt giving kind of young lady, girl, chick, babe! "Fine", I say with an easy smile and gritted teeth.
A little side note (I can do that, this is MY post). As I've matured I've learned to quell my feminist knee jerk reaction to stuff like this from men half my age...usually.
Okay, back on topic. "I've had a listing in Sylva for six months and I'd like to co-list it with you so it can have a presence in the local MLS", he said. "Here's the deal, the seller is probably going to have to take a short sale and he's really hard to get along with". "Goody", I say to him. "Our favorite kind of listing".
"You won't have to do a thing and we'll split the commission 50/50". Well, I bruised my chin when it dropped on the desk! "You'll never have to talk to him". Huh???? Wh...wh...what!!?? "Yeah, he's pretty bitter and angry. I'll take care of all communications. If an Offer comes in - I'll present it and handle all negotiations". Huh???? Wh...Wh...what!!?? Puhleeze and give me a break.
What about the part in the Listing Agreement where our agency agrees to Fiduciary Duties to the Client? What do you mean, all we have to do is put it in MLS and there will be a 50/50 split? What about the part in the Listing Agreement where our agency agrees to promote and market the property? And fielding & referring the calls from other brokers - people we know and relationships we've cultivated? What do you mean you'll negotiate offers that occur from OUR efforts? Or the calls from consumers who saw OUR marketing and could have been turned into quality prospects for LOCAL property? That's worth far more than giving up half of the listing side on a LOCAL listing! Referral fees ARE negotiable and there has never been one worth more than 25% to us.
Leslie and I had already decided to turn down this offer to co-list but before I had a chance to reply to the agent, we had scheduled a Continuing Ed course in Asheville on Short Sales and Foreclosures with Bill Trull at Cumbie and Trull. www.cumbieandtrull.com We love taking our classes from Bill Trull. His background as an attorney, accountant and real estate agent helps give the best well rounded perspective on all the subjects. Leslie and I both always love getting confirmation on what we instinctively know to be the right answer. Of course, he agreed with our take on this episode.
Can't wait to read your responses on this. But our unwavering decision is a loud, resounding CAN'T TOUCH THIS!!!