I was contacted by an executor to sale a property for and estate. We executed a listing agreement and I started marketing. Meanwhile I was contacted by a local real estate agent informing me that she had listed the property with the person who inherited the property a week earlier.
Who has the right to the listing?
After a meeting between the my broker and office manager and a call from the lawyer handling the estate it was determined that I was that should void my listing agreement since the other agent was making a huge fuss including threats to file ethical complaints. The executor disagreed with the decision and I said I would see if it was a well thought out decision. So I called the PAR legal hot-line. After consultation it was determined that it was the executors place to sale the property to settle the estate and the proceeds are then distributed to the heirs. In this case the heirs didn't have enough assets to pay the taxes on the property they inherited. I had the legal Listing agreement.
My next post is on the same property. Two contracts one lazy seller representative one upset buyer and a one week closing.