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Additional Details
well, they are pretty rich...
and we are pretty poor so it seems fair.
or am i crazy? why dont they offer??... |
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cause our manager is saying you should not put satellite dish in the apartment.
but were not putting is on the roof we are putting in the backyard
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but it's ... |
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I have no contract.... |
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 Is there anyway i can get a council house? |
Hi,
im 31, am british and have been paying tax all my life. I have no savings and have around £300 disposable income every month. It will take me about 10 years to save a deposit and even ... |
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 My landlord said i have to get my deposit from my old landlord..? |
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Sally4444 | How does a real estate agent sell their own house? Isn't there a conflict of interest since it's their house? |
Additional Details
This is in California. Are there different laws in different states regarding this? Seems like I'm getting mixed answers.
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♪ Pamela ♫
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Lol, not a conflict of interest but definitely an advantage. ☼ |
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Helios
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No conflict of interest - the agent just lists his place and then he recovers his part of the real estate fee when the house sells. |
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Doctor Deth
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not a conflict - they save 1/4 of the selling commission doing it that way |
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J. Philip Real Estate
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There is no conflict of interest in the eyes of the law, but licensees in my home state of NY are required to disclose to the other side that they are a licensee whenever they buy or sell property.
Agents should also avoid "self dealing," which would be to buy one of their own listings and collect a commission. |
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sheila_0123
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First they acquire property to sale...i.e. buy a house and an acre. Then they list the property... any real estate agent in their state may find a buyer ready, willing, and able to make an offer... if the real estate agent owns the real estate company ... and the property ... they receive the listing percentage and the selling agent receives their share of the percentage. However, if the agent does not own the real estate company, a percentage of the listing percentage goes to the company and the remainder to the agent/owner... If the agent lists and sells the property, they get a larger percentage...and if they own the company... full proceeds. Although it is rare, it does sometimes occur. The reason that it is not a conflict of interest is because the industry is one that bases it's interest in investment in property. They do have ethical standards that must be maintained...in other words, they do have to show other properties...not just their own AND they must continue to show no preferential treatment to their own property.
Real estate is a great way to invest a small amount of time and money into a growing and rewarding career field. If you know enough people with property who want to grow instead of growing roots, it can be quite lucrative. Community Colleges often offer courses...there are state tests in skills and proficiencies for each state with reciprocacy (one may move and test for licensure in another state). State laws vary greatly so it is important to know what rules are applicable in each state.
Most real estate agents belong to area Real Estate organizations...if you feel that their is an impropriety...contact the Real Estate Board in your state. Sometimes listed under Commerce and Insurance Department...and just tell they what happened. If the agent is in err, they could face fines, suspension of license, or other discipline deemed appropriate by the governing agency. They often carry Errors and Omissions insurance in the event that they err in description of property or other inadvertent error while attempting to sale a property.
See links below for more information. |
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Ron
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Anyone can sell their own house, and no,there is no conflict of interest, he is simply selling his house, and not have to pay fees, as he can represent himself as the seller's Realtor, and he also can represent the buyer, which actually makes the sale a good one, as it has to go through escrow, so I see no conflict. |
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musicimprovedme
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I don't know about the ethics, but if that was an issue, then they would probably just enlist the help of a colleage, someone they work with.
It may be a sales pitch but they would still have to have the house inspected, appraised, etc. All that is done by someone else, so just before the realtor gets their hands on it, the info is somewhat factual. A realtor could theoretically trump up the sales pitch on any home if they want that commission badly enough. |
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godged
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In my state, the beautiful state of Oregon, a licensed RE broker must clearly state in all advertising that the seller is a licensed OR RE broker.
Some agents sell their own home, some task other brokers to sell their home - it all depends on the Realtor.
There is no conflict of interest here, but if I were selling my own house, I sure wouldn't represent both sides of the transaction. By declaring your designation, you are alleviated of any "conflict of interest" litigation, as the buyer was fully aware that the seller had a vested interest. |
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Gabfest
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No because in most cases realtors represent sellers unless they have signed a"buyers agent agreement". |
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Rush is a band
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In most states, since the realtor is paid by the seller, the realtor works for the seller. In this case there is absolutely no conflict of interest.
The conflict of interest could occur if you signed with a buyer's agent (agrees to represent your interests and your interests only) and then they show you a house listed (or in this case owned) by them. In this case they represent both the buyer and the seller and there can be conflict's of interest which is why most real estate agents and companies are very reluctant to do this and if they do this, they are very careful to disclose that they have interests that go both ways.
If you have a buyer's agent and you are looking at a house being sold by a realtor (their own house), then there is no conflict of interest.
good luck! |
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Jäger
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In PA, the agent only needs to clearly state that "The owner is a licensed real estate agent". |
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krystol_trice
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A real estate agent can sell his/her own house. However, if their license is active and wants to sell their own house, they must post on their sign "For Sale by Owner/Agent". The agent is obligated to disclose their interest in the property. Otherwise, the agent can hire another agent to sell for them. |
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iltmaemc
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ANOTHER AGENT IN HIS/HER OFFICE WILL LIST IT
IT IS ACTUALLY AN E&O ERRORS AND OMMISSIONS INSURANCE REGULATION.
sorry for the caps |
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Arwen
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I suppose they could do a "For Sale By Owner" and save the commission they would have to pay a Real Estate Agent going through a Real Estate Company. The only thing they have to do is disclose to the prospective buyer that they are a Real Estate Agent. |
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Marcus T
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They can have another agent sell the house. |
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Cornelius
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they dont sell their own house. they get another one just like everyone else. |
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