By: Serena Anderson, Billings Real Estate Broker
Have you ever wondered if the other agent really did present your offer?
You are not alone. It has always been against the Code of Ethic to not present the offer and there has been the section in the buy sell that allows for the seller to counter or reject the buy sell but what has changed is that finally agents can have disciplinary action taken if they are found to not be able to supply this proof that the offer was in fact presented and was rejected by the seller.
Why is this such a big deal that the National Association of Realtors re-visit this?
Its because an agent could be sneaky before and just kinda ignore the request for the proof and nothing really happened from there. Allowing this grey area for sellers agents to just present the offers they want that benefits them the most which doesn’t protect the consumers which is what the NAR is most concerned with!
Tell me if you have ever had a situation like this?
I was just in a conversation about this topic in Las Vegas, a gentleman who is in real estate and he said this is much more common then most people realize, all around the country. Many times the sellers agent will have a deal with the seller to reduce the commission if the sellers agent sells the house giving the seller more reason to play into the scam as well. It is against the Code of Ethics and I am so very happy there is more action that can be taken for people who are abusing this grey area.
In Billings, MT it is required that an * be put next to the SOC on the MLS form to indicate there is a special back-end deal with the sellers agent.
This is the reason why having the Realtor Associations apart of the real estate industry is helpful and attempts to keep the real estate playing field as even and quality as possible for all.
We support this and look forward to continue to provide more real estate news as it comes out.
National Association of Realtors article here
We do classes and would love to have you join us!
So many times people who have never sold a home or have not sold a home in a number of years could use some helpful guidance. Our main goal is to educate others so that they can have success. There are many obstacles that can come up and by understanding some of them you can plan or prepare so its less of am emotional impact.
We are pleased to offer this class by webinar, making it easy for you to jump on whereever you are. Not needing to get in your car and drive someone and park and then drive home. So please go ahead and take a look and sign up!
Check out our page with the next upcoming class!
We also have a local Billings Real Estate Group that we run with over 1400 members…
We would love to have you join our real estate group if you would like to see listings, real estate tips and insider info about the real estate market in Billings Montana.
Here is the link to the real estate facebook group: https://www.facebook.com/groups/537312559731019/