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Realtor Questions

Who is a realtor?

A realtor is a person that acts as a middle person between sellers and buyers of real estate property. A realtor tries to find those who want to sell and those who want to buy.

If I have an agreement with a realtor to sell my property but I end up selling to somebody I know that had no contract with the broker, am I required to pay a fee to the realtor? < /h2> You signed a listing with the realtor which will require you to pay the commission to the realtor unless you specifically excluded this person from the agreement specifically. Given that there was no co-broker to be paid, it is likely that the realtor would agree that the co-fee is not payable, but you would still owe the primary commission from your listing agreement.

Can a realtor post a for sale sign on a home before it is listed? There is no listing agreement and the home is not listed on MLS, realtor website or anywhere else online.

An owner of a property does not have to list the property anywhere to legally put up a for sale sign in front of their house. As long as the sign does not interfere with your rights as a tenant to have quiet enjoyment of the property then there is nothing illegal about the for sale sign. If you have a written lease agreement, the landlord can sell the house subject to the lease agreement.

Can an individual be the realtor, mortgage loan originator and homeowner’s insurance agent for a single real estate transaction?

Realtor responsibilities would include providing an agreement between the realtor and the seller or buyer. Therein the mortgage loan originator and homeowner’s insurance agent would also have to have an agreement with that individual. So If as all three of those separate agreements are presented and signed then there is no reason why you could not provide all of the services. There are no laws denying the bundling of services.

If you are a realtor and listed a property, can you bid on the property you listed? What is the realtor laws concerning this?

You can bid on it only with a full disclosure and consent from the seller. Without the full disclosure and consent it would be a conflict of interest and the seller could have legal grounds for breach of fiduciary duty.

If you have a verbal agreement through a realtor to sell your house but have not signed anything, can you change your mind?

A verbal agreement with a realtor to act as your listing agent is not valid until both you and the realtor have a signed agreement. Additionally a verbal agreement with your realtor regarding an offer on your home is also not valid until the agreement is in writing and accepted by you in writing with your signature.

Having the right information and understanding of realtor law can help when dealing with questions regarding your realty concerns. Experts can help answer questions about realtor law or realtor problems. Get the answers fast and affordably by asking an Expert online.

Ask a Real Estate Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 5366
Experience:  17 years of legal experience including real estate law.
4460311
Type Your Real Estate Law Question Here...
characters left:
Real Estate Lawyers are Online Now

How JustAnswer Works:

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    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Real Estate Lawyers are online & ready to help you now

Tina
Lawyer
Satisfied Customers: 4813
16 years of legal experience including real estate law.
Law Pro
Lawyer
Satisfied Customers: 6227
20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
Barrister
Lawyer
Satisfied Customers: 4966
13 years real estate, Realtor. Landlord 24+ years

Recent Realtor Questions

  • We are renting a townhouse. The owners ended up in debt and

    We are renting a townhouse. The owners ended up in debt and the place was foreclosed and sold. Soon after that we had a visit from a realtor who said that he represents the new owners, a bank. He said to sit tight and wait for them to contact us. That was on October 3 and now it is November 23--still no news from the new owners. We got our deposit back from the old management company, as we said that since our old contract is no longer valid, we wanted our deposit (we were afraid that we might lose it).
    My questions are:
    1. Should we just sit and wait for the new owners to contact us? Right now we have been here for over a month with no contract.
    2. If the new owners contact us next week and offer us a new contract, do we have to pay them for the time that we have already spent here without a contract? Or if they backdate it to 1 November do we have to sign that and pay for November?
    3. It strikes me that we are currently living here without any contract, so the fridge, washer, dryer, heating, etc , all of which came with the house (are not ours)--if any of them break what do we do?
    4. What are our rights and what obligations do we have as tenants?
    We live in the state of Virginia, and have been living in this house since August 2013. We signed another one year contract in August of this year.
    Thank you.
  • We have been wrapped up in a legal issue on our home for over

    We have been wrapped up in a legal issue on our home for over 2 yrs. Long story short we sold a house to a lady back in 2012. We did the contract ourselves and had a purchase agreement. She moved in early (we sort of knew her she always rented the vacation home for between $200-$275 per night). She moved in before her 2 installments of $50,000 each were met..She started selling off our furniture to the home, Hot Tub, Log bed, Refrigerator and washer & dryer. She ever could only make $25,000 of her 1st $50,000 pmt. Months went by as we watched in horror as our beautiful vacation home rental appliances and furniture disappeared...We heard excuse after excuse.."The money's coming it'll be there tues, I fell off the dock and hit my head and had a concussion I've been in the hospital, I had to fly to las vegas my daughter won a poker tournament, My neighbor shot his wife..I haven't gotten paid for my fish yet, etc".. I could go on and on...We finally went to the police on how we should move her out..The police told us he can't help us until we take our house back..We got a lawyer who furnished us with a paper saying she had 30 days to comply with the agreement and come to terms with her money OR Move out by Aug 30th 2012. We went to move her out OR get the money on Aug 30th or bring her boxes to move out. She PROMISED again she had the money and would put it in our act by next Tues (that day was thurs) but she said it should clear by tues and be in our account. We told her if it wasn't there continue to use those boxes and move out. Tues came and went my husband drove down there and moved her out and sent her a text telling her that her things were out on the patio. It wasn't much just clothing..So she ended up breaking back into our house and stealing a lot more of our stuff like anything she could get her hands on. For a period of 3 weeks she broke in 3 times.. The police wouldn't do anything about it cuz they said it was civil..So the crazy lady got an attorney and filed a LIS PENDENS on our house a house she never bought..And filed a suit that she wanted "Specific Performance, Abuse of Process, Wrongful eviction, negligent infliction of emotion distress, Breech of Contract.. she also she wrote a list 5 pages long ( it was like a wishlist) she said she owned that we stole..And all she really had there was clothing. We also filed a countersuit on her Claiming Specific Performance and Breech of Contract, Theft, amongst others...2 years later we won all counts in court it was a superior court..She lost everything she claimed...Our superior court judge did NOT do her duty and fill in the blanks when the jury came back with that SHE was guilty of inflicting emotion distress on us, and how much $$ did they wanna give us..was blank. We had to petition the Judge to do her job and fill in the bank, which took another 5 months..Finally she gave us lawyer fee's of $14,000. We paid our lawyer $45,000. So here's the kicker.......We've been bundled up in Alaska trying to resolve this lawsuit and TRYING to move to Montana. We are totally packed. We only needed to sell the house the one that was in the suit for 2 years...We finally sold it in Oct 2014. We had a inspection due to happen early in Nov 1st week. The day of the inspection we got a call from our realtor and he said there's another Lis Pendens on your house!!!!! Now our deal feel through because who wants to buy a house with a clouded title?? Its the same crazy lady again AND she finally found some stupid lawyer to Appeal her case to the SUPREME COURT. This crazy lady never paid her last lawyer and effectually dropped off her case, in court the crazy lady defended herself pro-se...now here's my question..do we have to go through all of this again and why do we have to pay for this? When the superior court judge dropped the Lis Pendens she said to us, this should of never been on your house in the first place, the title was never in question. And I hope you can get on with your lives, this has taken a lot out of your life. But now Crazy got a lawyer who didn't review her case, didn't look at a file, and took her at her word ( and she lied constantly under oath you wouldn't believe how bad!) And this lawyer without seeing the details of our case just filed ANOTHER Lis Pendens and an appeal ( which we don't care about as much as we are shackled by another BOGUS Lis Pendens!! Please Please please we need HELP up here in Alaska!!
    Toni & Charlie
  • I own a townhouse in Dallas, Tx. My house is one of 5 connected

    I own a townhouse in Dallas, Tx. My house is one of 5 connected units on one common slab foundation. While doing some plumbing repairs I had a structural engineer do an inspection and evaluation of my foundation. He found some issues along a common wall with my adjoining neighbor. I have told my neighbor that we plan to install 3 steel piers beneath the foundation along the common wall, but have not asked for her consent or for a release of liability. Is there any provision in Texas law that addresses this issue? Would I have any liability if my foundation work creates problems on her side of the common wall?
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