3,416,038
Because the seller loses out. they can say they want 200k and the agent keeps everything above, they may not know the home is worth 300k, may have been told the wrong answer or not told at all.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
-
Dennis Swartz
Columbus, OH
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Romylio "Romeo" Cordob...
New Smyrna Beach, FL
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Daniel Lloyd
Holladay, UT
-
Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
5,583,278
net listings should be illegal everywhere..... net listings are to the advantage of the agent and only the agent.... the seller could say they want a net of X amount of dollars and the agent knows it's worth more a significant amount of money.... the seller only gets what the seller wants as a net and the agent takes the rest of it.... agent wins....walks away with the sellers' equity...
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
-
Dennis Swartz
Columbus, OH
-
Romylio "Romeo" Cordob...
New Smyrna Beach, FL
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Daniel Lloyd
Holladay, UT
-
Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
900,128
They are illegal in Connecticut. Too much room for abuse.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
-
Romylio "Romeo" Cordob...
New Smyrna Beach, FL
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Daniel Lloyd
Holladay, UT
-
Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
2,781,173
If done correctly it works for all. The temptation to do incorrectly ruins it
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Bob "RealMan" Timm
Minot, ND
-
Dennis Swartz
Columbus, OH
-
Romylio "Romeo" Cordob...
New Smyrna Beach, FL
-
Daniel Lloyd
Holladay, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
4,572,183
Real estate is local. The laws vary by state.
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Bob "RealMan" Timm
Minot, ND
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Richard Weeks
Dallas, TX
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Nina Hollander, Broker
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Ron and Alexandra Seigel
Carpinteria, CA
3,345,091
Real estate is local and so are the laws. Read up on your state.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
-
Nancy Frimann
Gilroy, CA
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
5,772,575
Study your books and find out if it applies to your state. A
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Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
5,230,113
Because they're lawsuits waiting to happen?
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Bob "RealMan" Timm
Minot, ND
-
Pete Xavier
Pacific Palisades, CA
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
2,220,654
It's the law, check your state laws and rules governing this topic.
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Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
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Anthony Acosta - ALLAT...
Atlanta, GA
1,598,452
I have no idea.
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Bob "RealMan" Timm
Minot, ND
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Richard Weeks
Dallas, TX
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
2,071,025
Great answers to your question here.
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Bob "RealMan" Timm
Minot, ND
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Richard Weeks
Dallas, TX
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Valeria Mola
Sunny Isles Beach, FL
699,874
They're legal in CA and the only time I've heard it used was from another broker on a strange ranch property that was too hard to comp. I also believe they are used in the selling of timeshares.
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Bob "RealMan" Timm
Minot, ND
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Nancy Frimann
Gilroy, CA
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Gary Frimann, CRS, GRI...
Gilroy, CA
2,684,109
Real Estate Brokers could take serious financial advantage of unscrupulous sellers, especially the elderly. That's why it is illegal in Florida.
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Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
6,393,584
Does it matter why, they just are illegal everywhere.
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,239,901
In our state it is LEGAL.
Net listings are legal in California only if the commission amount is disclosed to the seller before she becomes committed to the sale.A type of listing in which the commission is any amount received from the sale over and above the "net" required by the seller."
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Bob "RealMan" Timm
Minot, ND
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Pete Xavier
Pacific Palisades, CA
921,504
I am PRO-Net Listing.
I am aware most agents are not prepared to engage real estate at this level and such transactions should be left to the PROS.
There are other benefits to a Net Listing that has little to do with price that a seller could view as beneficial.
The benefit of Net Listing is the ability to 'skip a step' and avoid the additional cost of directly acquiring or assigning the purchase. An educated seller knows exactly what to expect from the transaction and the experienced professional makes it easy.
Of course, in a dumb it down society, it has proven beneficial to limit the choices available to the consumer. That is why transactions of this 'type' are left to the real estate pros, those folks who keep what they earn by preforming exceptionally well in a competitive free market.
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Daniel Lloyd
Holladay, UT
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Pete Xavier
Pacific Palisades, CA
5,104,931
They are not in the best interests of the seller.
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Bob "RealMan" Timm
Minot, ND
-
Richard Weeks
Dallas, TX
213,263
Its to stop agents from lowballing unsuspected sellers to put commission interests above client interests.
Net listings work well in commercial or business sales where parties are more savvy.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
1,712,676
Not in my state.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
20,445
Lots of reasons, one could be the agent can take advantage and up-sale the property for a large amount, keeping the difference. I know that here in Florida they are legal but very uncommon.
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Bob "RealMan" Timm
Minot, ND
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Romylio "Romeo" Cordob...
New Smyrna Beach, FL
953,617
Outside of the real estate brokers' world, they are legal in the form of options as used by wholesalers and investors. I'm Pro-Options!
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
7,836,139
Simply follow the rules in your state and be a vocal professional if you think the rules are incorrect.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
4,434,127
1,502,998
Illegal in Cali. Because too great of a chance for people to abuse it.
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Bob "RealMan" Timm
Minot, ND
3,986,258
I don't think sellers benefit very often
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Bob "RealMan" Timm
Minot, ND
5,216,409
Oh my, let me count the ways! The exposure even if legal is not worth it!
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Bob "RealMan" Timm
Minot, ND
2,390,620
Net listings are to easy to abuse by less than above board agents.
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Pete Xavier
Pacific Palisades, CA
4,800,082
Not the best solution for the principal.
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Bob "RealMan" Timm
Minot, ND
4,882,355
Some states think it puts the interest of the agent above those of the client.
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Bob "RealMan" Timm
Minot, ND
5,868,554
4,936,705