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LOCATION  LOCATION  LOCATION

This home is situation minutes from the Beach, 4 Golf Courses, County Parks and major shopping. It is in a development of homes with large lots. 4 bedrooms and 2 1/2 baths, 2274 square feet of living space and a 3 car garage. Gated courtyard entry. Skylights, Florentine Tile and Hard Wood Floors. Wooden Shutters and a MB retreat. Open House every weekend 12 – 4pm or bring your realtor anytime.

All offers will be considered. List price set based on recent sales in the development and reasonable growth in Market Value.

Owner wants this sold. Already bought another home.

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This Blog is about a real situation that I am aware is ongoing at this time.

Two agents working at the same Brokerage are scheduled to be at the front office of the Brokerage to be available to answer phones and help anyone who walks in the office. This is a typical situation that has occurred in the past. It is verbally agreed that any sales or listings that come out of it, the commission would be split 50/50. This is common and has been done repeatedly over the years. The two agents are at different stages in their work experience. One agent has twice as many years of experience as the other. They are also friends.

A customer walks into the office and wants his property listed for sale. The listing is taken. A listing agreement is signed and put on the MLS. This is also very common. The less experienced agent, we will call LEA, takes the advice of the more experienced agent, MEA, that the listing agreement does not need to be signed by both agents.

Months go by and the agents work together to post signage and advertise the listing. They even make long trips to the property together to make sure they understand the environment that the property is in.

LEA decides to leave the Brokerage and join a new firm. At the exit interview, the Broker notifies LEA that the listing can be kept but it will be under the original Brokerage. There were other listings that were in the same situation. LEA has no problems with this because him/her  just wants the listings sold. It will happen that the other listings go into escrow and the commission is paid as expected.

When LEA leaves he realizes that MEA has not shown him as the co-listing agent on the MLS. He notifies MEA that he needs to correct the situation and MEA agrees in writing via email that it will happen right away. The property gets close to expiring on the original listing and the two agents have discussions that they should get the listing extended.

LEA, not hearing from MEA for some time communicates to him/her “if they still have a listing”. MEA replies that “yes we still have a listing” and that it is now in Escrow. Along with hearing that, LEA also was notified by MEA that the Brokerage has dropped him as the co-listing agent and his 50% commission split was changed to a referral commission of 15%. The differences in commission for LEA is several thousand dollars. The original Brokerage cites a policy document that they believe allow them to change the commission. A legal opinion from the Brokerage where LEA now works say that there is a contract between two different brokerages and the policy document does not apply. Therefore, the commission should be split 50/50.

Further discovery reveals that MEA never put LEA on the listing agreement as they agreed and also never added LEA to the MLS listing as him/her agreed.

What does everyone say about this situation? Is LEA entitled to the original 50/50 commission split? Is there a contract, albeit verbal between the agents and/or the Brokerages?

What do you think?

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http://wp.me/pSPXb-ke

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This Blog is about a real situation that I am aware is ongoing at this time.

Two agents working at the same Brokerage are scheduled to be at the front office of the Brokerage to be available to answer phones and help anyone who walks in the office. This is a typical situation that has occurred in the past. It is verbally agreed that any sales or listings that come out of it, the commission would be split 50/50. This is common and has been done repeatedly over the years. The two agents are at different stages in their work experience. One agent has twice as many years of experience as the other. They are also friends. 

A customer walks into the office and wants his property listed for sale. The listing is taken. A listing agreement is signed and put on the MLS. This is also very common. The less experienced agent, we will call LEA, takes the advice of the more experienced agent, MEA, that the listing agreement does not need to be signed by both agents.

Months go by and the agents work together to post signage and advertise the listing. They even make long trips to the property together to make sure they understand the environment that the property is in.

LEA decides to leave the Brokerage and join a new firm. At the exit interview, the Broker notifies LEA that the listing can be kept but it will be under the original Brokerage. There were other listings that were in the same situation. LEA has no problems with this because him/her  just wants the listings sold. It will happen that the other listings go into escrow and the commission is paid as expected.

When LEA leaves he realizes that MEA has not shown him as the co-listing agent on the MLS. He notifies MEA that he needs to correct the situation and MEA agrees in writing via email that it will happen right away. The property gets close to expiring on the original listing and the two agents have discussions that they should get the listing extended.

LEA, not hearing from MEA for some time communicates to him/her “if they still have a listing”. MEA replies that “yes we still have a listing” and that it is now in Escrow. Along with hearing that, LEA also was notified by MEA that the Brokerage has dropped him as the co-listing agent and his 50% commission split was changed to a referral commission of 15%. The differences in commission for LEA is several thousand dollars. The original Brokerage cites a policy document that they believe allow them to change the commission. A legal opinion from the Brokerage where LEA now works say that there is a contract between two different brokerages and the policy document does not apply. Therefore, the commission should be split 50/50.

Further discovery reveals that MEA never put LEA on the listing agreement as they agreed and also never added LEA to the MLS listing as him/her agreed.

What does everyone say about this situation? Is LEA entitled to the original 50/50 commission split? Is there a contract, albeit verbal between the agents and/or the Brokerages?

What do you think?

 

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0 Forrest Gate Rd, Campo

$599,000

Great property is close to the town of Campo, schools and shopping. Paved road to 1 mile from property, then 3/4 of a mile of gravel road. Then only approx. 1/4 mile of dirt road to property. This beautiful property is at the trail head of the famous Pacific Trail. Wide open spaces, great for horses or any farm animals. The town of Campo has a GREAT home cooking Diner with fantastic food. Frontage on the main graded gravel/dirt road of Forrest Gate road. Plenty of room for the home or gentlemen ranch of your dreams.

  • JUST REDUCED $100,000
  • PROPERTY IS EAST OF SAN DIEGO
  • FREEWAY ALL THE WAY TO CAMPO

More information

CLICK ON PICTURE FOR MORE INFORMATION ON THIS AND OTHER LAND

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Take your wife to the Beach and visit this Open HouseLocation – Location – Location
93 Avenida Descanso, Oceanside CA

Open House Saturdays and Sunday 12 to 4:30pm

6-10 minutes from beach, beautiful tile entryway, quartz countertops, wood floors throughout, skylights, 4 golf courses within 5 miles, large shopping areas close by, shutters, courtyard, very large backyard

Click on picture for more information or:

http://homesite.obeo.com/845682.
http://www.fredjgardner.com

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Location - Location - Location6-10 minutes from the Beach – 4 golf courses within 5 miles – shopping areas close – 4 Bedrooms – 3 Bathrooms – Quartz counters – Wood Shutters – Wood Floors – Courtyard Entry – Skylights – 9500 sqft lot

Click on picture to view more information or click http://www.fredjgardner.com and go to Featured Properties.

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