Ask Elliott 54

Posted on May 31, 2013

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Ask Elliott 53: Can I write contract on a four family?

Posted on December 16, 2011

Elliott, another agent and I wrote a contract for a four family home. Both the buyer and seller were at the table, both signed the contract and both took a copy home with them. I got a call from one attorney who said, as agents, we could not write a contract for four family and [...]

Ask Elliott 52: Get a Referral Fee from Insurance Company?

Posted on May 26, 2011

Insurance Broker in a post card mailing says: “Bind Coverage Immediately! R.E. Agent receives $25 referral fee! Max allowable by Current Insurance Law Priority status for your clients quotes” [...]

Ask Elliott 51: Advertising Phone Numbers

Posted on May 24, 2011

I would appreciate clarification on advertised office phone numbers. Here is my take on office phone numbers and advertising. Am I understanding this phone number advertising criteria correctly? The only numbers that can be advertised on signs and in ads are phone numbers owned and paid for by the broker. When a customer calls one [...]

Ask Elliott 50: Who is the “Procuring Cause”?

Posted on May 17, 2011

The situation is that a listing agent introduced a property to a client at an open house they were holding. The listing agent has a substantial email trail proving that they introduced the property to the client and had built and maintained a relationship with the client. This relationship went on for some time and [...]

Ask Elliott 49: Customer Lists with 2 Brokers

Posted on May 17, 2011

If a customer cheats (he has a listing with 2 realtors), the listing sells to a buyer represented by another agent, refuses to pay the listing commission to me, we sue in Court and we win. Can the agency legally take out the outside counsel legal fees from the commission before it splits it. I [...]

Ask Elliott 48: Sign or MLS first?

Posted on April 8, 2011

If I have a signed listing agreement in my hand but I have not put the property in the MLS yet can I put a sign on the prop? I had a draft in the MLS went to the property to get agreement signed and put the sign up before I left I was told [...]

Ask Elliott 47: Calculating referral fees

Posted on January 10, 2011

I think you would know the answer to this question. When a referral fee is calculated, it is taken off the full commission of either the seller’s or lister’s end, not just the agents portion, right? Please clear this up for us. Hope everything is good with you. Thanks. [...]

Ask Elliott 46: Who can sue for commission?

Posted on January 10, 2011

I represent a buyer who was already out of attorney review and the seller’s attorney has tried to void our contract and accept a contract for another buyer. In addition he has deposited our deposit monies of $19,000 into his trust account. My buyer has initiated suit claiming specific performance against the sellers and has [...]

Ask Elliott #45: Seller wants to cancel listing agreement

Posted on January 10, 2011

I have a relative you listed their home with a Realtor up north. They are VERY unhappy with them and want out. Since I went to school YEARS ago I learned that a listing agreement is an agreement not a contract and can be canceled by the seller at any time. I think they had [...]