Indiana REALTOR real estate MLS Question regarding exclusions -?
Just wondering, our realtor (we like him, we really do) told us that the exclusion list that we provide him with – names of just a few people that have seen the house ‘by owner’ and are somewhat interest, is ony good for 7 or 10 days (he couldn’t remember whether it was 7 or 10). That means that these people need to make a contract on our home within seven to ten days of our signing up with him otherwise we have to pay him a commission. I have never heard this before – it seems a bit unfair because it often takes people more than 7-10 days to decide about a home yet we brought them in by owner and he would get a commission is they go past that time. Does anyone know about this ‘rule’ and is it really true??? We are in IN.
Thanks!
There is no rule. The timeframe is negotiable (maybe his broker has an office policy?).
Tell him that the exclusion is for the duration of the listing agreement.
March 4th, 2010 at 8:38 pm
There is no rule. The timeframe is negotiable (maybe his broker has an office policy?).
Tell him that the exclusion is for the duration of the listing agreement.
References :
RE Broker
March 4th, 2010 at 9:18 pm
The time frame for exclusions is negotiable, I have seen some exclusions that apply for the duration of the listing.
Typical for my area: 30 days.
References :
Oregon Realtor
March 4th, 2010 at 9:26 pm
The time frame on exclusions, while not applying in my area, may benefit you. It will motivate any of those past interested parties to make an offer.
Make sure to follow up with them if you have their names and phone numbers.
References :