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Risks and Responsibilities for Designated REALTORS®

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Panelist

Jody OBrienABR, GRI, ITI, SFR, REO, SRS

Peter WestABR, AHWD, CRS,

GRI, SRES, SFR

In the Beginning

• Who are you?• What forms do you need to use?• What forms should you use?• What happens if….?

Mary has just driven by your new listing and she is very excited. It is exactly what she is looking for. When she calls the office she finds out you are in. She will be right over.

Bob is standing in front of the office drooling over the Broker Owners new listing in the window display. You go out side and comment, “It is a beauty! Do you want some more info?” Bob shakes his head and follows you in.

You have just met Sally Seller at her home for a listing consultation.

Everything you tell her about your company, yourself and your marketing plan leads Sally to believe you are representing her.

During this conversation, Sally divulges her reason for selling – a dramatic change in life plans and the need to move very quickly –realizing she may not get the highest return.

Sally winds up giving the listing to XYZ Realty.

You show the home a week later to a new buyer client to whom you reveal Sally’s plans.

Buyers Tom and Cindy Smith have been referred to you by a past client. They are looking for a vacation house in your area. You have called them and they have told you they have already found the house they want and they have seen it on an open house.

They are cash buyers for an amount up to $4,250,000They would like to be lake front They are in no rush They want that house!

The listing expires after your offer was rejected.

And Then There Were Two

• Who are you?• What forms do you need to use?• What forms should you use?• What happens if….?

Jody has been a client of yours for years. You have just listed her house. As you are standing in the kitchen at the first open house you realize this is perfect for the West’s , your buyer client you have been searching for a home for two months.

Sandy walks in to the open house …loves it and wants to make an offer. She is not working with anyone, she prefers to deal with the listing agent.

I want to get paid!

• Who has to pay you?• Who can pay you?• Who can you ask for payment?• What happens if….?

Sue and Dan are your buyer clients. They signed an Exclusive Right to Represent last month with you when you started working together. Your contract states you will get paid 12 Pesos. They have narrowed the search to three homes. The cooperating fee on each property is

Main Street - 12 PesosElm Street – 8 PesosSycamore Lane – 14 Pesos

Jody O’BrienThe RE/Education Company

Committed to Professionalism in Real Estate through Education

Peter WestThe Bishop West Team

Presentationwww.slideshare.net/ReEducationCompany

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