Estate Planning USA.com

Nancy intends to sell her home. A few of her neighbors have mentioned that they know some folks who would love to buy the house. Nancy is interested in the idea of selling her house herself, but she is also concerned about her ability to effectively market the property if that does not work out .

1. What type of listing agreement, if any, should Nancy consider entering into with Ron, her broker of choice? Why?

2. Presume that Ron and Nancy enter into an open listing, Ron finds a buyer willing to buy on the precise terms of the listing agreement, yet Nancy refuses to sell. Could Nancy owe Ron any money? Why or why not?

3. Assuming Nancy doesn’t need marketing assistance, what other benefits would she receive from entering into a listing with Ron?

4. Ron’s brokerage firm only represents sellers. What is this arrangement called? Why would a brokerage firm create such a policy?

Chris is selling his home and plans to list it with his friend, Ryan, a licensed broker. Chris would also like Ryan to permit his friend Lissa to help with marketing the property.

5. If Chris enters into a listing agreement with Ryan that permits Lissa to market the property, what type of relationship is created between Lissa and Ryan? Why?

6. Assuming that Ryan belongs to an Board of Realtors MLS, does his posting the listing on the MLS service create a blanket offer of subagency to the other MLS members? Why or why not?