Brain cramp, help please.

[DTB]

I have a real estate agent interested in buying one of my properties. We have agreed on the broad strokes and he wishes to have the price higher and be paid a commission. No prob.

My problem is that I can't for the life of me recall the type of listing that was used for a specific singular buyer or in the case the agent himself being the buyer.

He sent over a conventional listing agreement where I would have to strike out 90% of it-LOL

HELLLLP Please

 

[Meandering]

pocket listing

 

[DTB]

pocket listing

That's what I was thinking but don't remember the verbiage restrictions to it. DOH!

 

[DTB]

While waiting for attorney's reply, should I forego the listing and just work the commission into the sales K? Maybe the lender wouldn't care for that?

 

[Meandering]

You can sell the property for any price, don't you disclose every agent's commission? Makes no difference if the buyer's agent is also the buyer.

 

[DTB]

You can sell the property for any price, don't you disclose every agent's commission? Makes no difference if the buyer's agent is also the buyer.

Of course that's all true. My issue is that I only want the listing to pertain to him, not a general listing allowing him to place it in MLS for instance or a sign etc.

 

[KHS445]

I believe you are referring to a private one-party listing. It can be written up several ways, but generally the terms and conditions will cover the normal things like listing price, terms and conditions that are acceptable, a specific termination date, state the name of one and only purchaser to whom the listing applies, address the transferability of the purchase agreement, MLS publication, etc. Then a traditional sales agreement could be used to cover the transfer type items.

 

[DTB]

I believe you are referring to a private one-party listing. It can be written up several ways, but generally the terms and conditions will cover the normal things like listing price, terms and conditions that are acceptable, a specific termination date, state the name of one and only purchaser to whom the listing applies, address the transferability of the purchase agreement, MLS publication, etc. Then a traditional sales agreement could be used to cover the transfer type items.

BINGO!!

Thank you so much, my memory is fading on some things and it gets very frustrating.

That is exactly what I was looking for, you saved the day!