Question: I told my real estate agent that I wanted $120,000 for my house. He offered to sell it if he could keep anything OVER that amount as his commission. What do you think?
Answer: If an agent proposes to guarantee you a certain sum from the sale of your home in return for the chance to keep anything OVER that amount, you have been offered a “net listing”. This arrangement is open to so much abuse that it is illegal in about half of the states, including Iowa. Any number of complications can arise. The AGENT’s interests are now paramount although the law requires that you, the client, must come first. If you find yourself in this situation… RUN!
Let us know your questions so that we can include them in future Weekly Updates: team@bockrealestate.com
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