Liability for Listing Agents looking for Tenants
Thursday, 03 March 2011 09:57
With so many homes for sale in
I think it is important to understand what the real estate agent has been hired to do. Initially, the homeowner wants the property sold, so we have the homeowner sign a listing agreement to market and sell the property. All the legal verbiage needed to market and represent the seller in the sale of their home is included in the listing contract to protect the parties involved.
If the property has not sold within a period of time, many homeowners are asking their agent to help find a tenant to rent the property to offset the expenses of making two mortgage payments. As an agent myself, I know and understand the desire to help our clients in any manner legally allowed. While finding a tenant for your homeowner is not a problem per say, it is outside of our scope of authority as outlined in the listing agreement. Agents would be wise to consult with legal counsel, such as Andy Aun with Aun and McKay Law Firm, to determine ways to manage the additional risk taken on by agents hired to sell a property and later become an agent finding a tenant for the property.
Andy Aun will be discussing this very issue in his monthly “Out Of The Box Marketing” on March 31st, 2011 at
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