A relative of mine has listed a house and unknown to him, the realtor lowered the asking price in the MLS (house is listed in REALTOR.COM) without first asking my relative. Can the realtor legally do this? If not, what should my relative do?
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no. not sure if its illegal, but its unethical. He can turn down the offer if he chooses to. But I would get it changed immediately and if the realtor did change the price I would call the head of the realty company.
No. Fire the realtor today. They are not working for you, they’re undermining the value of the property, being deceptive, and will probably add some other hidden fees when it sells. This is someone who needs a commission check fast. I would fire them today.
It depends on who has to approve the sale. If it is a short sale the only signature that matters is the banks, your relative does not even have to approve of offers.
A Realtor cannot change the price of the house, cannot accept or turn down and offer without bringing it to you first, cannot agree to any terms or conditions without your written approval – NOTHING without your approval they are simply your representative. The Realtor needs to be reported 2 places #1 call the office they work for a speak to the BROKER, 2nd place is your states Department of Consumer protection
No, any change has to written up and signed off on by the seller. You may want to contact the Realtor to see if he has some tactic up his sleeve and if not where the signed documents approving the change are.
No, I’m sure you would have had to initial some paperwork somewhere to make that official
He could have decided to reduce his amount of the selling commission. Is the amount small enough for that? Other than that, it doesn’t seem possible.
In my area, the owner would have to sign a change form.
I have some out of town sellers that just want me to change the price, but I won’t do it until I have the signed form in hand.
The realtor is YOUR employee. You depend on hie expertise, but in the end you call the shots. Are you sure it wasn’t a clerical error?
Normally the seller would have to sign a form to make a change to the listing, especially the price. If they have concerns, I would contact the Broker for a copy of the form that denoted the change in price. Is it possible your relative sign something during the listing process that could give the agent the authority to change the price after a specified period of time with no offers?