Question regarding broker contract.

4 Replies

Hey all--

Making some headway on selling my landlord's property. If my GF and I can get the listing, our real estate career would be off to a great start! That said, my landlord is Chinese and doesn't speak English very well so it's been a struggle with the language barrier to say the least.

I spoke to him on Friday and printed out some key words in Chinese, mainly pertaining to signing a broker contract. His response, at least what I think he said, was that he trusts me and wants to meet the interested parties however, he believes he has a contract signed with another brokerage. Needless to say, I'm concerned with how this could work. I am going to be allowed to sell his property? This can't be the only situation where this has ever happened so I'm interested to see how this type of situation would work -- split commission with other broker or what?

@Todd Cohen are you a broker? It may be in your best interest to consult with your broker, because I would hate to see you work extremely hard and the end result be a big misunderstanding. That said consult with your local housing counseling offices and broker- is there someone that can provide interpretation services for a nominal fee? Real Estate is no longer a simple handshake for everyone. Although he has regarded trust in you, you still need to advise him appropriately (maybe you both can split the fee for the services. This could possibly reduce liability. I hope Im answering some of your question.

Im not sure if you are stating he has already signed a agency agreement with another Brokerage- if thats the case then who are you really representing?

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I wouldn't be receiving ANY fee. It will be my girlfriend, who IS a broker (just without any experience or knowledge really). Basically the landlord (at some time in the past, nobody remembers when) signed a broker contract to sell. They ended up not selling and has since approached me about getting my GF to sell it for him, because he trusts us.

Okay, well then your  girl friend should know....the owner generally signs a listing agreement which allows that broker only to act as the "listing broker", for a certain length of time.  If the previous listing contract has expired, then your girl friend can have him sign one with her broker.  Otherwise, you have to wait for the previous listing to expire, unless the owner has the right to cancel.  You need an interpreter....guessing is a useless endeavor.