Listing someone else's house on MLS
Hello All
So long story short, I'm dealing with this seller who lives in Missouri and has no intention on coming back to Illinois where the subject house is located.
Am I allowed to be his "boots on the ground" where I go ahead and find a realtor to list his house on the MLS even though I'm not the owner? I'm just the guy coordinating everything in his best interest.
The deal structure would like somewhat like this:
Me and owner agree on a "fee" that I am going to take home. I find realtor to list property. Sell property for $150k (which is conservative). Around $15k in closing costs and commissions. So theres $135k on the table. I take home $20k. and $115k is left for him which is $5k more than our original agreed sell price. And that's just the minimum. He can potentially take home $120-125k home.
I would imagine I can do this as long as he's aware of what I'm doing and we have a contract between me and seller with both our signatures as well as documents to prove that he's the owner right?
Any advice would be greatly appreciated
Thanks!
Most Popular Reply
The one place I would check first is the Illinois Board of Realtors. If they even think you are poaching you have a problem.
You should look into becoming the seller's trustee. Giving you power of attorney to sell the property on his behalf. Only thing after that would be a letter of direction instructing you how to disperse the proceeds of the sale.
Be safe check with an attorney. Can't find one let me know.
Good Luck and Good Investing.