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To assert a commercial broker lien against a seller, the lien must be recorded before title transfers to the buyer. If asserted after the title transfers, the lien is only effective against the buyer who, if he/she has no legal obligation to pay the commission, may now have a claim of slander of title...
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A buyer’s broker recently called the Hotline and asked whether she was entitled to an equal split of the buyer’s deposit that was forfeited to the seller after the buyer breached.
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Facts: Our caller, a listing agent, was having trouble finding a qualified buyer for her client’s property. Shortly before the listing expired, a buyer offered to purchase the property on an installment sales contract and agreed to pay $2,000 down and $500 a month beginning with the first of the following month.
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A licensee is a dual agent in a transaction where the seller’s agent and the buyer’s agent are one and the same. Simple. Slightly more complex is the dual-agency relationship that is created when the seller’s agent and the buyer’s agent are separate licensees but both affiliated with the same broker.
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One of our important responsibilities as leaders and activists in NAR is to respond to NAR Calls for Action. Vicki Cox Golder, NAR’s 2010 President, has challenged the Broker Involvement Program to have 6000 Brokers enrolled by the end of the year.
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A divorcing couple has listed their home for sale. Shortly after listing it, their agent finds a buyer and the couple signs an agreement of sale. Then, unbeknownst to the agent, the husband enters into a side agreement with the buyer. When the agent asks about the nature of this agreement, the husband refuses...
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The Rules and Regulations published by the State Real Estate Commission require associate brokers and salespersons to include the business name and telephone number of the employing broker on all advertisements. A licensee recently called the Hotline because when she called a co-operating agent’s employing broker’s telephone number, she was connected to a disembodied...
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Two bills that would help protect consumers from mortgage fraud have passed the Senate and House and will head to the governor’s desk for his signature.
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Wednesday, Feb. 8, 2012
