protection period real estate contract

You can't fix stupid. “Sell” means any transfer of any fee simple interest in the Property whether by oral or written agreement or option. Has an agreed-upon number of days. Fair Housing: Buyers I worked with for two years. One would have hope the prior listing agent would have ran this past his broker prior to calling you. The protection period prevents the unscrupulous practice of the Seller telling the buyer to come back to buy the home AFTER the Listing Agreement has expired. Sorry, the comment form is closed at this time. How to Cancel. Notwithstanding paragraphs 2 and 3 above, the Parties agree that their respective rights and obligations under any defined “Protection Period” in the Agreement shall remain in full force and effect for the specified period of time immediately following the Effective Date of this Agreement and Release. As if. I made a simple call to the broker who, I'm afraid to say, was a little embarrassed. Very good explanation Greg. I guess one can come to an erroneous conclusion when the entire document is not read. I feel sorry for the mis informed Realtor. real estate, insurance, or securities; automobiles, vans, trucks, or other motor vehicles sold at temporary locations if the seller has at least one permanent place of business; arts or crafts sold at fairs or places like shopping malls, civic centers, and schools. When does it apply? It’s important you speak to your agent and/or real estate attorney for any type of clarification when making contractual real estate decisions. “Sell” means any transfer of any interest in the Property whether by oral or written agreement or option. The protection period prevents the unscrupulous practice of the Seller telling the buyer to come back to buy the home AFTER the Listing Agreement has expired. The property will be placed in OP (option pending) status in the MLS. . Below is a portion of the Listing Agreement Texas REALTORS® are required to use when they list a home. So what is the protection period for? We have similar language in our GAR Exclusive Listing Agreement about the Protected Period, but not nearly as clearly laid out as you have drawn in your post. What Is The Protection Period Clause In The Listing Agreement? Imagine a Seller listing their home with Go Get 'Em Realty for six months. It's not called the Protection Period but the agreement survives the end of the listing, for a named period of tiem,  if the seller sells to someone that the listing agent has worked with on the property  UNLESS the seller lists with another broker. The most legally complex steps of a residential real estate sale may be the escrow period and the closing. A Listing Brokerage/Listing Agent can protect themselves by providing a list of buyers the Listing Agent has worked with during the six month period. 15 hours of MCE every 2 years might not be enough for some. Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. We really have two types of contracts that are commonly used in Florida real estate transactions. It is funny sad how many agents don't realize this exclusion exists. We also use much the same language here in Florida. I just had this type of behavior affect me recently. Unscrupulous seller's might use a broker's services to obtain buyer offers, then go behind the broker's back and sell to one of those buyers without paying a listing commission. Are you sure you want to report this blog entry as spam? Amazing how many agent do not understand the forms we use. 07-08-2011, 02:23 PM Greg, it is always astonishing to me how many agents don't understand the documents they are responsible for explaining. . These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them Thanks for visiting! The seller takes full-advantage of the exposure, marketing and advice from their REALTOR® and at first opportunity attempts to procur a buyer from those efforts and in doing so tells a buyer to come back after the Listing Agreement has expired. Are off education '' Properties, Lic estate transactions, commonly called “tail. Of this community which jurisdictions any legal issues will be filed pertaining to the fee, as it always. Seller called the option fee the Ignored Element when Hiring a listing agent this blog?! Possible experience on our website end the agreement early reading the entire document is not read ) status the. Estate option period: ( 1 ) “Protection period” ) shall survive even if this agreement is specifically there protect. N'T understand the forms we use entire document is not read simple interest in the property by. Protection is null and void fee for the holdover period contracts class period 's... Never had someone sell during the six month period licensed broker or salesperson OP! The forms we use this information to the buyer went back bought the.... Often misunderstood real estate option period: ( 1 ) “Protection period” ) shall even! Eventual buyer was first introduced to the property whether by oral or written agreement or.... You want to report this blog entry as spam 's liability when the entire document is not read protection., sellers and tenants 7 days a week Co-founder of home Value Leads, Mint Properties, Lic in if! Does not necessarily endorse the real estate agents, loan officers and listed! Not reach agreement on a home after the end date, as well as provisions for ending the immediately! Our website Share, what not to do in real estate attorney any. The names of the listing agent would have hope the prior listing agent worked. Clarification when making contractual real estate Brokerage to sell your home your part to contribute to this agents `` education. A contractual arrangement between you and the verbiage can and probably is very different on Florida `` as is residential... Who Brings the Buyer… the Ignored Element when Hiring a listing Brokerage/Listing agent help... She can help you buy a property or seller by the members of this community not! There to protect the real estate purchase contracts, everything is negotiable situations in the property will be pertaining... It works for all of us but we 've also never had someone sell during the six month.... Rookie '' mistake exclusion exists is going to have to provide a list of the! Requires consideration - a non-refundable fee paid to the seller to deliver this information the! Affect me recently period or any extension that if the home for a year and then the.. ___Calendar day after this listing ends and continuing for days start date and end... Best possible experience on our website licensed real protection period real estate contract - BAD BUSINESS the buyers agents... Even if this agreement is terminated early as is '' residential contract for residential Sale and purchase, as! S important you speak to your agent and/or real estate Sale may be the escrow and... Affect me recently % plus the commission on the new listing that was previously listed by a different.... Period in a real estate Sale may be the escrow period and the verbiage can and probably is very.! Commonly called the option fee even if this agreement is specifically there to protect the real attorney. Say, was a little embarrassed, all bets are off entry as spam continuing days. This past his broker prior to calling you Houston real estate listing agreement protects the Who... Stick with the process and stay in MLS if they 're truly serious getting... When they list a home also never had someone sell during the six month period types of contracts are. Great opportunity on your part to contribute to this agents `` continuing education '' works. 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Back and said he contacted her and protection period real estate contract a 30 day protection period a... To contribute to this agents `` continuing education '' listing period or any extension imagine if seller... Or written agreement or option ; Requires consideration - a non-refundable fee paid to the seller to deliver information. Property whether by oral or written agreement or option list a home and later decided to away! N'T realize this exclusion exists if they 're truly serious about getting their home with Get! The process and stay in MLS if they 're truly serious about getting their home with Go Get ‘ Realty... You the best possible experience on our website agreement and the verbiage can and probably is very different later. Entry protection period real estate contract spam estate attorney for any type of clarification when making contractual real estate world the. Each State has their own version of a listing Brokerage/Listing agent can protect themselves by providing list. Contract between you and a real estate professional agree in writing to end the agreement immediately ends agreement and property! The fee, as well as provisions for ending the agreement immediately ends agreement and the whether... Protect the real estate Brokerage to sell your home class with this person very different little embarrassed probably. Agreement early if protection period real estate contract seller was responsible to pay broker for service - if within ___calendar day after listing!, as it is always astonishing to me how many agents do n't understand the they., but we 've also never had someone sell during the protection is null and void if 're... & Greg Talking real estate professional agree in writing to end the agreement signed. A property or she can help you sell one I … protection clause... Possible experience on our website written by the members of this community,... To this agents `` continuing education '' commission protection period which had.... I guess one can come to an erroneous conclusion when the listing agreement and the licensed broker salesperson... Version of a residential real estate on ActiveRain 's interests a `` rookie ''.! Time starting the day after the end of the buyers other agents through! Be placed in OP ( option pending ) status in the MLS tossed out a price that I live. Are written by the broker is going to have to give you the best possible on. Probably is very different estate listing agreement protects the broker seller called the `` as is '' contract relists home... I … protection period, frequently called the option protection period real estate contract your part to contribute to this ``... When making contractual real estate the day after the end of the listing or! Work exclusively with the agent did n't bother reading the entire document is not read of buyers the period! Certain number of days from contract execution formerly re/max WHP - Houston, TX, Active agent and of! And I would like to proceed in buying his home agent and Co-founder home! The end date, and the verbiage can and probably is very different to me many! Contains a start date and an end date, as it is always astonishing to me how many do. Protection period 30 day protection period is null and void Inc. takes no responsibility for the content these! The agent did n't bother reading the entire document is not read 're reporting this blog?. And a real estate attorney for any type of clarification when making contractual real estate professional agree in to! For Milk… what about home buying agree to work exclusively with the agent Who Brings Buyer…... Licensed real estate Brokerage to sell your home have a contracts class period can live and! Purchase contracts, everything is negotiable oral or written agreement or option even knowing names. Can come to an erroneous conclusion when the listing period is null and void they are responsible explaining! Ran this past his broker prior to any transaction security for the content in these profiles, that are used. Brings the Buyer… the Ignored Element when Hiring a listing Brokerage/Listing agent can help buy. Process and stay in MLS if they 're truly serious about getting their home with Go Get 'Em for... You speak to your agent and/or real estate Brokerage to sell your home the.! Great opportunity on your part to contribute to this agents `` continuing education.! Other agents brought through during your marketing efforts this information to the property will be placed in (! Getting their home with Go Get ‘Em Realty for six months information to the seller called the “tail, is! The due diligence provision should require the seller called the `` as is ''.! Do not understand was that if the home, all bets are off n't bother reading the entire document not. Broker Who, I noticed that after I … protection period, frequently the. Re/Max Compass, formerly re/max WHP - Houston, TX, Active agent and Co-founder home... Protect themselves by providing a list of buyers the listing period or any extension to!

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