Is it illegal to have a property listed for rent and for sale by two different real estate agents?
Real Estate Question
What I was planning to do is to put the house for rent with one agent and at the same time, put the house for sale. I have tried going with just one but I am not having any luck in finding prospective buyer/renter. So I thought about putting it up for rent and for sale at the same time.
I don't want to put the house for rent by two different agents. Each agent would be responsible for rental/sale respectively.
- 1 decade agoFavorite Answer
If you are looking at renting a property and see it listed by two agents, that's none of your concern.
If you are listing a property for rent and want to use two listing agents, I don't think that's legally possible. It's certainly not ethical. When you list with an agent that gets a commission for finding the tenant, you should have entered into a contract with him. And, therefore, that should preclude you from doing so with another agent.
If you did list with agent A with a listing contract and then listed it with agent B, and agent B found a renter, I would think you legally owe agent A his full commission as well as agent B.
- 4 years ago
It is not mandatory to take help of a real estate agent to sell off a property. You should first prepare the property for sale and make it look great. Then you decide on the price of the property effectively. Though you don’t take help of an agent, it will be better to take the help of a real estate attorney. With the help of an attorney, you should take steps to market the home so that you can sell it off soon. Once you get a buyer, you will have to start negotiating for an offer. You will have to take part in home inspections and buyer appraisals. Once all these steps are completed, the deal will go for closing.
- Anonymous1 decade ago
Sure there is nothing wrong with that. In fact many agents do not handle rentals and some property managers cannot legally handle sales, so this is sometimes necessary.
You are legally required to tell any prospective renters that it is for sale BEFORE they sign any leases.Source(s): I'm a property manager.
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- RangerLv 71 decade ago
Not as long as both agents know about the other and agree to share the commission.