Personally, I would not allow anyone to tie up my property in this market, unless you have a for-certain-deal(such as a bonafide offer from a purchaser with a letter from their bank saying the buyer has been prequalified). If you are not in a hurry this may be a little different. I am an investor myself, and had to get a brokers license just to protect myself from the wolves. An "open listing" is one that pays the agent that brings the actual buyer. You can describe & advertise your own property. Also, like the prior answer you received, you mostlikely misunderstood the terms ie., time period to owe a commission. It is typical for a period of months for you to owe a commission if you sell to a buyer whom discovers your property via a brokers advertisement...which is fair. Some brokers work pretty darn hard to market your property & help you get a buyer; and should get paid. However, check up on this agents credentials if the deal sounds bizarre. Talk to the agents broker, ask the agent if he/she is new, or go on to someone else.....there are too many good agents to allow one-agent to make you feel uncomfortable or stupid. Ask & ask lots of questions! You be in control...... as it's your property! Don't let anyone bulldoze you. There are a lot of desperate bullies in this world. Find out where your agent lives, whom he/she knows, and ask for references from other customers(sellers). I used to become so disgruntled with bad-listing-agents for not preparing the listings properly! Why? A bad listing makes it impossible for a buyer to feel comfortable and be willing to carry the purchase all the way to the bank so you can get paid! This is your object if you want to sell... right? getting paid? OK Have fun, don't let anyone stress you out! good luck.
Aug 29, 2011