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Subject:
commercial real estate
Category: Business and Money > Small Businesses Asked by: mark800-ga List Price: $5.00 |
Posted:
06 Apr 2005 18:28 PDT
Expires: 06 May 2005 18:28 PDT Question ID: 506066 |
What does "brokers protected" mean when on a for sale sign on a commercial building? |
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There is no answer at this time. |
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Subject:
Re: commercial real estate
From: jack_of_few_trades-ga on 07 Apr 2005 05:30 PDT |
I've never heard that term before and I've seen alot of home deals go through. After some searching, I think it means that the broker (usually the mortgage broker but possibly the real estate broker, or both depending on how the maker of the sign intended it) can not be cut out of the deal. Without "brokers protected", there are ways to get information or services out of either party and then cut them out of the deal (not pay them commission) before the final signing of the contract. |
Subject:
Re: commercial real estate
From: myoarin-ga on 08 Apr 2005 10:29 PDT |
I expect that means that the broker has an exclusive contract with the owner, one which also says that anyone trying to deal directly with the owner will have to be referred to the broker and pay commission. Fair enough. It saves the owner from being pestered by calls from potential buyers and from other brokers, and a broker may get a better price for the owner than he would from his own negotiating. When I was looking for a house, I found one place offered in the same newspaper by three realtors. |
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