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Old 04-02-2010, 08:08 AM
 
1 posts, read 4,434 times
Reputation: 10

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Hi,

I am a relatively new real estate agent in NJ. I was wondering if it's morally and ethically ok to put our place on the market "for sale by owner"? My husband would be the main point of contact (he bought the place initially by himself).

Do we have to disclose in the advertising that I am a real estate agent if he is mainly handling things? Or is it enough to disclose it if I happen to be in contact with potential buyers?

How is this proceeding looked upon by the industry? Will my broker be upset - or is it even illegal?

Thanks for your help!!
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Old 04-02-2010, 09:17 AM
 
Location: NJ
17,579 posts, read 43,294,317 times
Reputation: 16210
There is a real estate forum that you may find better luck in getting an answer.
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Old 04-02-2010, 10:28 AM
 
Location: Northern NJ
11,258 posts, read 9,705,235 times
Reputation: 14868
It's a free country and you can sell your property any way you want. If your broker doesn't like it you are with the wrong company and should move. There is nothing illegal about selling on your own, but you do have to disclose that as the seller (regardless of your husband's participation), you are a licensed real estate agent. That disclosure won't affect your marketing, nobody really cares.

Good luck.
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Old 04-02-2010, 10:42 AM
 
Location: Ashburn, VA
467 posts, read 1,441,197 times
Reputation: 372
If your broker demands a cut for selling your own house, you've got to find a new broker.

Of course, if you use your broker/agency's resources to sell the property, you owe them their cut.
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Old 04-02-2010, 12:57 PM
 
Location: New Jersey
515 posts, read 1,043,079 times
Reputation: 433
yes you can sell FSBO!!! There's nothing morally/ethically to be worried about as long as you dont influence your clients from your agency or use agency's resources to list, market, etc
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Old 04-02-2010, 04:38 PM
 
Location: Cranford NJ
1,049 posts, read 3,791,146 times
Reputation: 403
Check the code of ethics regarding selling your own home. I think there is a provision regarding disclosure (including disclosing on the sign). Technically, you should not be misleading anyone that you are *not represented*.
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Old 04-03-2010, 10:41 PM
 
Location: Martinsville, NJ
6,163 posts, read 12,134,382 times
Reputation: 3978
Quote:
Originally Posted by movingoverseas View Post
Hi,

I am a relatively new real estate agent in NJ. I was wondering if it's morally and ethically ok to put our place on the market "for sale by owner"? My husband would be the main point of contact (he bought the place initially by himself).

Do we have to disclose in the advertising that I am a real estate agent if he is mainly handling things? Or is it enough to disclose it if I happen to be in contact with potential buyers?

How is this proceeding looked upon by the industry? Will my broker be upset - or is it even illegal?

Thanks for your help!!
There's nothing illegal or unethical about listing your own property. As others have said, make sure you disclose that the property is owned and being sold by a NJ Real Estate agent. But is it the smartest thing to do? We all know that, although there are many tools to use, if you had to pick the single one you shouldn't try to sell without, it would be the MLS. So, without listing it with your broker, how are you going to get it on the MLS? And if you think you're goijng to use one of those "MLS Only" companies, and that your broker is going to be ok with that, I think you're kidding yourself.
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Old 04-04-2010, 11:21 AM
 
353 posts, read 960,309 times
Reputation: 218
First, you MUST disclose regardless of whether you are doing FSBO or listing w MLS or other method.

My bigger question is how you face consumers and try to convince them that listing with a Realtor is the right way to go when you did not to this yourself.... kinda a "practice what you preach" thing. Just a thought.
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Old 04-15-2010, 09:45 AM
 
Location: South Brunswick
12 posts, read 35,491 times
Reputation: 10
If you sell by owner what kind of message is that sending out to the public? Don't you want them to understand the importance of agent representation??
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