patrick.net

I would fully support this law.
I would also like to see a law that prevents real estate brokers getting both sides of the commission. They can represent both sides, but not get the commission.
Most of all I would like to see the MLS lose the monopoly they have on the listing information. It should be public knowledge, period.

A law on top of another law ? NOOOOO !
Real Estate Agents are already mandated by law, they submit ALL offers to the seller.
DO THEY ? Probably not the silly ones.
If you executed an offer and discover it was Not presented to the Seller, the agent would risk losing his\her license after filing a complaint with the DRE.

Failure to abide by the regulation should have a immediate penalty of permanent suspension of the real estate agent's license for life.

If the brokerage conspired with the agent, they should be shut-down as well and all parties involved in the incident should have their license permanently suspended including brokers.

$20,000 fine also applies to every individual involved.

The law should also be enforced. Failure for a government, either local, state or federal government agent or judge to enforce this law and charge the guilty will also face penalties of immediate termination from their position permanently as well as a $20,000 fine.

^

The above extremely strict and harsh penalties for this law will ensure all these Realtor scumfucks will not fuck around with not submitting all offers anymore.

Raw says

They can represent both sides, but not get the commission.

Why not ?

TMAC54 says

Raw says

They can represent both sides, but not get the commission.

Why not ?

How much invested ? How much back ? What's the risk ?

Too much incentive for abuse. The listing agent has tremendous motivation to make sure offers from other agents don't get through. This is not good for the buyer or the seller as the best possible offer may not even get presented.
I am licensed, and tried getting some investment homes by making offers with my own license. Nothing went through. I then approached the listing agents directly and asked them to represent me. Worked like magic.
I have also heard an agent say "I will never let any other agent sell my listing" The bastard belongs in jail.

Raw says

I am licensed, and tried getting some investment homes by making offers with my own license. Nothing went through.

Instead of creating MORE LAWS. Enforce the existing ones. (would solve many problems in America) Take copies of your written offers to the DRE or an attorney, Make sure the seller agrees those offers where never presented and have the agents defrocked.
Raw says

I have also heard an agent say "I will never let any other agent sell my listing"

That must be one successful agent who can pull a buyer out of his hat for every property he lists. I had always believed a quick nickel is better than a slow dime.
If you are an agent representing the sale of a couple sections of land behind several combination locked, and barbed wire gates, requiring four wheel drive access a snake bite kit and deeded description lines transposed to topographic maps, should you allow a house seller in high heels and a pink cadillac to show your clients property ? Nothing is wrong with an agent representing both buyer and seller if those issues are disclosed. When you submit an offer demand the sellers written acknowledgement.

TMAC54 says

Instead of creating MORE LAWS. Enforce the existing ones.

Actually, instead of creating laws and more govt bureaucracy, you can establish BEST PRACTICES in the marketplace. As i have illustrated before, require face to face bidding process with all prospective buyers (bidders) and their realtors/agents present at one place (Weekend) and make their bids in person. ALL BIDS ARE TRANSPARENT and final highest offer gets to sign the final contract. No fake bids, no unknown multiple offers.

TMAC54 says

I am licensed, and tried getting some investment homes by making offers with my own license. Nothing went through.

Instead of creating MORE LAWS. Enforce the existing ones. (would solve many problems in America) Take copies of your written offers to the DRE or an attorney, Make sure the seller agrees those offers where never presented and have the agents defrocked.

I totally agree with you. But complaining to the DRE or an attorney costs time and money. How would I prove by accusations? In the meantime the right deals would get snapped by someone else, and I would eventually be the loser.
Laws alone do not prevent abuse. Taking away incentives to prevent abuse is much more effective.

Take copies of your written offers to the DRE or an attorney, Make sure the seller agrees those offers where never presented and have the agents defrocked.

And how do you know your offer was never presented if you have zero visibility into what the agents are doing?

I seriously doubt that all these agents out there are withholding offers from their clients. It would be so easy to directly ask the seller if an offer was ever presented. I cannot see jeopardizing a license or reputation. If you want to argue that bank-owned property would be different, I will say that the agents that get those listings have so many that they don't care about getting both sides. They probably don't have time to show the properties themselves. There are bad apples in every profession. It's always a treat for an agent to get a "double" commission, but it's not expected or manipulated by most.

And how do you know your offer was never presented if you have zero visibility into what the agents are doing?

That is the snag. A lowball buyer would be put in an uncomfortable position DEMANDING written acknowledgement of the rejection from the principal. Business is business. Buyers need to educate themselves.
Homeowners names are included on the situs microfiche at the county recorders office. There is NO law stopping a buyer from making direct contact. Agents don't want them making contact for many reasons. One of which, a seller might reveal irrelevant info that kills a sale.
(child molester (or worse) once lived two doors over, etc.)

TMAC54 says

A law on top of another law ? NOOOOO !

Real Estate Agents are already mandated by law, they submit ALL offers to the seller.

DO THEY ? Probably not the silly ones.

If you executed an offer and discover it was Not presented to the Seller, the agent would risk losing his\her license after filing a complaint with the DRE.

How much invested ? How much back ? What's the risk ?

But how is the prospective buyer (no RE contract) made whole by this? The Realtor gets rights to defend herself and the prospective buyer does not get the house. That doesn't sound fair. I would support mandatory 5 years at hard labor - a class A felony- for the Realtor with no possibility of probation OR parole, or the Utah firing squad. Realtors might think twice about cheating?

investor90 says

But how is the prospective buyer (no RE contract) made whole by this?

Good question; simple answer. Hypothetical; you acting as Judge, Plaintiff proves an offer was not submitted to a seller.
WHAT DO YOU WANT ?
Damages ? (is the value appreciating?) Maybe sue for the equity.
Specific Performance ? (force the new owner to move out ?) unlikely
Discipline for Agent ? (defrock) not worth the effort ? That is why this thread began. Nobody is willing to make an effort to enforce existing laws without some personal financial return.
Everybody wants gubmint to do more for them. MORE gubmint = MORE taxes.
Should we line up weather reporters too ?

Why not just assume that the realtor is going to withhold your lowish/sane offer and communicate directly with the owner? It doesn't seem all that hard to look up property ownership records.

Good luck passing this law. the nar is one of the most powerful/rich lobbies next to the banksters/wall street.

TMAC54 says

If you executed an offer and discover it was Not presented to the Seller, the agent would risk losing his\her license after filing a complaint with the DRE.

Really? I've complained about many realtors and nothing is ever done. It is a mafia mentality and we are the small business owners that get shaken down.