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I have no real dog in this fight but this is one thing that has pissed me off in the past. If a listing is an invitation for offers, then that's exactly what it should do. There's no need for a price to be attached if the sole purpose is to solicit offers. Is there any other transaction that occurs in this fashion? If somebody offers an item for sale at a price and terms then they should be prepared to sell it at that price and for those terms. If you want to auction it then do so. Don't list it for sale at a price and then demand an auction. | |||
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| I believe in the principle of Due Process  |
I think it is this way for the practical factors I described before. Other than that, the listing price sets the commission due in the improbable event a ready willing and able buyer appears, makes an offer on the exact terms of the listing and the seller refuses it. If you go to personal property sales, usually the price and terms of payment are the only details. In real estate transactions, there are dozens of little details, disclosures, inspections, contingencies, service providers, etc. I’ve experienced extended wrangling over which title insurer would handle the deal. Everything else was agreed but that! I got a call one night from a slightly inebriated friend of mine who was melting down in anxiety that he had sold his house to two different buyers. He had. It was a very desirable property in a very desirable area, and the negotiations to alleviate the situation were almost certainly the most delicate of my career. One outfit in California had its listings proclaim, “Sellers will entertain offers between $xxxx and $yyyy.”This message has been edited. Last edited by: JALLEN, Luckily, I have enough willpower to control the driving ambition that rages within me. When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown | |||
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My name is James, do not call me Jimbo. My day job also includes ultra luxury real estate, although it is not the core. I oversee a $10 million luxury house for a client during the summer and am the only person he trusts to have access to it. I'm going to inspect a $1.735 million house tomorrow for a very good customer of mine in Michigan. He'd rather pay me to pre-inspect every house for him (very well btw) he's interested in before he wastes his time to fly down from MI for every house that pops up on the market in the very strict/unique location he's looking at. Basically only 40 houses to choose from total.....I already manage his other luxury deepwater home in Pompano Beach, but he wants direct ICW, but his wife will only let him buy between 14 streets because she likes to walk to some diner for breakfast in the morning on the 2 random weeks a year she's here, and there are only 2-4 direct Intracoastal houses per street. The other house isn't even for sale. The minute a seller makes a counter offer, the buyers initial offer is rendered null and void legally. | |||
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| I believe in the principle of Due Process |
I bolded my statement above. So at least you seem to agree on that much. If a listing were treated as an offer, anyone could accept it, and a contract formed. A listing which is construed as an invitation to make offers, as they are, puts the power of contract formation with the seller, much less chaotic, usually, in the rough and tumble of offers, counteroffers, multiple parties, bidding wars, etc. Luckily, I have enough willpower to control the driving ambition that rages within me. When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown | |||
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