Charles --
Thanks for your note. I think you raise several important ideas.
>>I have a question about your Realty Times article that infers that brokers are not obligated to do anything they don't want to do in marketing the seller's property.
>>>How do you square this with the fiduciary obligation "to use his best efforts to effect a sale of the property."
The broker's obligation as a fiduciary concerns such issues as loyalty, accounting for funds, placing client interests first, etc.
My thought is not that a broker has no obligations to market, but rather that a broker is not obligated to use a specific advertising venue unless a promise was made in the listing agreement to do so. The decision to use, or not use, ads on a given platform is a marketing decision, not a fiduciary issue.
>>>While every listing need not be treated the same, all things being equal does it not further the seller's need to sell by making the information available to the widest possible market?
As you note, not every listing must be treated the same. Who is to decide how best to market an owner's property?
The broker's obligations are clear. He or she cannot offer a property for less than the listing value. The listing agreement defines the expectations that are acceptable to a seller. The broker must meet those expectations to satisfy an owner and to get paid. Both the listing broker and the owner have common goals.
Brokers are hired by owners to effect a sale at a given price and terms. That's it. They have discretion, as you note, precisely because they are marketing experts and know how best to sell properties. Since all properties are unique, it follows that marketing efforts will vary.
The marketing that works in one case may not work in another situation. A listing broker must evaluate each property to determine the best way to attain the owner's goals as defined by the listing agreement.
A listing agreement does not allow a third party to borrow the broker's car, eat at the broker's desk, or use the broker's data. Unless it says otherwise, a listing simply gives permission for a broker to market property under precise terms and conditions. The question of "how" is up to the broker.
All the best.
Peter G. Miller
OurBroker(r)
http://www.ourbroker.com
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