Legal Question in Real Estate Law in Illinois
Hi we may sell the house this summer and already found a realtor. The problem is we have a family friend who is a realtor and kept on insisting that there is a law that she can also sell our house or list the house. We told her already we do not want her as a realtor and we only want one realtor. I am confused why she is saying this. I have not signed any contract or anything. Thanks
2 Answers from Attorneys
You do not need to enter into any transaction with your friend. There is not anything that would prevent your friend, however, from selling the property just like any other agent working the market could. Then, as selling agent, a cooperating broker fee would be paid (the commission split) pursuant to the multiple listing split. The only other options I can think of your friend suggesting would be to have you go through her to be referred to your desired agent or to somehow co-list, but those again would be options completely up to you and likely not the best course.
If she finds a buyer to whom she shows the house and knows you are represented by law she must present any offer to your broker. If that buyer then buys your house she will be considered a cooperating broker and your broker will be responsible for paying her the cooperating broker fee.