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Can a listing agent offer compensation expressed as a percentage of the net sales price?

QUESTION: One of my clients contacted me and expressed interest in seeing a property that is listed in the MLS. When I checked the listing, I noticed that the listing agent is offering compensation based on the net sales price rather than the gross sales price. Is that practice permitted? ANSWER: The answer depends on…

Champagne Wishes and Caviar Dreams

What’s trending in multimillion-dollar listings across the country and how to lead buyers and sellers at this price point.

Proper Use of REALTOR® Marks on the Internet

Q: I am a real estate agent and a REALTOR®. I have created my own Web page - ncsbestrealtor.com is the domain name and sunnyncrealtor@webnet.net is my e-mail  address. Are these proper uses of the term REALTOR® over the Internet? A: No. You must always use the REALTOR® marks in accordance with the rules and…

Can brokers advertise a “Free Home Valuation”?

QUESTION: I am a broker-in-charge. Recently, I met with some appraisers who expressed concerns about a service that is being offered on the websites of several brokers in my firm. These websites include a link that says "What is your home worth?" or "Free Home Valuation". If a user clicks on the link, the user…

Is the buyer obligated to buy the property even if they can’t get a loan?

QUESTION: In the updated Offer to Purchase and Contract (Form 2-T), there is a new “Note” under paragraph 4(a) that says: “NOTE: Buyer’s obligation to purchase the Property is not contingent on obtaining a Loan. Therefore, Buyer is advised to consult with Buyer’s lender prior to signing this offer to assure that the Due Diligence…

Virtual | The Nuts & Bolts of Property Management

Event Scheduled: April 10, 2024
Whether you're a seasoned professional in the field of Property Management or just starting out, this course is designed to equip you with the essential knowledge and skills to enhance your role as a property manager.

Do spouses both have to sign a contract to purchase real property?

QUESTION:  An agent in our firm prepared an Offer to Purchase and Contract (Form 2-T) in which his clients—a husband and wife—were identified as the buyers. The husband signed the offer but his wife was traveling and was not available to sign the offer at that time. The husband was afraid the property would go…

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Should a non-owner spouse sign a listing agreement?

QUESTION: I have been asked to list a piece of residential property. The home was purchased by the husband before he was married and the property is titled in his name alone.  However, the husband and wife have lived in the home for many years. Does the wife need to sign the listing agreement? I…

Is an addendum necessary to make the contract “as-is” or obligate the buyer to purchase the property even if the appraisal is low?

QUESTION: A buyer submitted an offer on one of my listings on Form 2-T with a non-standard addendum. The buyer is not seeking an FHA or VA loan. The addendum says that the buyer will buy the property “as-is” and pay the purchase price even if the appraisal comes in low. Is this addendum necessary?…

NC REALTORS® COVID-19 STATUS UPDATES

In light of the current situation, it is important that we provide you with updates on the goings-on in the state’s real estate industry. So, we created the STATUS UPDATE page that we will launch every time we feel that it is necessary to get you important information.

Virtual | Property Management BIC UP

Event Scheduled: April 9, 2024

Handling Multiple Offers

Dear Forms Guy: I am the broker-in-charge at my real estate firm. We have just been through a multiple-offer situation and I wanted to see if we handled it properly. Is that something you can help me with? Sincerely, Sidney Dear Sidney: Well, it’s not exactly a forms question, but I’ve never seen a good…

July 2023 NC Housing Report

July 2023 NC Housing Report - The rate of price increase has moderated quite a bit from the double-digit rates we saw in the past couple of years.

Virtual | Property Management GENUP

Event Scheduled: April 11, 2024

Your Role in Communicating with Appraisers

The do’s, the don’ts and everything else you need to know about the appraisal process

What makes the right to occupy a property for a period of time a time share?

QUESTION: I am a broker in a resort market. I have been working with a couple who really want a vacation home here but can’t quite afford to buy a place on their own. They have come up with the idea of getting an option on a place they have their eyes on, and then…

May an Unlicensed Assistant Complete an Offer to Purchase?

QUESTION: Is it permissible for an unlicensed assistant to complete an offer to purchase? ANSWER: The short answer is that an unlicensed employee may type an offer, a contract or a lease, but only from drafts of pre-printed forms completed by a licensee. Because the use of unlicensed assistants and other unlicensed office personnel is…

Real Estate Alert! Gale Force Demographic Wind Gusts Ahead

Seven powerful demographic disruptors can potentially quell future growth and demand for residential and commercial real estate.

REALTOR® Roundtable: Does a house really need a fireplace?

May 2018 Insight: NC REALTORS® weigh in on Facebook

Creating the Best Virtual Tours

Discover how 3D virtual tours and virtual open houses can help you reach more clients

Does a listing agent have to disclose prior low appraisals?

QUESTION: My buyer recently terminated a contract because the appraisal came in low. They couldn’t pay the gap between the purchase price and the loan amount. Several sales on the same property terminated for the same reason prior to our offer. Did the listing agent have a duty to disclose the prior low appraisals? ANSWER:…