New Year . . . New Realtor??

“Out With the Old, In With the New”

[Editor’s Note:  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.]

To laymen, December 31 is known as New Year’s Eve.

To Realtors, December 31 represents . . . the biggest day of the year for listing contract expirations, by far (you’d guess June 30 is a distant second).

What does that mean?

Incumbent Realtors who aren’t discussing a contract extension with their clients very soon are most likely out as of that date.

Would-be Successors (“Realtor #2”)

The end of the year is also when would-be successor agents are stepping up their marketing, and targeting listings that are getting to be — or already are — “long in the tooth.”

Just not too aggressively:  Realtor rules allow agents to discuss taking a new listing before the current one expires IF the home owner contacts them.

If it’s the other way around, Realtor #2 could be accused of tampering with the incumbent agent’s contract.

Similarly, home owners are always free to discuss canceling a listing contract with their current agent.

However, other agents generally must steer clear until the previous contract has been dissolved.



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