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<p class="MsoNormal"><span style="font-size:14.0pt">Dear Group,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">Our firm does not handle any real estate closings or real estate licensing or sales law.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">I was under the impression that a “listing agreement” cannot be for more than 1 year and it cannot auto renew. I could be wrong.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">Routinely I see clauses in my client’s Property Management Agreements stating that in the event of sale, the owner must use the property manager’s real estate company, or it has a clause stating the commission
due to the property manager’s real estate company if the property sells while under management. Sometimes it is due if the property sells to the tenant, sometimes, if it sells to anyone. Isn’t this the definition of a “listing agreement”? A million years
ago, I remember a case where an owner challenged this and won. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">Most property management agreements have an autorenewal clause.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">Does this make the clause unenforceable or even in direct violation of FREC rules? Is the clause not a “listing agreement”?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">Thanks! <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt">Harry Heist<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Arial",sans-serif;color:#1F497D">LAW OFFICES OF
<br>
HEIST, WEISSE & WOLK PLLC<br>
PH: 1 800 253 8428<br>
FAX: 1 800 367 9038<br>
<i>"Serving the Property Management Professional"<br>
</i>Website: </span></b><a href="http://www.evict.com/"><b><span style="font-family:"Arial",sans-serif">www.evict.com</span></b></a><b><span style="font-family:"Arial",sans-serif;color:#1F497D">
<br>
Email: <a href="mailto:harry@evict.com">harry@evict.com</a> </span></b><o:p></o:p></p>
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