AboutTodd C. Menard Expertise National Association of Realtors Code of Ethics and Professional Standards
* Contract Questions: 05/05 Arizona Real Estate Purchase Contract, Exclusive Buyer Broker Contracts, Listing Contracts and associated contract documentation as it relates to boilerplate, covenants, contingencies, procedures and procedures.
* ARMLS Arizona Regional Multiple Listing questions
* Real Estate Professional Standards and Practices, Ethics, Obligations, Duties
* Agency relationships in Arizona, Procurring Cause
* Questions typicaly arising during the listing period
* Questions typically arising during the escrow period
* Questions about working with a real estate agent v. REALTOR
* Questions Related to New Home Builders
Experience Real Estate experience (17 years),
Designated Broker (1995-present),
President of Professional Real Estate Partners (2005-present),
President of American Institute of Professional Standards and Practices
Certified Negotiation Expert (CNE),
Master of Real Estate Society (MRE),
AZ Real Estate Instructor (13 years)
AZ Dept. of Real Estate Continuing Education Instructor,
AZ Assoc. of REALTORS Professional Standards Committee,
AZ Assoc. of REALTORS Board of Directors (2008-09),
AAR Certified Ethics and Professional Standards Instructor,
AAR Forms Committee 2005 - Residential Purchase Contract 2005,
Southeast Valley Regional Assoc. of REALTORS (SEVRAR) Board of Directors (2008-2009),
SEVRAR Grievance Committee Chairperson (1998-2007),
SEVRAR Continuing Education Instructor (2003-present),
SEVRAR Education Committee (2007-present),
AZ Dept. of Real Estate Commissioner's Statute Review Committee (2007)
Organizations National Association of REALTORS,
Arizona Association of REALTORS,
Southeast Valley Regional Association of REALTORS (SEVRAR),
Phoenix Association of REALTORS,
Scottsdale Association of REALTORS,
Maricopa/Glendale Association of REALTORS,
Arizona Regional Multiple Listing System (ARMLS),
American Notary Association
Publications "Real Estate in 2008"- Lifebushido Publishing (Contributory Author), SEVRAR Magazine,
Internet Crusade, RealTown ListServe, Blogger.com, Active Rain
Education/Credentials - AAR Certified Ethics and Professional Standards Instructor, Graduate REALTOR Institute (1993), Certified Negotiation Expert (CNE), Over 100 Hours of annual real estate continuing education, Annual Ethics and Professional Standards Development Workshops as required by the ational Association of REALTORS, Approx. 72 hours of NAR Code of Ethics training annually, Numerous IDW, Seminars and Train the Trainer programs, Business Management Degree - 1981
Awards and Honors Platinum Production Award - Keller Williams Realty Int'l (2001),
Double Platinum Production Award - Keller Williams Realty Int'l (2002),
Top Recruiter Award - Keller Williams Realty Int'l, SW Region (2002),
Who's Who in U.S. Executive (1983),
Who's Who in U.S. Real Estate Professionals (2007)
Expert: Todd C. Menard Date: 6/8/2008 Subject: real estate contract time limit
Question We saw a house in Illinois through a realtor that was for sale by a real estate company. The house did not sell and is now off the market. How soon can we make an offer to the owner of this house without the owner having to pay any real estate selling fees?
Answer Hello Mike - To begin - I apologize for the fact you have not received a response to your question. I replied the day after your posting. I do not know what happened. Please accept my apology for any role I may have played. Now, To the answer to your question. All listing contracts must have a beginning and ending date and many do include a "buffer" time during which in the event an individual purchases the home after the expiration of the listing the Seller would still be liable for compensating the listing broker. Unfortunately their is no rule-of-thumb time period although long time periods are usually used to prevent situations like this from occurring. Since their is no way to tell what date was used the best method is to call the seller and ask them to look at their listing paperwork. Be cautious as buyers are sometimes liable to the buyer broker who initially showed you the home under two conditions. First, if the sellers agent is compensated then the buyer agent can file arbitration to receive their rightful compensation; second, in the buyer has signed a buyer broker agreement with their agent and consummate the sale prior to the expiration of the buffer period of the buyer broker agreement. I hope this helps and I hope you accept my apology for whatever reason the delay in responding occurred. I would recommend that both you and the seller seek legal advice from a real estate attorney about the laws and interpretation of your contracts language in your state as I am not an attorney. This information is to be considered real estate advice any professional REALTOR should be able to provide.- Todd
