Is Net Listing agreement illegal in pa?

Answer 1

Oh, dude, let me break it down for you. In Pennsylvania, net listing agreements are technically legal but highly discouraged because they can lead to conflicts of interest. It's like walking a fine line between legal and sketchy, so most real estate professionals avoid them like a bad Tinder date. So, yeah, technically legal, but you're better off sticking to more conventional listing agreements, ya know?

Answer 2

When listing your home with a real estate broker, different options are available, one of which is net listing over the internet. A net listing specifies the amount of money that is wanted for the sale. The broker keeps any extra money over that amount as a commission. The problem with this is that the broker is allowed to increase the price the seller wants to make more profits for themselves. This can lead to a conflict of interest for the broker and can affect the ethical nature in which the sale is done. For this reason it is illegal in many states to have a net listing agreement, however net listing is perfectly legal in Pennsylvania. Net listing can be a good way to scam unsuspecting buyers that are far away geographically from the property that are unable to physically see the property. Buying a property or anything over the Internet that is not from a reputable source is sketchy at best.