How common is it for a broker to call a principal on a marketing you send them?
Hi,

I have a pocket listing that I don't have under contract. Owner doesn't want to sign anything but is asking me to bring people and named his price. Owner gave me just under a month before he sells it to someone he knows at a lower price. I want to commission the help of brokers but do not want to jeopardize someone taking it from under me.

If I send a full marketing brochure to other brokers I have a relationship with, what are the odds they will directly contact the principal and inquire about if the property is listed? Is this a common practice or do brokers typically assume a listing agreement is in place when they receive marketing?
[{"id": "e3wwv4o", "text": "Would the brokers know who the owner is?  Is he well known in the community?  If no, then they'll just go through you to contact him. \n\nIf yes, maybe... but still more than likely not since it's just not how the game is played.  \n\nYou gotta play the risks though.  If you do nothing to market it you wont' get paid.  Odds are you will be fine.", "replies": [{"id": "e3wxeop", "text": "Yup, can't just sit on my hands. I appreciate your thoughts.", "replies": [{"id": "e3wy4i3", "text": "I actually specialize in off-market deals. You definitely want to send an NDA before revealing any identifying information. Give the brokers an overview of the property without giving exact numbers and if they have somebody interested send them the NDA. Once that\u2019s signed send them all relevant information. ", "replies": [{"id": "e3ywv5q", "text": "Same process for broadly marketed deals, really. Offer only enough to gauge interest, everything else requires a CA/NDA.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "e3x1qcb", "text": "There are sharks out there. In my market I have experienced agents reaching out to owners I have had listed on the MLS to check to see if they are happy with me and ask when the listing is up if they can have a meeting. \n\nAsk your seller for a three month listing agreement with friend exclusion in the listing agreement. That way he knows he can sell it to his buddy at any time and still has you pushing it to the market full force.  ", "replies": [{"id": "e3ywxb1", "text": "&gt;Ask your seller for a three month listing agreement with friend exclusion in the listing agreement. That way he knows he can sell it to his buddy at any time and still has you pushing it to the market full force.\n\nYep. Keep it simple, shouldn't need to involve counsel. Then get to work when you've got a written agreement.", "replies": [], "depth": 2}], "depth": 1}, {"id": "e3xgcmi", "text": "In my states, it would be illegal for a licensee to offer for sale any property without a written agreement from a seller. At least an open agency agreement at a minimum. \n\nSo yeah, I imagine they'll contact him, and might report you while they're at it. ", "replies": [{"id": "e3xxl57", "text": "Came here to say this. Be careful with marketing the site without an agreement, commission is getting more serious about advertising. ", "replies": [], "depth": 2}, {"id": "e3ywsiu", "text": "In CA a verbal agreement counts.", "replies": [], "depth": 2}], "depth": 1}, {"id": "e3xjht9", "text": "Where are you located? May vary from city to city\n\nIf you don't have an exclusive signed, nothing is stopping other brokers from going behind your back. At least that's how it is here in NYC", "replies": [], "depth": 1}, {"id": "e41f9ik", "text": "If someone calls me about an opportunity I have a client for an they don't have a listing I will often go directly to the seller as, to me, it means there is no relationship with the seller and I don't want to deal with drama.  I just want a deal done.\n\nIf the seller won't give you a listing I would recommend moving on and not wasting time on someone that won't commit as it likely means you are going to end up fighting to be involved.", "replies": [], "depth": 1}, {"id": "e4g858c", "text": "Lock it up in writing or you will get eaten by a shark.", "replies": [], "depth": 1}]