Nice to see Florida stepping in.

It seems unfair and deceptive to me. 

totally agree. Glad they are doing something about it. I don't sellers understand this fully.

Never heard of MV Realty.

As I'm thinking about how nuts someone would have to be, to agree to a 40-year Listing Agreement. To me it simply comes down to GREED on both parties!!!

I can not imagine a 40 year listing holding up in court David M. Dwares even with the money to the potential lister figured in there.

Ridiculous....and will be thrown out.

After 30+ years in this business, every time I think I've seen and heard everything, something like this comes along and I realize I'm not even close.

At my age it would be hard to talk about a 40 year listing... even a 30 year listing as I'd be over 100 years of age if it didn't sell quickly!

Kathy Streib can tell you how crazy the people are in Delray Beach are, haha.

This should be declared illegal of so many reasons. Happy to see it take place in Florida where there still is a semblance of sanity.

I read the story a few days ago. It is so sad that anyone would be so blind and/or desperate that they would take what is a small amount of money to enter into a 40 year contract with a real estate company.

Hello David M. Dwares this is a bad agreement.

For fun, I'll bite and say: As the buyer, I'd counter it out or walk.

It seems deceptive to me. I think the State of FL wins this one

I have seen this mentioned before and say wow.  Thanks for the update.  

Anything that constrains trade and competition seems to draw negative attention from the govt, I doubt that they will allow it.

Good to hear someone is taking this on. 

People are stupid. Do anything for free money. Except nothing is free! When they go to sell, if they get amnesia they're paying DOUBLE
TOTALLY unfair and deceptive! 
A long and interesting discussion about this earlier this year in Peeps. 

If the commission rate is not fixed, I would argue the contract would fail due to insufficient terms.  Being tied to a listing agreement for 40 years, what if the Lender/listing company raised the commission rate to something unreasonable years down the road, despite the fact that all commissions are negotiable.  

It's a form of derivative- Options. While I enjoyed working with derivatives, I don't recommend most to the public unless they are educated. It's the reason why stock market brokerages require the public go through an extra set of qualifiers before being allowed to trade in Options. In this case of an option to list in the future in exchange for a premium today, most of the public isn't going to be comfortable understanding the implications of this. That said- 40 years? Most corporate entities don't last that long and surely most people are not going to remember a broker agreement dated that long either. 

Here in Florida, specifically, inordinately long CONTRACTS have become common place,
Often cited is the BILLION-year contract all Scientologists sign.
The problem with common sense is when one sidesteps it once, it side steps them the rest of the time.
Whether it's a Scientology contract, 40-year listing commitment or a reverse mortgage, all too often the victim admits they FORGET what they did and now expect to be rescued.
The cited event is an example of an extreme way to "BUY" listings.

It comes across as abuse and approaches the fine line in fiduciary and good business practice. Just the obvious fact of "binding" someone is out of place. 

Glad the issue is getting attention. I am sure the 40-year concept is not well explained to customers.

That would be great to go against.  No judge would uphold this listing.

when I started in real estate there was a 1 year time limit on some real estate contracts.  I think listings would be a good thing to have a legal limit that must be renewed with signatures.

Thanks for the link.

I heard about this, and it does sound predatory. 

Not Legal in my State (PA) . 

 Florida to the rescue!