Unbelievable real estate agent - Posted by Barbara (ME)

Posted by NJDave on June 04, 1999 at 16:22:08:

#1. We have no idea if this real estate agent is, in fact, a “Realtor”. As you may not know, “Realtor” isn’t a generic term for a real estate agent. “Realtor” implies a paid membership to a specific trade group…

#2. If a Seller gives specific instructions to his/her listing Broker regarding the presentation of offers including, but not limited to amount, terms, closing date, etc., and providing that those instructions do not violate any specific fair housing or discrimination laws, the Broker or his agents are not required to present offers that are contradictory to those specific (lawful) instructions…

The Seller may instruct the Broker, “don’t waste my time with anything less than $X, or with anything less than a 20% downpayment, or any offer that proposes that
closing is later than 90 days…” And the Broker must abide by those instructions because they do not violate any discrimination laws…

If the Seller were to instruct the Broker that he/she would not consider any offer at any price from a Martian or Plutonian, the Broker would decline the listing because the Seller’s (unlawful) instruction clearly discriminates against Martians or Plutonians.

Unbelievable real estate agent - Posted by Barbara (ME)

Posted by Barbara (ME) on June 04, 1999 at 06:26:47:

I went with my son and wife to the real estate agent’s office yesterday so they could sign the purchase and sales agreement on the owner financing they are buying. The agent could not have been more obnoxious.First she didn’t like the idea I was so familiar with closings.

The seller had given my son a break and agreed to a 8.25% interest rate and she angrily ranted over this and said “I definitely would have told him not to do this but he wanted to give them a break” as if this were a terrible crime.It obviously does not affect her commission. She also was bemoaning the fact that since it was owner financing “The seller had to pay the commission out of his own pocket”. This is a well-to -do seller, and I feel if he agreed it was none of her business.

We had obtained a lawyer to do a title search and the agent insisted that we also had to hire this lawyer “for $200 or $300” to do the closing and I strenuously objected. The seller is in Manchester VT. and it is such a simple transaction it would be simple to do it by mail.She said this lawyer would have to pro-rate the taxes. It is also in the signed agreement (which I pointed out and she also didn’t like) that the seller’s lawyer would prepare ‘all papers necessary for the title transfer’. She said “she would have to call the seller and get back to us” as she didn’t like that either…I have no idea why and it is already a signed agreement anyway.

I got the feeling she might have gotten a kickback from the lawyer if we had had him do the closing. She also couldn’t wait to recommend an insurance agent which of course we ignored and went somewhere else. I can’t believe people act like that.She is bad for business to say the least.My son and wife were so excited and she threw a wet blanket on the whole affair.What a pill.

It just so happened too that the lawyer’s paralegal is my neighbor and I talked to her later and she could see my point and had no problem with it. She didn’t have any good to say about the agent either.

I have no problem either paying $11 to register the deed rather than paying a lawyer to do it :-).And if my son and wife could use the agent’s counter to sign the purchase and sales agreement and disclosure forms they can also sign one or two other papers there esp. since the agent is getting $3k commission and never even showed us the house as we got the key from the seller.
Just my .02
Barbara (ME)

Re: Unbelievable real estate agent - Posted by ROD(GA)

Posted by ROD(GA) on June 04, 1999 at 19:16:41:

OK, lets’s cough up some names here and check out the RE agent, the lawyer and the all the nasty uninformed participants.

Re: Do Me and Other Professional Agents A Favor - Posted by Gary

Posted by Gary on June 04, 1999 at 19:11:00:

Anytime anyone has to deal with an unprofessional . . should not be in the RE business . . . does not know what his/her duties are as an agent . . . and does not know how to provide proper service to buyers and sellers, tell them to “pack sand.” And that’s a quote from a full time REALTOR. We as REALTORS do not need those kind of people in our profession. Tell their local board so we can get the “want to be’s” out of the business.

Sorry, I get very upset when I hear about how unprofessional some RE agents can be. I hate working with agents like that. I don’t think they take the profession very seriously. Who needs them, I don’t.

Sorry, about agents like that in my profession.

Gary

Re: Unbelievable real estate agent - Posted by Rob FL

Posted by Rob FL on June 04, 1999 at 14:57:28:

It is sad to see people like this. There are miserable, negative people in every profession. Unfortunately being in a profession like RE, you can’t just sit back and collect a paycheck–you are on straight commission. Your reputation precedes you.

She is very fortunate that you didn’t hire your own agent to represent you. Then she couldn’t have told you any of that garbage and her commission would get split in half.

Unforgettable realtor story - Posted by Ben

Posted by Ben on June 04, 1999 at 08:00:21:

I recently listed my home and received a decent but not spectacular offer from a buyer that my realtor had located (i.e. since MY realtor also found the buyer she would not have had to split her commission with another realtor).In the inital stages of contract I got a call at home directly from another realtor (bypassing my realtor which is unheard of) telling me that she represented a buyer who was willing to pay MORE than asking price for my home, that she had approached my realtor with this offer and was told to
"GET LOST!". (All I can assume is that my realtor wanted the entire 6% to herself, rather than 3% of a higher offer)Talk about breach of fiduciary responsibility. Needless to say, I killed the original contract, went with the new buyer and tore my realtor
a new one!

Re: Unbelievable real estate agent - Posted by Sandy FL

Posted by Sandy FL on June 04, 1999 at 07:57:26:

Yeegads, that sounds like one burned out, meddlesome, has-to-be-in-the-middle-of-everything RE agent.
Goes to show when you know what you are doing, you recognize the gambits they use in throwing their weight around. It sounds to me as if you kept your head, and in the end, you and your son prevailed. It shouldn’t be such a struggle, should it.

Still, way to go. Congrats! :slight_smile:

sandy

Re: Unforgettable realtor story - Posted by George

Posted by George on June 04, 1999 at 23:29:57:

It is unfortunate, but this is quite common. It not only happens when the listing agent has the potential buyer, but even when another agent in the same office has the buyer. Good for you that you recognized the situation and acted upon it. I think you should file a formal complaint with the proper authority in your state.

Re: Unforgettable realtor story - Posted by Tim

Posted by Tim on June 04, 1999 at 14:50:23:

Ben:

I am no expert, but as far as I know, in all states a realtor must present any and all offers from whatever source they come, including other realtors. You’re right, your realtor breached her fiduciary responsibility, but she also probably broke the law. You might report her to the local real estate board so someone else who counts on her to look out for their well being doesn’t get royally screwed.

Tim