If you felt your agent didn't practice ethically, and as a result of her substandard service your house didn't sell...and eventually ended up in foreclosure what could you do? Do these people answer to anyone? Have you known someone this happened to?
2006-12-13 12:39:24 · 7 answers · asked by J O 2 in Business & Finance ➔ Renting & Real Estate
I believe my realtor did not put bids in, or try to sell the house, because she wants to buy it. She advised me yesterday to let her buy it so it wouldn't foreclose.
2006-12-14 02:01:04 · update #1
i do not know if you can claim that your agent didn't practice "ethically" just because your house did not sell. you need to ask if she falls into that category by calling:
1. her managing broker, but don't say anything about her not being ethical, just call the managing broker to ask questions. make it a very light conversation. ask for advice on why your house did not sell.
2. the local board of Realtors that she belongs to.
3. the national association of Realtors as it applies to their strict code of ethics.
4. your real estate attorney, who may or may not know about a licensee's required ethics.
ask yourself, did your licensee EVER say to you that she would be your "agent?" then look up the word "agent" and "agency" in the dictionary. if i am your agent, it means that i put your interests above my own. the fact that your house did not sell means that certainly, my interests were not met at all because not only did i not make my commission share, but because you are dissatisfied with my service and could badmouth me without knowing what agency means.
you should pull out the paperwork, i.e., the "comps" that she brought to you when you listed your house. did you listen to her on how you should price it? did you do what she advised? if you listed your property for too high of an asking price and it did not sell, then blame yourself.
the worst thing a seller can do, particularly in this buyer's market, which really is bad for a seller, is to overlist the property at the very onset. the beginning of the listing period is when your house shows up on the database sheets as a "new" listing and will be given far more attention to those that have been there for a while. if you did not price it to sell, then that's why it didn't sell.
i know that some people feel that their licensee was not acting on their behalf simply because their homes were overpriced for the marketplace of the times, and especially for their location and condition. then after a lot of hard work on the licensee's part to sell it, and it has not, the seller gives the listing to a different agent for a lower price. now, that is very unethical of the seller.
you can obtain a list of the Realtors' code of ethics by going to the national association of Realtors website and contacting it.
2006-12-13 12:58:57 · answer #1 · answered by Louiegirl_Chicago 5 · 3⤊ 1⤋
Regardless of whether the home sold promptly or not, you cannot hold anyone responsible for you failing to make your payments and falling into foreclosure.
Home sales have slowed dramatically these past few months, and if you set your purchase price based on how much you needed to get out of the home, rather than what the market could actually get you, again that's your responsibility.
All agents do their best to sell the homes they have listed. They only get paid if and when the sale closes, so it's unlikely she really did anything unethical. If you saw even one offer come across to you and you declined it, you pretty much have no standing to complain.
2006-12-14 03:10:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your state has a real estate licensing board - contact them, but you will need sound proof of wrong doing. Just because you think it should have sold in a shorter period of time will not be enough. The market in many areas of the US took a nose dive these past few months after some ungodly inflation. Track houses that were getting purchased in bidding wars are now sitting for months with no interest. So get your ducks in a row and check with the licensing board.
2006-12-13 12:52:34 · answer #3 · answered by justwondering 6 · 2⤊ 1⤋
An in-residence sale signifies that they make extra fee at the sale. I could hinder that variety of agent looking to steer you in that path. A well agent will exhibit you comps for the vicinity and take a look at to get you to make a aggressive bid with out getting indignant or steerage you to an in-residence sale. A little study for your possess will move a ways with reference to expertise winning values in neighborhoods you're involved in. Remember by no means lose sight that handiest you may have your exceptional pursuits at middle.
2016-09-03 12:56:35 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Your question is vague so i'm stuck with these questions ,what is your house worth ? what do you owe ?did she advertise ? put it on the mls ? did you foreclose and lose it to the bank ?are you behind on payments ? why did you decide to not make payments? what did you feel she did or didn't do? foreclosure happens to lots of people and being honest with your broker and upfront about your problems or expectations is key
2006-12-13 14:08:08 · answer #5 · answered by Mike N 2 · 1⤊ 1⤋
I hate to tell you, but go to the Real Estate Commission in the state. Their license can be revoked. More than likely, if you were in a house that you could not afford, look at your lender.
2006-12-13 12:47:24 · answer #6 · answered by Carrie W 2 · 0⤊ 1⤋
If they are a REALTOR, file a grievance with the local board he/she belongs too. If they aren't, contact your state licensing department with a complaint.
2006-12-13 13:56:21 · answer #7 · answered by Karen R 3 · 0⤊ 1⤋