I was the buyers agent on a single family home purchase. An agent in my office who knew my buyer, went to the buyer and had him cancel the purchase, then he rewrote it with the buyer's brother-leaving out all the important details of the home purchase-like the fact that both walls in the home were filled with black mold, the house is leaning on the one next door and doctored the appraisal to trick the lender into giving a higher loan-it was over a million dollar transaction! In the process I was cut out of the deal. Apparently it was legal and I have no recourse. I really, truly think that was a sneaky and very unethical thing for that agent to do. I want to get him back...any suggestions?
2007-10-19 15:04:32 · 14 answers · asked by iliketodreambig 2 in Business & Finance ➔ Renting & Real Estate
What the other agent did was crappy; a violation of ethics.
File a complaint with the RE Commission and move on.
if the house was in the condition you say it is in, and you are an honest agent with an honest appraiser, the loan would never have been approved, you would never have closed, you would never have collected a commission. So, bottom line, other than getting snaked, what did yu really lose?
P.S. If your broker doesn't fire that agent...MOVE!!!
2007-10-19 15:24:48 · answer #1 · answered by Anonymous · 1⤊ 0⤋
First of all the mold is a material fact. Is this the same home you were selling the buyer? Did the buyer know about the modl when he was buying from you? How did he trick the lender in giving a higher loan? Did you have a Buyers Agency Contract with the buyer. Ok I see he put it in the buyers brothers name. I believe he has broken some kind of REALTOR code of ethics. Not sure what Article or not. What does your firm say about this. In my firm we all work toghether and we don't back stab each other. We are in Business together as all REALTORS should be, we sell each others listings. Hope this helps
2007-10-19 15:21:48 · answer #2 · answered by Broker Lisa 2 · 0⤊ 0⤋
Nothing illegal or unethical about it unless you had a buyer representation agreement and you have PROOF that the other agent contacted your client directly and not via the brother (which i'm guessing happened). If you do have a buyer rep agreement and he did contact your buyer (rather than the buyer contacting him/her) than it is certainly unethical (See Standard of Practice 16-5 & SOP 16-9, in the Code of Ethics) and probably illegal (See Tortious Interference).
I don't condone what the agent in your office did and the person above who said they won't be in the business long is most correct but the tougher the market gets, the more likely unscrupulous agents will do crap like this - or much much worse.
Good luck to you.
2007-10-19 17:35:29 · answer #3 · answered by Jericho Parker 2 · 0⤊ 1⤋
If you had a buyer brokerage agreement with your original buyer, and it can be shown that he was involved in the final transaction, you can sue for your commission. You should also notify your broker that you are filing an ethics complaint with your state's Real Estate Commission against the agent in your office who undercut you. It is your responsibility as a Realtor to report the fact that you believe mortgage fraud has occurred as well.
2007-10-20 05:44:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You need to speak to your managing broker about this unethical and possibly illegal action. I do not know where you live, but in MY state, an agent who acts as this person has would be disciplined by the local real estate board after a complaint is filed, and compensation would be awarded to you. Your first act should be to attempt to settle the situation 'in house'. If your managing broker does not cooperate, look further into filing a complaint with the local MLS or similar agency which mediates such situations.
2007-10-20 00:41:59 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
An agent in the same office with you? What does your Broker say about it?
Please don't tell me you never informed the Broker and just want some "revenge" on the advice of "legal experts" here.
2007-10-19 16:13:31 · answer #6 · answered by REALTOR 3 · 0⤊ 0⤋
Realtors have a strict code of ethics and I would think that unless the laws are vastly different in your state than in Florida that this is grounds for loss of license as well as potential litigation from the buyer for non-disclosure and even fraud.
2007-10-19 15:11:59 · answer #7 · answered by Bobcat 3 · 1⤊ 0⤋
At that age it relatively is practically impossible. I propose you stumble on a replica of the greater youthful author'S industry and positioned up your tale to markets indexed in it. Your mom and dad will ought to sign any contracts with you on the grounds which you're under the age of 18.
2016-10-07 06:19:40 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Where was your broker in this picture? What did the disclousures say from the seller?
Perhaps the facts should be sent to the department of real estate with a complaint from you.
2007-10-19 15:23:24 · answer #9 · answered by Jimmy 5 · 0⤊ 0⤋
I wouldn't worry too much about it. If this agent keeps doing this kind of thing to people, he will earn himself a bad repuatation and word will get around to not use him.
Agents thrive off of referrals (as you know) so if he gets enough of a bad rap, he may be forced to even go to a different area.
People get theirs in the end, don't worry.
2007-10-19 15:13:28 · answer #10 · answered by Jenny A 3 · 0⤊ 0⤋