Special offer

I Never Thought it Would Happen to Me- A Lesson Learned

Reblogger
Real Estate Agent with Intero Real Estate Services, San Jose, Silicon Valley 01505493

Interesting how many posts were received on this blog. Please read! In this competitive, often cut-throat market, we are all dealing with this issue at some point. Buyer broker agreements are rarely used in our area, however I have been on this end as well, and like some of the ideas, such as having the first meeting to show a home, then having them sign the agreement. You have given them something of value and they need to reciprocate. Too many people think we are making loads of money, and we can afford to work for free, or just don't care about others. I thank the stars everyday for some of my great, considerate clients!

Original content by Kristi DeFazio

So, this is a post where I get to vent and warn others. I always thought that if I built good rapport with my potential buyer clients that they would be loyal to me. Wrong. I use to make EVERYONE sign a buyer agency agreement before viewing homes. I strayed from my rule a bit with some new clients. She works for a reputable Christian organization in town and he is in the same line of work as my husband- Great Rapport going on here!

They were an adorable, sweet young couple, looking to buy their first home. I met them at one of our listings. I asked the question if they were working with an agent. The answer was NO. She explained how they were pre-approved with a lender who is a family friend in a town that is 150 miles away.

After our intial meeting, we set up a time to spend the lunch hour looking at homes, then after work doing the same. We saw several homes and they found one they liked. We had a second showing on the home and although they liked it, they thought they should wait. A couple of weeks later, the favorite home had a nice price reduction. I got a call from the clients to see the home one last time with a family member before writing an offer.

Tonight at 9:00 p.m. I get a call on my cell. I think she was going to leave a message, but I picked it up. She proceeded to explain to me how the "Family Friend" who is doing the loan told her that she is also an agent and needs to write the offer so she can give her back her commission. What? She told me she felt terrible for my time wasted and how I took great care of her finding her a home. I proceeded to tell her that I thought her "friend" was a little unethical.

So, if you are reading this and you are a potential buyer client of mine, Please forgive me when I demand a buyer agency agreement before showing homes. I will go back to my initial way of doing things. I learned a valuable lesson today that I use to know before I let my ever so trusting guard down. Shame on me.

UPDATE!!!!

THE LENDER CALLED ME AND I FOUND OUT THAT SHE IS THE STEPMOM! SO THIS IS A PARENT/CHILD RELATIONSHIP AND SHE WAS DOING ALL SHE COULD TO HELP THIS YOUNG COUPLE GET INTO A HOME. SHE WAS GIVING THE LOAN TO SOMEONE ELSE IN THE OFFICE, THEN AS A RELATIVE SHE WAS GOING TO GIFT THE COMMISSION FOR DOWNPAYMENT TO THEM. SHE WILL MAKE ZERO ON THE DEAL. SHE SAID SHE EXPLAINED TO HER STEPSON HOW THIS NEEDED TO WORK AND NOT TO GET ANOTHER AGENT INVOLVED. THE SON NEVER TOLD THE WIFE AND DIDN'T REALLY LISTEN TO STEPMOM (TYPICAL KID, HUH?) I DEVELOPED THE RELATIONSHIP WITH THE WIFE (EVEN THOUGH SON CAME TO SHOWINGS AS WELL)

BOTTOM LINE IS THAT THEY CAN'T GET THE HOUSE WITHOUT HELP OF STEPMOM. THEY ARE YOUNG AND GREEN AND NAIVE AND LENDER IS NOT THE BIG BAD EVIL PERSON I THOUGHT.

IF I WERE A MEAN PERSON I COULD STICK TO MY GUNS ON THIS AND DEMAND COMISSION. IN THAT CASE THEY PROBABLY COULDN'T GET THE HOME ANYWAY. THEY REALLY ARE A NICE COUPLE BUT IGNORANT TO THE CONSEQUENCES. I TRY TO THINK OF MY OWN SON AND HOW HE DOESN'T LISTEN TO ME MOST OF THE TIME. SO, BOTTOM LINE IS I AM STEPPING ASIDE. SHE DID SAY THAT MAYBE THE COUPLE WOULD SEND ME REFERRALS TO MAKE UP FOR MY TROUBLE. THAT WOULD BE NICE, BUT I AM NOT HOLDING MY BREATH HERE. I DO BELIEVE IN TAKING THE HIGH ROAD. THANKS FOR ALL OF THE SUPPORT AND ADVICE. ACTIVE RAIN IS SUCH A GREAT RESOURCE!

Posted by

Lisa Wiseman

Comments (3)

Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I think if you have been in Real Estate any length of time it has happened to you.  Sorry for the problem.

Jul 16, 2010 06:46 PM
Bill Dean
Haggerty Team St. Louis, Mo. - Fenton, MO
William Dean - Broker, Salesperson

Yep,

it has happened to me AFter I had been in the business for 6 years and my buyer didn't have a good reason in fact tried twice to lie and say they were not buying for another month when they had a closing already sched. with another agent  You live and learn!

Jul 16, 2010 08:08 PM
Don Spera
CR Property Group, LLC - East York, PA
Serving York and Adams County, PA

It is really hard not to take things personal in this business.  You just have to pick up, brush it off and move on.

Jul 17, 2010 02:20 AM