Don't Be a Bully

You hear a lot of talk these days about children being bullied on their way to school, at school, and on their way home from school.  Parents are told to watch their child's behavior and ask about their child's day to see if there are any signs that their child is being bullied.

I am sad to report that bullying doesn't just stop in the schools.  I have found throughout my years in real estate that there are agents who I would categorize as bullies.  I'm sure you have similar stories.

My second year in the business I was helpinga very dear friend purchase a condo.  My client was well-qualified, owned their own business, and had a large down payment and large earnest money deposit.  Things were moving along nicely and the lender said we were a go.  So when the listing agent sent over the Notice to release the Financing Contingency, my client had no problem signing it. 

Just a week later, and five days before settlement, on a Friday afternoon at 4PM, the lender calls me to say they couldn't do the loan.  My stomach started churning and all I could think about was my friends' $20,000 earnest money deposit...now at risk.  After calling my client, who was completely shocked by this news, I called the listing agent.

This is where the bullying began.  She was literally yelling and screaming at me.  She acted as though this was somehow my fault.  She said that her client had already moved out of state and that he was not willing to move the settlement date and that my client would be in default.  Her client, she said, would be keeping the earnest deposit.  Needless to say I was sick all weekend, but there was nothing I could have done.  I just didn't understand why this agent was beating ME up!

On the following Tuesday my client and I show up for settlement, although a settlement would not be taking place.  We were all there...the listing agent, the seller, my client and I.  My client and the seller started chatting and found they had several things in common.  My client explained what happened with the lender and told the seller that another lender was already working to get the deal done.  I will never forget how unbelievably pleasant and gracious the seller was and asked how much time was needed.  He gave my client three more weeks to get the loan processed and my client agreed to pay a portion of his closing costs.

And just that fast, the transaction was back on track!  Throughout it all the listing agent was noticeably quiet.  To this day I don't know what all of this bullying was about, but I do know this...it was completely unnecessary.