This story appears in the NOV / DEC issue of Commonwealth magazine in VA. Names are changed for this blog post. The story is about an agent for XY Realty that had a client named PJ Buyer that was buying a home. The deal fell through. All parties signed a realease, and EMD was returned to PJ Buyer. BUT, XY Realty discovers that EMD deposit was never received-only an emailed copy of the check. The agent just ASSUMED that his/her client would follow up his emailed copy of the check by sending in the actual check, but agent never verified that actual check was delivered. Agents principal broker immediately reports the violation.
During agents interviews with Real Estate Board, agent blamed the mistake on the office, saying he/she depended on the office staff to make sure EMD deposits were received. " Anytime I forgot or didn't submit something to my office in a timely manner, I was always called immediately," he/she said, "although the Board pointed out that a follow-up phone call would have ensured that the deposit was in hand." The agents handling of the Board interview didn't help his/her case. "According to reports, agents demeanor during his/her testimony appeared arrogant and indignant for needing to explain his/her actions." Agent failed to "appreciate that with the priviledge of being a licensee comes the responibility to comply with regulations."
Agent was fined $750.00 and required to complete 4 hours of continuing education. Agents license was placed on probation for 6 months.
" APPRECIATE that with the PRIVILEDGE of being a LICENSEE, comes the RESPONSIBILTY to COMPLY with REGULATIONS."
I sometimes wondered if the listing agreements and/or contracts, amendments, etc have been received by my office, and have been filed in the proper place? I use to think agents could rely on office staff to handle all hand delivered, mailed, and faxed paperwork that I send in to the office. However, I quit doing that a while back. Faxes get lost, part time help works on the weekend, and things can be misplaced. I now mail with delivery confirmation. I send hard copies and a digital file that I save so I know when I emailed a pdf. I also send an email to the office asking for confirmation that they received all paperwork. ( Phone calls can be easily forgotten, and there is no way to prove that I called so and so at the office on x date, and she said she did receive the mail or fax or EMD check that I sent or dropped off 3 months ago.
Jeff Pearl / REALTOR
RE/MAX Distinctive / Lic in VA, MD, DC
(703) 727-4876
jeffpearlhomes.com
jeffpearlhomes@gmail.com
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