A Tough Real-Estate Question to Answer!

A Tough Real-Estate Question to Answer!

I was asked a very interesting question about real-estate; I think it’s worth sharing in AR! Recently I was asked if it’s legal what their listing agent did, “the sellers found out after escrow closed, the buyers ended up being the cousins’ brother in-law to the agent, and the agent doubled ended the listing” (Got paid for both sides, the buyer and seller)!

For those real-estate consumers unaware, the laws and rule of real-estate vary from State to State. There is Article 4 of the NAR’s code of ethics which clearly give wiggle room to this listing agent. The code reads clearly; there would be a violation if the buyers were a member of his “immediate family” There’s some other language that could technically not violate the code of ethics.

I further explained my position on this matter. Obviously if the agent was did not hide any information that needed to be disclosed, it’s most likely going to hold up. I also explained, “A Realtor shall not acquire an interest in or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entries in which they have ANY ownership interest, any real property without making their true position know to owner or the owner’s agent Broker”!

A Tough Real-Estate Question to Answer!

Like I explained early this real-state question is very complicated, there was much more information needed to see if the agent acted negligently or in error! It’s obvious the seller could have paid the agent less paid more attention, but since the sellers signed the escrow instruction to pay their agent both sides of the commission, they have very little action of recourse. Bottom line for me was, any agent that acts in a deceiving way won’t be around for long, history proves that! A Tough Real-Estate Question to Answer!

Think about what’s right and then do it; I say; “It’s harder to do the wrong thing verses doing the right thing”

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