Ok, Now I know what your going to say...why not?  

Well, let me tell you why not..... if I am doing Real Estate full time I wouldn't dare be able to properly keep up with the legalities, new forms, laws, inventory, prices, marketing, servicing the listing etc.. if I were also doing the loan and keeping up with the daily rates, lenders, loan programs, new laws, forms and also servicing the loan to my clients best interest so why do lenders or real estate agents cross over that line and do it all the time? 

 Ok, first let me put in a disclosure..if your doing it for yourself or brother and they do not expect marketing, follow up, up to date forms, law etc... thats another story. Its their/your backside on the chopping block  but as long as you guys are both OK with that and advise the agent on the aother side , that is doing work for both parties, just so they can know what they are getting in to.  

But just this week I had a horrible experience and I've had it about up to here (you can't see me but I have my hand over my head:) 

Forget all the inaccuracies in the MLS but he listed the home for Sale and also for Lease or Lease with Option to purchase.  We took the latter method. There were 2 other lease contracts on the table (no options). He told me upfront that he had never done a lease option/purchase before so I would have to guide him....no problem, thanks for the headsup !

 I sent him the Lease, Option and purchase contract along with an increased monthly payment of $300 (so they would be picked over the other 2)  and we already had an agreed upon detailed assesment of how the option would work as well (via email) so I wrote it up verbatum. 

I got a 2 page letter back with all 20 pages of contracts, the cashiers check and personal checks that he required saying that none of the option is applicable because his seller now only wants to lease it out now for the increased amount (none of which will go towards down payment)  and by the way, write all new contracts...... yeeeeek.  (the new contract requirement was because of a typo on the address that I made because he made us get him all the contract within a couple hrs...no problem it was my mistake but it could have been cleaned up in a counter) But now he wants the increased amount in rent but nothing to go to his loan!!!!!!

Here is what I found out in the end..... he never ran the options by his client, he only sent over what he thought was best. Can I just tell you that the email was titles.... "If you want to go the option route, here is how it must go: "   mmmmmmm sounds like the seller has already set his parameters right?...not! 

All this and my clients are 1.5 hours away, love the home and since his orginal verbal acceptance, put a 30 day notice into their apartment complex (premature I know, but I wasn't aware they did that until it started getting bumpy)   So I had them call the apt. complex, find out how hard it would be to stay so atleast that pressure wasn't looming over their shoulder guiding them into the wrong decision. I needed them to think clearly. 

This lender/agent did not disclose to his client all the things going on so I put it in a letter in return(the same way I got a counter offer with time constraint) giving the seller a specific idea of how he is making money by going our route and the lender/agent was mad because I was writing a letter and not just re-writing the contract which is one the first ways I figured out that his client (out of state) had no idea he was negotiating and make decisions on his behalf.  He told me not to write the letter because he would just reject it anyway..... (who is the principle here, him or his client?)  I went ahead and submitted new contracts, a counter offer because he didn't want to write one because he doesn't have winforms (computer generated) and also attached the letter to his seller as an addendum on the counter in hopes that his seller actually would read the letter.   

 We got a counter (wala...he can hand write!! no computer form needed) with another letter attached, but no acceptance of my first counter showing that the seller had actually seen it.  

You know what....I'm not even going to finish how he now sent over a counter to reduce my commission etc  (we paid full price by the way)...it only gets worse but we did end up finishing the deal and my clients loved the house so much that they took his bait.  I also know the buyer can not sign a counter confirming that my commission will be reduced but I will address that in a year when we close escrow....UGH  ! 

Lenders and Realtors.....please stick to what you do best and protect your clients, don't get greedy and try and wrap up commission around every corner. Don't try and pretend to be something your not!    It doesn't even matter if you refer off the loan to one of you employees, atleast someone else is physically focusing on and concentrating on what is best for that client.   Do what's right, refer it out to a lender or realtor that is serious about their business and does it full time.  No matter what, you win because you get a referral fee right (most of the time)  I never accept a referral fee my lenders but that's me.....

Am I wrong here ?