I recently took a listing in a community where a friend of mine, fellow agent in the same office, also has a listing. He has had this listing I think close to a year and the owner refuses to lower the price to market level so there it sits with no offers.
He has held numerous open houses with some degree of success and has reaped some sales from prospects visiting.
I took this listing as a short sale from another friend, a victim of the market down turn. Both husband and wife were once in the business. With various complication surrounding this short sale we needed to get this home on the market and sold quickly with the bank hopefully cooperating.
When I took the listing I didn't know it was around the corner from my friend's listing I did know it was in the same community.
So we hold our first open house. Now this home is probably one of the nicest and biggest home in this community and it has been vacant a few months so needless to say we had pretty good response to the first open house. Everyone want to know what's up with the house?
So second day, BOOM, 2 offers. One submitted by another agent and the second was one that I wrote from a visitor to the open house. When I went to the buyers home to get paper work signed I realized it was right around the corner from my friend's listing.
Well it turned out the gentleman that signed with me had visited other open houses in the neighborhood including my friends listing around the corner some weeks back.
He had told my friend he was waiting for his house to sell so he could buy another and he gave his contact information to him. Weeks had gone by and the agent hadn't contacted him and, YOU Guessed it, he calls him the day after he signs the contract. The buyer tells him he signed with me. When I went back to drop off copies the buyer tells me the agent called and in the conversation said "I thought you were going to do business with me"? The buyer said to me "I don't know where he got that idea I never told him that". Also he has no buyer agreement. Now I'm feeling uncomfortable
Now understand I didn't pursue this buyer. He and his wife came in to the open house, I did the regular song and dance, we talked a long time (he likes to talk) and they said they would think about it. He also mentioned they were leaving in two days to close on their home in another state. He calls me that night and informs me he wants to submit an offer so I go the next day to have him sign the papers.
SO, I get the call. "Ralph I respect you and we've been friends but this has been bothering me for a couple of days..." And I also respect him we have been friend for about 2 years now. So I explained to him how it all went down. He says I could have called him and I asked why, the buyer gave me no indication that you had a relationship with you other then a couple of conversation at your open house. "Well I was going to call him at the beginning of the month but I forgot and I call him Monday 2 weeks into the month.
Well, he was upset, but what I could do I had already written the offer but I didn't think he had a good argument in the matter and I don't think I have done anything wrong.
So the conversation went on, and he asked, that in the event the deal went through if I would be willing to do a split with him. I responded I didn't think that was fair I didn't understand why he thought he was entitled to split. He then asked well if the deal doesn't go through if I would mind if he would continue to work with him to find him a home and I explained to him no, I do have a buyer's agreement. I don't think that went over very well, he seemed more agitated at that point. The conversation ended with me asking well are we still friends? He responded yes but I don't know I don't think I've heard the last of this.
Here is the kicker. When my friend took this listing he was doing the paperwork and came in to ask a question I noticed the owners name and guess what, I was also working on getting the listing. I had already submitted a CMA and had several conversations with the seller. He was an out of state seller so neither of us had met him only phone calls. So when I mention it to him I'm sure he felt a little uncomfortable and I told him don't worry about it just go on because the seller hadn't returned phone calls, you got the listing. DONE.
My thoughts are ...
If it were another agent that was not a friend would he have made that call?
The buyer had visited other open houses also in the neighborhood and maybe had left contact information with them too.
Was I not to hold an open house in his turf? HMMM
Would I have made the call? NO! I've lost plenty of deals to other agents and I've learned, NEXT! It's not worth the time.
Would he do the same under the circumstances? I don't thinks so. (He made the call)
Because you talk to a prospect that doesn't make him a client until you actually do business with him.
In the same manor because if I go on a listing appointment that doesn't mean I'm entitled to a listing, I'm talking to a prospect.
I don't think if the deal doesn't go through its fair to hand the client over, the client made the choice who he wanted to work with and being a husband and wife team it has helped us attract clients. If at some point the client takes a hike that's his choice and I would release him from the agreement and I would call my friend and say he's all yours. I don't need the grief.
Chances are I'm going to continue to run into people he has already talked to in future open houses.
I am really troubled by this and we may lose a friendship because I think he is unreasonable.
WHAT ARE YOUR THOUGHTS IN THIS SITUATION?
We appreciate your comments
Ralph
;)
Links;)
Tags (Tag Cloud);)
Archives
Ralph, you didn't do anythin g wrong. He missed the boat by not calling the buyer sooner, and like you said, the buyer has even siad to you that he didn't know where your friend got the idea he was working with him. Your friend should know better, and it's a lesson learned from him.