Where is the Ethics?
By: Elaine VonCannon, REALTOR, SRES, ABR, NOTARY PUBLIC, TEAM MANAGER, PROPERTY MANAGER
A REALTOR in Richmond Virginia has a listing on a foreclosure home. My Friend (yes the one I always blog about), had this as a listing before the 80 something young owners let it go in foreclosure. You see the property was their son's and they had co-signed for him to buy. But fate stepped in and the poor son was killed in a motor cycle accident. So the nice little couple was stuck with a farmhouse. Now, this gets even better the REALTOR WHO SOLD THEM THE HOME WENT TO CHURCH WITH THEM AND DID A DUAL AGENCY. Yes, no home inspection.
So when you walk into the house it leans on one side and you can tell it has major foundation problems. Well, it went into a short sale. Experts were called and verified that there were major foundation problems with this home.
Ok as the plot thickens, the listing expired and the bank who now owns the property gives the listing to a REALTOR in Richmond. The REALTOR lists the home, he must belong to the a group of folks who has visual problems with telling that is straight and what leans. Or maybe he walks tilled so when he is in the house it seems OK to him.
Well, my friend being the nice person she is. Let the other REAL OR know about the issues with the home. As she has clients who is looking in the price range that they have the home listed and she had hoped that the problems with the crooked home had been addressed.
NO WAY..........THE OTHER AGENTS SAID "I DO NOT KNOW OF ANY PROBLEMS WITH THE PROPERTY." Well he does now as she told him. He said it was "as is".
NOW HE KNOWS AND HE HAS CHOSEN NOT TO DISCLOSE THE INFORMATION. THIS MAKES THE PROFESSION LOOK BAD.
WHAT DO YOU THINK?
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