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I recently just got my real estate brokers license.  I haven't officially become a Realtor yet, I've been busy and I'm also waiting for my first listing.  My focus is working with investors and buyers.  I've got one of the greatest clients in the world, I just wish they had more money, but we'll definately get a couple of properties acquired quickly.

I'm showing my client around Southwest Denver. 

Price change Denver

This is one of the areas I'm targeting to become an expert in for rentals and fix and flips.  My client is also on the same page that this is a good area.  (If you want or need more explaination of this map please contact me directly).  We're tourning about 8 properties in the area and in the course of driving we go by an open house sign.  I suggest that we take a look at it.  He agrees, we want to see how finished properties in the area look like and what they are going for.  It's an excellent way to look for comps in my opinion.

We walk in as the agent is setting up and she greats us outside and we walk into the house.  My client is walking first and he introduces himself.  I'm right behind him and I say that I'm the agent and Jon is the investor.  The broker says to Jon, "I've got several more properties that are coming available in the next several weeks."  Then she hands the card directly to my client.

I'm a little shocked by this.  I thought that was a big no-no.  Is this an ethical or legal violation or merely poor behavior?  Does it matter if they are an agent or a Realtor?

I've got a great relationship with my client and we laughed about it in the car after looking at the house.  I'm looking for ideas on how to handle this in the future.

I'm a mortgage broker as well and I'm familiar how other brokers always try to steal or undercut your price.  As a broker my philosophy is to keep my clients happy and they won't leave.  I thought Real Estate brokers had different rules.

 

 

 

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Colorado Real Estate license FA100027713

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Mike Henderson specializes in the following areas in real estate in the Denver, Colorado metro area; investors, first time homebuyers, luxury property, short sales, and light rail properties.  Of course I can also provide financing or refinacing across the state of Colorado.

 

 
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14 Comments on I this broker behavior unethical or illegal - Did this just happen to me

MAR
10
2009
570,152 Points 120 Featured Posts Outside Blog

the other agent sounds clueless. You need to discuss this behavior with her and perhaps her managing broker (if there is infact such an animal).

You also might consider making this post "private" for agents only, rather than airing for the world to see our dirty laundry.

 

9:38am • #1
247,036 Points 1 Featured Post Attended Rain Camp

Benefit of the doubt- maybe the other agent didn't hear you or understand what you said? I would probably have brought it up right then (or at least called the other agent later).

1:23pm • #2

Hey Mike, I would just call him to "re clarify" that when you said you were his agent.....it was meant to be taken literally. Bringing it up on site would have worked as well.  Also when you call him, just ask him to let YOU know when those homes are ready so you can bring your client by. Good luck.

5:15pm • #3
124,162 Points

Kristal - Thanks for your response.  I enjoyed meeting you at the Bigger Pockets mixer.

Prest - I have no doubt that the other agent heard me.  I'm a loud talker.  I'm a former telemarketer from my late teens and early 20's.  I also used to do stand-up comedy.  They have got to be able to hear me.

Josh - Thanks for commenting.  I appreciate it.  We will have to get together when we are in the same zip code. 

 

Thanks for all the comments.  I haven't had this happen yet so I was unsure of what to do.  The other agent is lucky I was in an easy going mood.  I can blow up like a professional and have the tenacity of a pit bull.  I'm letting this one go.

 

Has anyone else had problems like this ever?  I've only shown about 30 houses in my career so far, and I was shocked.

5:22pm • #4
1,479,384 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

I dunno, Mike!  This one sounds a little like tacky behavior to me.  I wouldn't go it.

5:35pm • #5
MAR
11
2009
124,162 Points

Tough call.  I know how to respond in the future.  I might of done something, but when we were meeting for lunch afterwards to set the price for the offers, "I said, &(*& that ^^*^)( and threw the card away.  Bottom line is that it is not going to help my client buy a house or make me any money.  Life goes on.

The next time ....

2:00am • #6
MAR
14
2009
270,216 Points 2 Featured Posts Localism Sponsor Outside Blog

I think I would give her the benefit of doubt and maybe she didn't think about what she did.  If she was still setting up, she may have been flustered and someone being there already and not listened very well.

10:49am • #7
MAR
15
2009
109,685 Points Outside Blog

Hi Mike,

I actually had a listing agent request to be at a showing which I was fine with.  I was showing the home to a man and woman who had their two year old with them.  He knew the property and pointed out all the little things I would never had known.  However he did take the opportunity to walk off a little ahead with the man while I was trying to keep pace between both parties. 
He proceeded to ask the man what price range they were looking in and was talking about his other listing.  I was MAD to say the least.  My client did NOT appreciate his pushy ways either. 
The weekend before last I had another encounter with a different agent who was coming out of a home and introduced himself to my clients as one of the builder's reps.  He was such a fast talker.  My clients said it was a good thing I wasn't like him or they wouldn't be working with me. 
I guess my point is, you always have someone trying to one up you but that is why YOUR clients are working with you :)

5:26pm • #8
MAR
24
2009

It isn't illegal, just unethical... Buyers are free game. You can't cross the sign with a seller (In other words you can't do your sales pitch when a seller is listed with someone else).

Have a great day.

3:10pm • #9
MAR
25
2009
124,162 Points

Thanks Jeffrey for answering the question.  I'm a fairly new agent and all the little wierd things like this make a agents job more difficult. 

I just want to learn all the rules and then I'll figure out my approach to them.

12:00am • #10
MAR
29
2009
293,976 Points 2 Featured Posts

Did you have a exclusive representation agreement with the buyer? if not he may not have crossed the line to (too much)

Always get your repersentation agreements signed and it can save a lot of problems.

11:16am • #11
124,162 Points

Yes I did.  In this situation though there was no way for the other agent to know whether I had this or not.  They didn't ask and it was in the first 30 seconds of meeting them.

5:26pm • #12
228,467 Points 10 Featured Posts Localism Sponsor

Mike, if I were her, I would have done it differently.  I would have handed the info to the agent.  On your part, you should have walked in FIRST and introduced yourself FIRST, then the client 2nd.  Then she would have known that you were the primary spokesperson for the group.

Kudos to you for starting your business at the point of "lowest prices" in decades! 

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Regina P. Brown

11:37pm • #13
MAR
30
2009
124,162 Points

Thanks for the good advice.  The first person to mention this idea.  My client was driving.  So when we stopped he was closer to the house.  I'm not a big fan of I always have to walk in the door first etc.  Of course that happens 95% of the time.  It's vacant so I've got the lockbox code or it's owner occ and I'm the one who knocks on the door. 

12:22am • #14

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Mike Henderson 303-949-5848 HUD Home Hub

Littleton, CO

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View from the ground level in the Colorado Mortgage and Real Estate market. Areas of Specialization 1) Investors 2) First time homebuyers 3) Luxury Properties 4) Short sales 5) Light rail properties Financing for all the above type transactions whether you are looking for FHA, conventional mortgages, 203 (K), streamline, hard money, private money, or non traditional financing like lease options I can help. Subscribe in a reader


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