How many of you have had this happen....
You've got a client, and you're diligently searching for property for them. You send them listings, you take them out on the weekend and show them 10 - 20 homes, you follow up, and basically spend your very valuable time... for FREE... because you want to help them find a place to call home. And all of a sudden...
They stop returning your calls. You're not sure why, but you get that sinking feeling in the pit of your stomach. So you keep trying, maybe even call from different numbers. And finally, you get a hold of them only to hear something like this...
"You know, we were out driving around a few weeks ago and we saw this open house. So we went in and it was the house of our dreams. The listing agent told us the only way we'd even have a chance would be if we wrote the offer on the spot. So we did! We never thought we'd get the house, but we got it!"
The Q and A that follows never makes much sense.
"Why didn't you call me? I would have come down right away and written it for you?"
"Well, she told us the only way to make the deal happen at the price we wanted to pay was for her to cut out one of the commissions."
And you believed that?
"You didn't tell her that you've been working with someone for the past 6 months?"
"She asked us if we had signed an agency agreement, which we said we hadn't. So she told us technically we don't have an agent and anyone can write the offer for us."
Technically? Sure. Ethically? ARE YOU OUT OF YOUR MIND?
"Why didn't you tell me any of this the last time we spoke when I mentioned that I saw of couple of homes you might want to see and you said you were taking a break for a while?"
"It all happened so fast, we weren't sure what to say."
Ummm... the truth would have been fine.
I believe buyers know when they're doing something wrong, and the disappearing act or lack of communication happens because the truth doesn't sound that great. But is this the buyer's fault or the listing agent? Hard to say I suppose. Personally, I'd give the listing agent about 75% of the blame and the buyer 25%, and here's why.
The listing agent knows how much time, energy, and work goes into showing property. Almost every listing agent I've ever known IS a listing agent because they sure don't want to be a buyers' agent! So the second you hear someone has been working with an agent, to blow that off without thinking about how much work that agent has already put in, in my opinion (and this is a blog, so it's just an opinion), is repulsive.
As far as the buyers, they just want a home. Don't get me wrong, I'm not taking away their responsibility in this at all, but they don't really understand our job the way the listing agent does. In this instance, these buyers in particular are very intelligent people, and absolutely should have known better. Not all buyers are as well informed though, but the listing agent always is.
You see, what the public en mass doesn't seem to realize is that we can check most of these things after the deal closes. We can check public records to see how much the loan is, we can look in the MLS and see who the agents are, and calculating the commission is extremely easy (plus in this case the listing agent was quite proud to list herself as the selling agent, showing that commission amount as well).
I believe in karma, maybe too much. And I believe it will come back around for this listing agent. I can guarantee this isn't the first time she's done this, and it probably won't be the last. So should I do the same, since it doesn't' seem like anyone ever gets caught? After all, I'm owed one now, right?
WRONG. Karma does exist, in one way or another. Something will come back to me to make up for this, and I don't need to hurt someone else to make it happen. As for the buyers, I'm glad they got a home.
I really am. That's why I tried so hard to find them what they were looking for! Yes, of course, this is our job and we do this to get paid, but I love finding someone a place they can call home. It's rewarding for me, and it's a hard feeling to replace.
Did they do the wrong thing? Yes. Did they know better? Of course. But ultimately, they found a home, and maybe, just maybe, all my hard work kept them out their looking. Should I have been compensated for my work? I sure think so. But you know what they say...
What comes around goes around. It will all work out in the end... right?
*** Hey guys and gals, I appreciate all the great comments! Just an FYI since I see a lot of people mentioning it, Buyers' Agency Agreements are not commonly used in my area (see Comment #21) and would not have mattered in this scenerio. Either way, it's the lack of ethics and morals that concern me.
If we all act as we should, a BRE (that's our form) would never even be necessary. Thanks!!! ***
Karma exists. Always do the right thing. You'll feel better about yourself. And it will come back to you in time.
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