Referral

By
Real Estate Broker/Owner with William Raveis

Our best friends decided earlier this summer to put their house on the market and to move up to a larger home. I referred them to a great realtor in their area.  This agent has a very strong business with over 30 current listings in the area and a strong career of closing sales.  We negotiated the referral fee and I sent over the referral fee agreement.  After 3 weeks, as my friends were preparing their house for the market, I asked again for the referral fee agreement.  "Of course, I'll send it over today.” was the response from the agent.  6 to 8 requests later, over 2 months, and only 2 weeks prior to closing, I gave up and had to contact the agent’s manager.  

About an hour after I sent out the email, I received a call from the agent saying that she had faxed it into our office last week and had a confirmation so I must have received it.  After going back and forth I asked if she could send me the confirmation as I was now concerned that we are not receiving all the faxes that are sent to our office.  Somehow she just didn't think she could fax me the confirmation.  Later that day I received the referral agreement via fax.  Clean as a whistle.

The point here is that even the "best" of agents are not really great.  I can't understand how you can run a successful business and not pay attention to the details.  When I get a referral, I sign and return the agreement the same day; sometimes the paper will be still warm from the fax machine.  I want to lock that referral up as soon as possible - wouldn't you?

As the deal has moved forward, I've been in close contact with my friends and the "issues" they've had with the agent.  

One example is the agent faxed over an extension to mortgage contingency at 4:47 on a Friday saying that my friends need to sign and return by 5:00.  Appraisal was in and all set.  Closing was set for the following Friday.  When my friend called me asking what she should do, my first reaction was what did the mortgage broker state was the issue?  Is there documentation that is missing?  Is there a problem?  The 'top' agent that I referred stated that they didn't know.  How can a listing agent send an extension to a mortgage contingency to their client without knowing why the other side needs this extension?  Isn't this their job?  

Very disappointing.

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