Do you pay for being honest?

By
Commercial Real Estate Agent

Have you found that when you answer a question honestly that you are then taken advantage of by another agent or a client and then somehow left in the cold on a deal?

scared

Recently I was working with an agent who submitted a back up offer on a piece of property that I had listed and was currently under contract.  That property had a long feasibility as development would be difficult.  The agent then goes directly to the buyer and pursues a ground lease for the site - which isn't a bad deal for me, it means I still will get the closing of the sale.

As of a few days ago I found out the tenant just terminated their lease and will not be moving forward.....this particular buyer had hung their hat on the tenant and was moving forward using them as the sole tenant for the entire property.  Now we are back at square one and the developer may not close on the site due to losing their tenant.

We never did sign their back up offer but I am curious if this particular agent has requested his clients to act in this way so they might have a shot at purchasing this site if it does come back available.

Have you ever had this happen?  Share with me!!!

Comments (2)

Bill Carroll
Corcoran Real Estate - Westhampton, NY
IN REAL ESTATE, REPRESENTATION IS EVERYTHING
Ryan, we see so many things in this business you just never know until it all plays out. I find there are agents out there that are very comfortable doing something that is legal, albeit unethical. These times especially invoke questionable behavior. Lets hope not in this case. Good luck
Oct 26, 2007 09:34 AM
Jacqueline Fortier
JC Penny Realty - Davenport, FL
Homes for Sale in Central Florida

I hope not Ryan but you never know.

Some people think of the almighty dollar instead of the unethical behavior. I agree with Bill and hope an agent wouldn't go that far for the money.

By the way..I really like your logo.

Oct 26, 2007 11:13 AM