MSNBC's Donny Deutsch Backstabs Broker: Ordered to Pay $1.2 M

By
Real Estate Agent with Engel & Volkers - St. George Utah Luxury Real Estate

 Donny Deutsch backstab does real estate broker

Providing further evidence that unscrupulous people come from all walks of life: a New York judge ruled yesterday that Donny Deutsch, from ‘The Big Idea’ on CNBC, scammed his Realtor out of a commission worth approximately $1.2 million. Ouch!

According to online reports, Justice Charles Raymos noted that Donny Deutsch had the scruples of Gordon Gekko – "Greed, for lack of a better word, is good." ~ Gordon Gekko. While Donnie and Gordon might concur that Greed is Good, the judge wholeheartedly disagreed. Differing with the "Greed is Good" notion, the judge ordered that Deutsche pay his broker's commission to Sotheby’s … totaling $1.2 million.

 

Thank goodness for swift justice.

 

Comments (5)

Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Alex: Wow! CNBC should have second thoughts about the integrity and continued employment of Donny Deutsch. I am so glad the Court sided with the agency on this one.

Oct 31, 2014 02:19 AM
Alex Yeager
Engel & Volkers - St. George Utah Luxury Real Estate - Saint George, UT

 Agreed ... 100%!! 

 

Oct 31, 2014 03:52 AM
Mark Wagner Jr.
Zion Realty - Gilbert, AZ

Wowsers! I guess you gotta be careful who you trust!

 

Oct 31, 2014 08:47 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Alex, well now that's a great way of describing the guy.  Let's just hope the agent he screwed has a written agreement of some sort!  Still, not nice, Donny!

Nov 04, 2014 09:36 PM
Erick Blackwelder
Cell: 703-677-1120 - Woodbridge, VA
Text or call Erick now at 703-677-1120.

I took a listing agent to arbitration at the Board when she claimed at settlement that I was not the procuring cause.  The buyer got very chummy with the listing agent while the house was being built, and was willing to go along with the agent's ruse.  

My assistant and I walked in to the hearing with a long, thick, detailed time line of phone calls and emails from Top Producer in hand.  The listing agent had a 4th generation of a portion of the contract, and a copy of a cell phone bill.

When the members of the Board asked about events, I was able to go to our records and say, "Well according to our records, we received an email from the listing agent on (date) saying, ......."   "According to our records, we sent a letter to the buyer on (date) saying, ........."   "According to our records, my assistant called the buyer, and the conversation went as follows:.........."

All the listing agent could do was say, "Well I think I called...."  I recall sending an email...."  "I don't recall getting that letter...."  "I don't recall that meeting."

We agents were excused from the room.  We were called back less than 5 minutes later.  The Board ordered the listing broker to pay the coop commission to us IMMEDIATELY.

What's the lesson?  He/She with the most documentation wins.

Nov 05, 2014 02:53 AM