A tale of a day in the life of a real estate agent...

By
Real Estate Broker/Owner with 406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty RRE-BRO-LIC-75443

Once upon a time, Bobby the Buyer was interested in purchasing an investment rental property. He saw a multi-family building that was listed online with no pictures other than an outside shot, and he decided to contact a local real estate agent to see if he could get more information.

 

So Bobby called Roxanne the Realtor to see if he could get some assistance. He indicated he would love to know what the property really looked like, and would there be any chance Roxanne could provide more information? Roxanne planned to set up a meeting to discuss Bobby's needs in more detail before doing too much research, but she realized she would be driving by the property in question the next day anyway, so it wouldn't take too much extra work to check it out herself. She made a confirmed appointment to preview and take photos of the place in question, and off she went camera in hand

 

After a tour of the property, and the collection of additional photos, Roxanne shared her thoughts and pictures with Bobby. Bobby in turn was quite appreciative, thanking Roxanne for her diligence and time, and asking if he could see the place himself.

 

So one fine morning, Roxanne met Bobby and his wife for an in-depth look-see of the property. Bobby was quite impressed and decided this was the right place for him to start investing in this town. Market analysis was discussed, agreements were signed, an offer price was decided upon, and hands were shaken. And during this discussion period, Bobby looked Roxanne in the eye and said, "I want you to know that in addition to being an attorney, I am a non-practicing but licensed real estate agent and I want you to know I know all about fiduciary responsibilities and I commit that this will be a fiduciary relationship."

 

An aside to those who may not know what a real estate agent's fidiciary responsibilities are, the short explanation is that it represents an ethical relationship of trust with the person they are working with. It includes things like maintaining confidences, and being loyal. It's a big deal and is part of every excellent agent's credo. Roxanne was surprised to hear a buyer say those words, but happy as well. This should be quite a smooth deal, she thought.

 

So Roxanne went off with paperwork in hand and a bounce in her step, and she made the offer.  After some back and forth, an offer was accepted and the building inspection was scheduled. Because of the size of the building and some issues that needed to be addressed on different days, the first inspection was scheduled and successfully completed with both Bobby and Roxanne in attendance. The purchase process was moving forward and all looked rosy for both buyer and agent alike.

 

And then the gears ground to a halt. Bobby stopped responding. He did not answer phone calls or texts or respond to emails. As he was representing himself as the attorney, calling the attorney produced no results. He missed due dates and a month later, the deal died. Bobby made Roxanne look foolish as she didn't know what was going on or where her buyer disappeared to. She found some evidence that suggested Bobby may have moved forward with a for-sale-for-owner property in the same area, but that was not proven. Bobby just went "poof."

 

So Roxanne turned her attention to other clients, clients who truly wanted the assistance of this wonderfully attentive and skilled agent. She spent a few minutes thinking of the lack of fiduciary behavior demonstrated by Bobby and then she said, as all real estate agents learn to do, "Next!!!!"

 

The End.

 

Note: the publication of this blog on the same weekend as "Love your Lawyer" day is totally coincidental.

Posted by

 

Kat Palmiotti, The House Kat

Licensed Broker, CBR®

 

Blackstone Realty Group - brokered by eXp

P.O. Box 10458

Kalispell, MT 59904

 

email: kat@thehousekat.com

www.thehousekat.com

 

406-270-3667 (MT)

 

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Ambassador
4,381,184
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Kat- as they say - no act of kindness goes unpunished!  Too bad there are so many "Bobbys' out there. 

Nov 07, 2015 01:01 AM #6
Rainmaker
1,649,495
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Kathy - There are quite a few Bobbys, but good thing more people are not like him.

Nov 07, 2015 04:44 AM #7
Rainmaker
1,682,389
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

That sounds familiar. We had some buyers go poof 3 days before closing.  They found another home they liked better and bought it through another agent. Then they couldn't understand why they didn't get their eanest money back. It was their new agent that asked for it.

Nov 07, 2015 07:18 AM #8
Rainmaker
1,649,495
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Larry - Wow, that would be frustrating! That poor seller.

Nov 07, 2015 08:01 AM #9
Rainmaker
4,798,978
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Kat.  I've found that those clients who claim their allegiance to you the loudest are the ones most likely to betray your trust.

Nov 07, 2015 08:37 PM #10
Rainmaker
1,649,495
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Gabe - I agree. Just like the ones that say "trust me"

Nov 07, 2015 08:42 PM #11
Rainmaker
2,360,923
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Kat. This stuff happens, fortunately not very often. So many things could have been done better with this scenario.

Nov 07, 2015 09:44 PM #12
Rainmaker
1,507,325
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Sounds, you let him go away too easy. And how you can cancel an escrow and release his EMD without his signature? 

Nov 08, 2015 03:03 PM #13
Rainmaker
1,649,495
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Joe - Yes, they could have.

Inna Ivchenko - This story takes place in a state where offers are made, then inspections are done and then contracts are prepared. The offer was made, negotiated and accepted and inspection done, contracts prepared but not signed. So escrow wasn't an issue yet. 

Nov 08, 2015 06:37 PM #14
Rainmaker
1,377,444
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Hi Kat,

As Deepak Chopra would say: Let it go...  


Thanks!

Nov 09, 2015 07:32 AM #15
Rainmaker
886,156
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Wow Kat,

                 That really is something else, sure his reputation will follow him. I hope he did his due diligence on the FSBO property but sounds like he most likely did not....

Nov 11, 2015 06:13 AM #16
Rainmaker
1,434,894
Yolanda Cordova-Gilbert
Richmond, TX

Kat,

 I truly believe in Karma! It always comes back good or bad!

Nov 13, 2015 07:02 AM #17
Rainmaker
1,649,495
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Wayne/Jean Marie - I heard that Roxanne did let it go!

David - I'm thinking Bobby the Buyer did not.

Yolanda - I think so also!

Nov 13, 2015 08:40 AM #18
Rainmaker
3,251,955
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Kat

Real estate is always interesting . . . . Thanks for sharing the story.

Good luck and success.

Lou Ludwig

Nov 13, 2015 12:52 PM #19
Rainmaker
880,810
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

I guess he will not be getting any referrals from you. And I certainly wonder how an attorney disappears?

Nov 14, 2015 08:07 PM #20
Rainmaker
1,649,495
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Lou - Thanks for stopping by.

Janis - That's for sure (regarding the referrals). He disappeared to me; I'm sure his clients could find him!

Nov 14, 2015 08:35 PM #21
Rainmaker
846,576
Barbara Altieri
Kinard Realty Group Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Kat -- I totally agree with Gabe Sanders .  I had something similar happen a few years back.... but by an attorney???   No... 

Nov 15, 2015 10:05 AM #22
Ambassador
3,985,919
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have seen the same trend as Gabe Sanders that the ones that say it the loudest are the ones to watch.

Nov 20, 2015 10:00 PM #23
Rainmaker
2,249,108
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

There are a few good attorneys and lots that can't be trusted. This one had a motive right from the start and it's people like him who try to intimidate other people that should be reported to the Bar.

Thanks for sharing the story. You"re  great one to do business with, that's for sure!

Nov 21, 2015 02:39 AM #24
Rainmaker
4,433,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing your story. Unfortunately there are some people who do not appreciate  the work we do for them.

Nov 22, 2015 08:06 PM #25
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