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Real Estate agent Lying - Question
That is really bizarre. Maybe one of LIF's agents can jump in here.......
He could lose his license for something like that, I believe - if you were able to prove it.
Some info:
: How do you make people aware of an unprofessional real estate agent? I want people to be aware of this one agent who cost us a potential sale because of her unprofessional behavior.
A: If you’ve had an unpleasant experience with either a listing agent or a buyer’s agent, you should first contact the managing broker or owner of the firm and schedule an appointment to discuss the situation. You should calmly discuss the problem and ask the broker to resolve it for you, either by bringing in the agent so everyone can air their grievance or by speaking directly to the agent on your behalf.
If that doesn’t solve the problem and you have a legitimate grievance, you can file complaints with the National Association of Realtors (if the agent is a member) and local and state association of realtors. The governmental department in your state that regulates real estate agents and real estate brokers may allow you to file a complaint against the agent with that office. You can go online to the Better Business Bureau and file a complaint there as well.
While it may help you feel better to file a complaint, it’s unlikely that your agent will lose his or her license because of it. I suppose if the behavior was egregious, your state may take some disciplinary action.
But before you go down the war path with the agent, it’s worthwhile first trying to talk to the person that supervises that agent in the local office or regional office for that agency and then move up the chain of command to the owner if you do not feel your concern has been addressed property.
Lastly, while you say the agent was unprofessional in selling your home, there are times when a seller’s perception of a problem may not rise to a level that can actually be considered a real problem by most real estate professionals. You might want to discuss your situation with an unbiased person in the real estate industry to determine whether a problem is grave enough to merit more of your time on this issue.
Ilyce Glink is an award-winning, nationally-syndicated columnist, television reporter, radio talk show host and bestselling book author. Her syndicated column, Real Estate Matters, appears in more than 100 newspapers and Web sites.
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Re: Real Estate agent Lying - Question
I am not sure I understand the situation. I think you are saying that you were negotiating a price for your house, and your listing agent told you that the buyers wanted you to come down another $1K. And the listing agent told you that he is already cutting his own commission in order to make the deal work. Then, you later found out -- after your dh called the buyer's agent -- that the buyers had accepted the deal and did not want you to come down another $1K? Is that correct?
If that's correct - there's a lot going on here that isn't quite right, in my book.
1) It wasn't ethical of the buyer's agent to speak to you (assuming he's representing/working for the buyers, and not a subagent of your agent, representing you). It's akin to a lawyer talking to his opponent's client. It's not ethical and should not be done. Communications with the buyer's agent should be made through your own agent. (Also not sure why your dh would directly call the buyer's agent instead of working through the agent you hired!)
2) I don't understand why an agent would offer to cut his agreed upon commission to "make a deal work." No agent I know would do that - that's not on the table when you are negotiating the sale price of a house. If you have a listing agreement with your agent and you agreed to pay him x% (and he agreed to offer out x% to a buyer's agent on MLS), then that should be that. It shouldn't be renegotiated along with the price of the house and other deal terms. But in any case, if you were agreeing to sell for a certain price based on the fact that you will be paying your agent less commission than stated in your listing agreement, you should have that in writing from his broker. The listing agreement is really with the broker that the agent works for, so the agent (unless he's also the broker/owner of his company) doesn't have authority to cut his fee without his broker's consent.
3) It seems like you are upset because, from what the buyer's agent told your DH, it looks like the your agent was dishonest with you and causing you to lose $1K unnecessarily. But I am not sure how this would benefit your agent? A lower selling price equals less commission to him, and even if he was trying to jack up the price, $1K is like $20 more in commission if the agent is getting 2%, $30 if he's getting 3%, etc.. So not sure what the motives are here.
But be that as it may, I would first talk to your agent. Explain what happened and see what his answer is. Perhaps it is a misunderstanding, or perhaps the buyer's agent was less than truthful. As I said, I am not sure why he was talking to you at all without your agent's knowledge/consent, if he's representing the buyers. Why are you assuming that the other agent is telling the truth and your agent is lying? If the buyers have accepted your price, have you seen a written signed offer to that effect? Have they scheduled a home inspection? (Because these are things I do asap when I am in a buyer's agent.) Are you going on anything other than the buyer's agent's word?
Anyway, if you are not satisfied with your agent's response when you talk to him, then raise it with his manager or broker. But assuming your agent is in the wrong, you should also think about what resolution would satisfy you... do you just want to know the truth? Do you want to reduce the commission owed to your agent? Do you want him to be disciplined or sanctioned in some way?
As a last resort, you can always file a complaint with the NY State Department of Licensing. All agents are licensed, and licenses can be suspended, revoked, etc. Your agent owes you, as a client, certain fiduciary duties (loyalty, confidentiality, etc.). He basically has to act in your best interest. If he didn't do that, you have a valid complaint, but keep in mind that unless you have a paper trail (emails, etc.) it can be hard to prove any wrongdoing.
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