Welcome to the place where you can talk about Real Estate or financing. With all the transactional details and the constantly changing laws it can be very confusing. Here you can ask any question and receive an educated answer so you can make an informed decision.

Saturday, May 12, 2007

Unethical real estate agent

As a consumer you may have experienced a real estate transaction where the agent was just flat unethical. If you haven't had that experience you are lucky. I want you to know that unethical agents also are unethical to his colleagues.

I was working very hard for a client we will call him Jack. Jack was an awesome guy. He was young, witty, and a joy to work with. We showed him a ranch that he truly loved. We worked endless hours getting him the information he required to make a sound decision in whether to make an offer or not.

Jack asked for a referral for a ranch consultant to assist and guide him to develop his dream on this ranch. We referred him to a local advisor. Someone in his family heard about another advisor out of the general area of where this ranch was located. We will refer to him Dick. Jack meet with Dick. Only to find out later that this consultant told my client Jack that he too was a agent and if he would let him represent him as a buyers agent than Jack would not have to pay his consulting fee because he would get paid a commission. Well, of course, what a great deal for Jack. Jack did not understand that Dick was completely off base and cross the ethics line. Jack went there for ranch consultation and agent Dick interfered with the relationship between us.

Dick came to my office unannounced to introduce himself to me. He proceeds to tell me that Jack was now his client. I could not believe the lack of professionalism he had. He stole my client then wanted me to pay him for it. Just goes to show you that some agent really don't have any class, respect, or integrity for themselves.

In the end, Jack lost his dream. Agent Dick presented a very unrealistic offer, and being an agent out of the area did not serve Jacks best interest at all. Matter of fact, Jacks agent Dick did not even want to submit a real offer on the appropriate form and truly did not understand the real estate process nor land values in the area. That really proved our thoughts we had of him. Dicks drive for greed, his lack of experience, ethics, integrity shined through with flying colors. I feel really bad for Jack. I hope he learned a lesson and that he contact us to help him again.

Meanwhile I presented another opportunity for my Sellers and it was a much better for them financially. Now you know the rest of the story...