Recently, an agent tried to get me to sign an agreement to pay his firm 2.5% of a sale purchase agreement.
Okay, normally, when you purchase a property, the Seller pays a "marketing fee" and that fee is usually split between the procuring broker and the listing broker.
In this transaction, I am the listing broker.
It has to do with five multi-family properties I have listed.
The agent sent me a form to sign that would have held me and my company liable for commission even though there was no buyer mentioned in the form.
Now, having the experience I have in my near 28 year real estate career, I have only run across this scenario once before.
It's a backhanded way of stealing commission from a broker.
You see, if I signed this form, this agent could in turn claim a commission if I sold the property to a buyer NOT affiliated with the agent -- even without this agent involved -- the form states that I would owe them part of the commission.
Not going to happen.
I work too hard for the little money I earn.
Anyway, the agent called me. I politely took the call. And, he began to invalidate and bully me because of my steadfast refusal to believe his truth from another point of view!
His bullying included insults for not seeing this his way of trying to earn a procuring commission by stealing.
I told him that this call was over and I hung up. I even blocked his number.
Anyway, who needs this attitude.
This guy is an idiot! Fortunately, I am smarter than the average bear to NOT be stupid in signing away a commission to an agent who comes across as sleazy.
I proceeded to persuade another buyer to make an offer.
We'll see what happens.
=)
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Okay, normally, when you purchase a property, the Seller pays a "marketing fee" and that fee is usually split between the procuring broker and the listing broker.
In this transaction, I am the listing broker.
It has to do with five multi-family properties I have listed.
The agent sent me a form to sign that would have held me and my company liable for commission even though there was no buyer mentioned in the form.
Now, having the experience I have in my near 28 year real estate career, I have only run across this scenario once before.
It's a backhanded way of stealing commission from a broker.
You see, if I signed this form, this agent could in turn claim a commission if I sold the property to a buyer NOT affiliated with the agent -- even without this agent involved -- the form states that I would owe them part of the commission.
Not going to happen.
I work too hard for the little money I earn.
Anyway, the agent called me. I politely took the call. And, he began to invalidate and bully me because of my steadfast refusal to believe his truth from another point of view!
His bullying included insults for not seeing this his way of trying to earn a procuring commission by stealing.
I told him that this call was over and I hung up. I even blocked his number.
Anyway, who needs this attitude.
This guy is an idiot! Fortunately, I am smarter than the average bear to NOT be stupid in signing away a commission to an agent who comes across as sleazy.
I proceeded to persuade another buyer to make an offer.
We'll see what happens.
=)
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
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