I'm sure some of us are really bitting our lips on this because we're really limited as to what we can say.

As a "Full Service" Realtor, all I can suggest is that you share your story with others after this.

I really wish you luck!

The funny thing is, I know a lot of this already. That is what makes it so frustrating. I know how contracts work and when I explained it to the realtor, and reassured him that I confirmed with my lawyer and realtor for my next purchase (who have a combined 60 years of real estate experience) about needing the contract prior to placing the home in contingent status, he sent a chain of very insulting and rude emails telling me they do not know what they are talking about and that I am unappreciative. Nonetheless, I spoke with the buyer's realtor today who said he will fax me the signed and completed contract this afternoon. I will pick up the earnest money tomorrow. Hopefully, I will work with him exlusively in the future and things will go forward without any more issues.

Rand,

First of all, please be careful with taking advise from a Realtor from another State. Each State has their own laws.

I hate to say, but you're a perfect example of people who have had a bad experience like this. Right now you just need to make sure that your interests are being watched out for. Make sure the contract has an "attorney review" process. My suggestion is to make sure it's an attorney of your choice and talk to him / her and explain what happened. Yes, you need a completely signed contract in order for the contract to be in full force. Each change needs an initial.

I wish you luck.

JR I agree with you. I am a flat fee broker here in CT. We don't advise, assist in the transaction, or help with negotiations. Not for a flat fee! I have never heard of any flat fee brokers like described in the story above.

What I meant, how do I know my realtor isn't a friend of the buyer's realtor, and since my realtor is not collecting a commission is not really acting in my best interest.
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Your flat fee realtor is not collecting a commission, but they’re negotiating your sale? I have never heard of a flat fee realtor negotiating a sale. I am “friends” with many other agents, and I have no problem negotiating with them. Did you ever see lawyers greet each other before a trial. It would be pretty difficult to have a realtor that didn’t know MOST of the other realtors in their area. In fact, that isn’t a realtor I would want to list my house.

Your whole situation is one of the strangest I've ever heard. The flat fee agent is advising you also? Anyone posting here knows I RARELY comment on a listing agent, but the one you have sounds like a real pip to me.

You just have to do your best, I am not familiar with your laws but check out the code of ethics to see what duties he owes you: http://www.realtor.org/MemPolWeb.nsf/pages/COde

What I meant, how do I know my realtor isn't a friend of the buyer's realtor, and since my realtor is not collecting a commission is not really acting in my best interest.

Woah there Rand, you said an important thing there - the buyers agent is working for the buyer, not for you. Why wouldn't you think that? He's the buyers agent. Something the LA didn't discuss with you obviously. I hope you are using another person that will work with you on your new home purchase.

I appreciate the comments. When I listed with the company, I was under the impression that they were not going to be that involved in the selling process. But when an offer came through, he wanted to negotiate on my behalf. He called me and encouraged me to call him back with questions. And then when I had problems with him telling me my home was contingent despite not having a contract, he became very angry and told me I am not appreciative of his help, and he will just cancel the contract if I was so unhappy. Clearly this person is not acting in my best interest, and I do not want him doing anything on my behalf. How do I know that the buyer's realtor isn't a friend of his, and therefore not really representing me? It truely feels like that. But despite all this, if the deal does go through (today hopefully), then I will not be too worried about listing with the flat fee company. It saved me a LOT of money, and with the current value of my home, I would not be able to turn around and buy without that extra 6K in hand. And any loss I take, I will easily make up on the buying end myself, so we'll keep our fingers crossed that the official signed contract comes through today!

David,

I was trying to be helpful. I advised him to go to the managing or principal broker to get his listing set back to active.

What if those showings that cancelled would have brought a better offer? What if he can't get his listing set back to active? Maybe after a bad experience like that he would have thought it better to use a full service agent. I'm just pointing out that the flat fee company already has made their money. A full service agent has to get the transaction through to closing. Most full service agents would be making sure - even of the 4th of July - that there was a good solid contract before taking the home off the market. If this company doesn't get him to closing, he's out that money for the listing. Maybe a short sale, with a good short sale specialist who coud get no recourse on the difference, would have been preferable to Rand in hindsight.

Rand, sorry if you interpreted my post as David did. It's hard to "hear" tone via text, but mine was one of sympathy and education.

Most flat fee brokers do not get involved in the transaction, as I do not... The story doesn't make sense.

This is why I was confused about the question from Rand. So if Rand is referring to the buyers broker, then it's a whole different story.

It is easy to bash flat fee MLS Company. Question here is agent is not doing his job whether full service or flat fee. Accepting lower fee for listing does not relieve you from responsibility of representing your clients. Full time or flat fee brokers sometimes want to make short cuts and this might be one of those situations. Tell your broker that you will accept terms in writing from the buyer.

Marilyn, do you really need to be like that with someone who needs help, do some research on Rands profile you will see why he didn't use a full service agent.

I think a lot of these problems could have been avoided by using a full service realtor. Even if the agent to whom you're referring is not the MLS agent, the lack of an agent to truly represent you has put you at a disadvantage. If the agent is the flat free agent, keep in mind you've already agreed to limited services. If the agent is on the buyer's side, you don't have an agent to deal with that agent for you.

If this is the flat fee agent, and the agent doesn't even understand that there's no contract until both parties signed, think about where else this agent could have gone wrong? How can you be sure you're getting the best deal if you don't have a professional on your side?

It may be nearly impossible, but try to speak with the principal or managing broker at the flat fee agency to get your house set back to active. A lot of buyers use this holiday weekend to house-hunt.

Realize you do not have a contract until both parties sign - and you can withdraw at any time before receiving the other's side's signature(s).

Even though this is a holiday weekend we still consumate real estate deals by fax, email, and just plain old getting in the car & driving to your house (or the buyers house). The fact that it's a holiday shouldn't stop anyone from finalizing that contract. Maybe your broker thinks he is selling too many homes this weekend? Very odd that the contract is taking a back seat to a BBQ.

I am confused about your question. Is all this coming from your "flat fee broker" or is it coming from the agent/broker representing the buyer?

Rand
The key to your issues is "to what did you and your agent agree?"

Read your listing agreement. The agreement states what services will be provided.

Any advice that you receive should come from a professional that has read all of the documents.

In a contract nothing is considered unless it is in writing. Documents need to be signed, or excecuted, by the parties, or they are not enforceable.

You can complain to the Dept. of Real Estate. Look up your agent's license number and find out if they are a broker. It they are an agent, then they work under the supervision of a broker. Contact the broker if you have a complaint.

I would try to communicate in written form (fax or email) so you can document your case.

Good luck.

I do have an attorney and of course I have called him. Being the holiday weekend, I haven't heard back. Apparently the buyer is out of town for the holiday so the contract I have signed is just sitting in limbo awaiting signature.

Is there any litigation I can take against our realtor? Or reporting to the licensing board? I am just so offended at the complete lack of concern for my interest, lack of reasoning skills, and lack of common real estate regulation. I will most certainly report to the BBB, but is there anything else I can do?

Why is the agent jumping the gun putting your home as CONT? You are indeed entitled to the signed EXECUTED contract. If the buyer didn't sign it, you should still be showing it. Contact your attorney so he can direct the agent on your behalf. You've got an attorney, use him/her to handle this for you.

You are lucky to receive an offer on your home so run with it if you can. Good luck. FYI all real estate transactions don't have to turn out so nasty.

Good call Bill, remember Rand you told us you had an attorney before, use them.

Rand,

You are correct in questioning this situation. Our recommendation is to be in touch with an attorney for the purpose of reviewing all documents relative to this transaction.

This action should not cause a problem witht the agent because it is common for agents to refer their customers to consult their attorney should they have any questions about their contract. There are obviously questions that you need clarified.

Good luck

You especialy need a copy of that contract, the buyer is having his attorney review it and you need to review it.

Obviously something does not seem right here. Your attorney will need a copy of the fully executed contract so my suggestion is to have your attorney call the agent first thing Monday morning asking for the contract. He/she cannot proceed until they have it so it is a very simple reasonable request. Good luck and I hope everything works out with the sale!
Greg/REMAX

Furthermore, my realtor told me that I can make an offer on a home contingent on the closing of my home with a contingent contract despite not actually having a contract. He also told me that I should continue to show my home and accept offers despite a contingent contract (pending contract is contingent on financing only), and if I have a savvy lawyer, they can get me out of any contract.

What are my options here? I don't want to anger the realtor. We are close to selling and I don't want them to do something to retaliate. But throughout my questioning of all of these things, particularly the fact that my home is contingent on the mls despite not having a finalized contract, he has treated me with a great deal of disrespect, essentially calling me stupid and telling me that I don't know what I am talking about.