Hello PrettyinPink:

The broker is responsible for the actions of their Associates. If that doesn't work, I would be happy to call the Broker myself and ask to get the HASP code to unlock the lockbox so that it can be removed from your property. A Realtor's MLS eKey is the only thing that can unlock the lockbox... well, that and a pair of bolt cutters (lol.) Did she happen to pick up her sign or is it still on your property too?

I am truly unhappy to hear what a bad experience you have had!!! Like I said before, there are MANY professional and diligent Realtor's. However, just as with everything else, a few bad seeds as well. Again, feel free to call me at (405) 625-1576 or email at Jenn@JenniferSellsOklahoma.com if I can help. Good luck and please keep us posted.

Is she a broker, or does she work for a broker? All agents are licensed under a broker's license. Therefore, the broker is responsible for the actions and inactions of their agents. A call to the broker should fix the lockbox situation. Let us know how it goes. Steve.

I don't mean this to be controversial at all. I am just frustrated that I wasn't being taken care of at the beginning. I wish good luck to the clients she will be representing. Its been a month now that we have signed the release papers and I still have the lockbox with my key in it attached to my house!!

I'm not sure if you are referring to me or not. However, if you are... it is clear that Pretty in Pink had a very bad experience (her own words) and has NOT had professional representation. She has come to Trulia seeking resolution to her current issue. If she had a professional and competent Realtor she wouldn't be asking these questions or seeking help. Yes, REALTOR's are to be held to a higher standard. However, as you, I and plenty others know... many times people do NOT do what they are supposed to do. While I certainly would not slander anyone, I will definitely let a person know my professional and personal opinion when they ask. I will NOT sugar coat it. Unlike some others, I feel an obligation to be honest and not cryptic with my responses. And if you read what my response to Pretty in Pink states, it is "If you are looking for a new Realtor." If she is... my company and I are Single Party Brokers, we work for the benefit of our client. We do not leave our clients in the dark, we make sure they understand the process; if they don't, we walk them through it hand-in-hand (plus much more.) This is why most people hire a Realtor.. because they do not understand the process of selling and buying a home and need guidance.

Jennifer Henning

One of your first considerations when hiring an agent is to understand broker relationships. There are two ways of being represented in Oklahoma. What you need to know is whether you were represented in a Single Party Broker relationship, or a Transaction Broker relationship. In the former, the broker (agent) works to your benefit. That means they work to get you the best deal and best terms. They have your best interest at heart. The Transaction broker is more neutral, simply helping you with the paperwork. So, how were you represented?
Did you read the offer, wherein the selling (buyer's) broker stated how much earnest money is being risked? In the OREC form, there is a blank space to write in the amount, located on page 1 and at the end of the offer contract, the amount is repeated and signed for by the selling and listing broker (agent).

BTW, Realtor is a registered trademark, and doesn't describe all agents and brokers. A Realtor is a member of the National Association of Realtors and subscibes to a higher standard of conduct, which includes the requirement that we do not disparage each other. So, all Realtors are licensees, but all licensee are not Realtors. And it is considered unethical to solicit a listing from another agent's client while that listing is in effect. Just thought you should know.

WOW! I cannot believe your Realtor accepted an offer on your behalf without collecting the earnest monies. I am very sorry you have had this type of experience! Unfortunately, there are Realtors out there that do NOT do their job correctly. However, there are many more skilled, professional Realtors that can and will do the job diligently and correctly, keeping you as the seller mindful with every decision.

You should NEVER accept an offer without earnest money. Earnest money is the ONLY thing that really will keep the Buyer accountable. You have your house up for collateral and the earnest money (good faith) is what the buyer is offering as collateral. You still may be owed damages. It may or may not be worth your time, but I would suggest you speak to an attorney. If you are looking for a new Realtor, I would be happy to talk with you about what my company and I can offer you. Feel free to call me at (405) 625-1576 or email me at Jenn@JenniferSellsOklahoma.com.

Well I was notified after he put in an offer that he DID NOT put down earnest money. That should have been a must and I am not sure whos realtor is responsible in making sure that happens. The only advice that was given to me is that I need to get my house back on the market. My realtor never gave me a copy of the listing agreement contract that I signed 3 months ago. I had such a bad experience with my realtor that I am so scared to trust another one.

We as real estate agents should be very careful about offering legal advice. While it seems to us, who use the OREC form that the buyer may, or may not be in breach, the details of this particular transaction are still very opaque. As stated in the last answer, you should talk to your agent, their broker, and/or competent legal representation. They will be able to describe a "dry" closing to you, or liqidated damages, as called out in the OREC contract.

We all feel for you and understand how frustrating it is to have what looks like a "done deal" fall apart. You may have rights and the possiblity of compensation, but you should act quickly and seek assistance from someone qualified to advise you in a legal matter.

Best of luck.

There is a Time Reference Date in OREC Contract for Sale of Real Estate but the10 days (or whatever amount of days agreed to) is not a time period that allows the buyer to "change his mind" because he has "family issues." The time allowance in respect to the Time Reference Date is a time period for Investigations, Inspections and Reviews to be completed, Financing Supplement are to be complete and TRR must be delivered to seller within 24hours of Time Reference Date.

Pretty IN Pink:

The Buyer is in Breach of the contract (provided you used an Oklahoma Uniform Contract of Sale of Real Estate) IF you, as the seller, have preformed ALL your obligations of the contract and within 5 days after the contract closing date, the buyer fails to provide funds or has NOT performed all the buyers obligations of the contract. If this is the case and he has NO just cause for NOT performing his obligations as Buyer than you could be awarded damages of up to 5% of the purchase price of your home. i.e. if the contract purchase price was $200,000 than your award could be $10,000.

Were you represented in the sale of your home? If so, you should really discuss your options with your Realtor. If you have, I am interested in hearing what your Realtor had to say... if you would like to share.

Jennifer Henning

the excuse was family issues.......i just don't feel this is right at all.

The Oklahoma Real Estate Commission sponsored contract has language that allows for a buyer to withdraw from a contract under specific terms. One of these is that the transaction is subject to the buyer qualifying and obtaining suitable financing, in the event that the buyer does not have all cash. If the buyer withdraws for reasons outside of the contract-stated reasons, then they may have to forfeit their earnest money. I have had such an occurance; the buyer decided that his wife's new job was paying too little, and backed out, in spite of the fact that they qualified with only his income. He walked away from a deposit, an appraisal and a home inspection. In all, he lost over $2K.

You should talk to your agent, his or her broker, and possibly an attorney about liquidated damages.
Best of luck. Steve

Contract are intended to protect the rights of all parties involved in a real estate transaction. If you feel that something is amiss with your experience our recommendation is to refer to your purchase agreement for information that should clarify your situation.

Of course, you are always entitlet to seek the services of an attorney.

Best wishes,

Bill