I believe a condo listing Agent pushed an offer to a Seller so they would receive both commissions. Counter expired in 3 hours. Unethical!

Asked by Curiousinfh, 20884 Fri Mar 16, 2012

Is it illegal and can I do anything about it.

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12
Annette Law…, Agent, Palm Harbor, FL
Mon Apr 30, 2012
Illegal? Unethical?
Why are folks so eager to fire those shots across the bow whenever they get there shorts in a bind.

You would be well advised to understand there are many, many more protections provided the buyer in the purchase of real estate than available to the seller. A buyer typically has more outs than auditorium.

Now, from what I read, the listing agent very likely saw the need to get the buyer to 'fish or get out of the boat!" Such a short acceptance period is unusual and certainly cuts to the real motivation of the buyer. Are they a tire-kicker or a buyer...you've got three hours to decide. The reality is, the buyer already knew the answer, now the seller and listing agent knows also. There are many things a real buyer could do, but from the data you shared, it is unknown if they proceeded in a knowing manner or were so intimidated they exercised the 'out' of no resonse.

The is hard-ball real estate. Nothing you have shared even hints at any shade of impropriety, Your eager use of 'illegal and unethical' suggests you have other motives invested in this story.

Finally, what role are you playing in this? Are you the buyer/seller/concerned community resident or just don't like the listing agent?
1 vote
Judi Monday,…, Agent, Green Valley, AZ
Mon Apr 30, 2012
Unethical, really? An agent is legally required to present all offers to the Seller...while you may not like the tactics that were employed, the agent did nothing wrong.
0 votes
Maureen Fran…, Agent, Birmingham, MI
Mon Apr 30, 2012
A Realtor has to provide all offers to his or her client. Not sure what you think was unethical.
0 votes
Jerry Cibuls…, Agent, Southold, NY
Sat Mar 17, 2012
Some times the timeline is moving quickly for a variety of reasons. As long as the seller advised the listing agent to provide the 3 hour timeline then it is fine. The buyer seems to have had the option to respond.
0 votes
Tean Wong, Agent, Boston, MA
Sat Mar 17, 2012
Hard to tell. If you have a strong evidence, then you should pursuit the case with your local board. Otherwise, I think you might waste a lot of your time. This kind of this is hard to proof, and the best person to complain is the seller. As long as the decision was made by the seller, no one can say anything. But trust me, agent who practice business this way, won't be in business too long. 90% of transaction has another agent involve.
0 votes
Joe Bertera, Agent, Plymouth, MI
Sat Mar 17, 2012
It does happen unfortunately and is hard to prove. If you have some proof I would call the state and see what you can do about filing a grievence.
0 votes
Carmen Brode…, Agent, Scottsdale, AZ
Sat Mar 17, 2012
You should contact your State's department of real estate.
0 votes
Eric Michael, Agent, Northville, MI
Sat Mar 17, 2012
Curiousinfh, shoot me an email if you want, with more details. I'll try to look into it more if I can.

Eric Michael

EricMichael@Remerica.com
734-564-1519
0 votes
Marie Souza…, Agent, Centerville, MA
Sat Mar 17, 2012
You can put whatever time limit you want on a counter offer.

In order to give you real advice here, we need more details.

Are you another buyer who missed out on the proeprty?
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Sat Mar 17, 2012
There's a lot of information that is missing. It may very well have been unethical but if so the ethics violation is primarily between the listing agent and their seller. Honestly no one should allow an agent to work both sides of a single transaction. When a listing agent is taking the listing they tell the Seller, "I have a fiduciary responsibility to you. I will get you the best possible terms, price and will always be looking out for your best interests." When they take on a buyer, they tell them the same thing. When their buyer wants to buy one of their listings they should remove themselves from the transaction as they have gained inside information about both sides. It would be appropriate to have the firm assing one agent who knows nothing about the other side to each Buyer and Seller to avoid any possibility of a conflict of interest, however rarely is this done and most gents would rather cut off their own hands then consider doing this, though how they can honestly look each of the clients in the eye and tell them their honoring their commitment to do what was best for each is beyond comprehension. However it's perfectly legal and unfortunately standard operating procedure.

Based solely on what you've written I doubt there was anything illegal about what transpired. Unethical and questionable, probably, but if the Seller and Buyer were willing to permit one agent to handle both sides, that's up to them and there's nothing you can do about it.

Sorry you experienced this and hope you go out and find yourself another condo you want soon.
0 votes
Derek Bauer, Agent, South Lyon, MI
Sat Mar 17, 2012
Without knowing the details, it is very hard to say. There is a difference between illegal ... unethical ... and incompetent. You may be facing one or more with this particular individual, but your information is very vague. We as licensed agents in Michigan, by law, must present all offers, unless the seller has demanded that they not. For instance, a seller can instruct an agent not to present any offers after one has been accepted. Rare, but it is possible. That may or may not be the case here...
0 votes
Roland Vinya…, Agent, Sprakers, NY
Sat Mar 17, 2012
Not enough information to give an answer. My guess would be"no" to both questions, but if I knew more I might say differently.
0 votes
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