Yet another confirmation - if you are working with Buyers - ALWAYS - get a Buyer Broker Agreement.
So, this is a post where I get to vent and warn others. I always thought that if I built good rapport with my potential buyer clients that they would be loyal to me. Wrong. I use to make EVERYONE sign a buyer agency agreement before viewing homes. I strayed from my rule a bit with some new clients. She works for a reputable Christian organization in town and he is in the same line of work as my husband- Great Rapport going on here!
They were an adorable, sweet young couple, looking to buy their first home. I met them at one of our listings. I asked the question if they were working with an agent. The answer was NO. She explained how they were pre-approved with a lender who is a family friend in a town that is 150 miles away.
After our intial meeting, we set up a time to spend the lunch hour looking at homes, then after work doing the same. We saw several homes and they found one they liked. We had a second showing on the home and although they liked it, they thought they should wait. A couple of weeks later, the favorite home had a nice price reduction. I got a call from the clients to see the home one last time with a family member before writing an offer.
Tonight at 9:00 p.m. I get a call on my cell. I think she was going to leave a message, but I picked it up. She proceeded to explain to me how the "Family Friend" who is doing the loan told her that she is also an agent and needs to write the offer so she can give her back her commission. What? She told me she felt terrible for my time wasted and how I took great care of her finding her a home. I proceeded to tell her that I thought her "friend" was a little unethical.
So, if you are reading this and you are a potential buyer client of mine, Please forgive me when I demand a buyer agency agreement before showing homes. I will go back to my initial way of doing things. I learned a valuable lesson today that I use to know before I let my ever so trusting guard down. Shame on me.
THE LENDER CALLED ME AND I FOUND OUT THAT SHE IS THE STEPMOM! SO THIS IS A PARENT/CHILD RELATIONSHIP AND SHE WAS DOING ALL SHE COULD TO HELP THIS YOUNG COUPLE GET INTO A HOME. SHE WAS GIVING THE LOAN TO SOMEONE ELSE IN THE OFFICE, THEN AS A RELATIVE SHE WAS GOING TO GIFT THE COMMISSION FOR DOWNPAYMENT TO THEM. SHE WILL MAKE ZERO ON THE DEAL. SHE SAID SHE EXPLAINED TO HER STEPSON HOW THIS NEEDED TO WORK AND NOT TO GET ANOTHER AGENT INVOLVED. THE SON NEVER TOLD THE WIFE AND DIDN'T REALLY LISTEN TO STEPMOM (TYPICAL KID, HUH?) I DEVELOPED THE RELATIONSHIP WITH THE WIFE (EVEN THOUGH SON CAME TO SHOWINGS AS WELL)
BOTTOM LINE IS THAT THEY CAN'T GET THE HOUSE WITHOUT HELP OF STEPMOM. THEY ARE YOUNG AND GREEN AND NAIVE AND LENDER IS NOT THE BIG BAD EVIL PERSON I THOUGHT.
IF I WERE A MEAN PERSON I COULD STICK TO MY GUNS ON THIS AND DEMAND COMISSION. IN THAT CASE THEY PROBABLY COULDN'T GET THE HOME ANYWAY. THEY REALLY ARE A NICE COUPLE BUT IGNORANT TO THE CONSEQUENCES. I TRY TO THINK OF MY OWN SON AND HOW HE DOESN'T LISTEN TO ME MOST OF THE TIME. SO, BOTTOM LINE IS I AM STEPPING ASIDE. SHE DID SAY THAT MAYBE THE COUPLE WOULD SEND ME REFERRALS TO MAKE UP FOR MY TROUBLE. THAT WOULD BE NICE, BUT I AM NOT HOLDING MY BREATH HERE. I DO BELIEVE IN TAKING THE HIGH ROAD. THANKS FOR ALL OF THE SUPPORT AND ADVICE. ACTIVE RAIN IS SUCH A GREAT RESOURCE!
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!
Tony Marriott - Chief Executive Officer - Haven Express @ Keller Williams Arizona Realty
Suzanne Marriott - Chief Learning Officer - Haven Express @ Keller Williams Arizona Realty