Breach of duties real estate agent

Florida

I put my house for sale through a real estate agent I personnaly know and trusted. I agree to pay 6% fees if a buyer was found through another agent, 5% if found by my agent and 4% if found by myself.

My house was listed for $179k. Less than 6 days after being listed, my agent contacted me saying he had a buyer coming from another agent (more fees for me to pay), buyer offer was $160k.

I made a counter offer for $177k, buyer made another offer for $165k, i didn't make another offer. As my house was on the market for such a short period of time I didnt feel I should sell for so much less than the price asked to the first buyer, I wanted to wait for more offers.

I really felt pressured by my agent who kept repeating over and over it was a very serious offer made by serious buyers, that my house might not even appraise for $165k and that he listed it $179k expecting to get $165k!

The day after I had cancelled the first (and only) negociation I was contacted by another agent who works with my agent in the same company, same desk, sharing the same computer and I was told that she had buyers she was working with for a while, they visited my house and were willing to pay $177k without going through counter offers.

I accepted this offer, then first buyer came back offering $500 more than $177 and became very upset when he learned I had already signed up with the second buyer.

All the above in less than 10 days after my house was listed for sale.

Closing should happen soon but my problem is with MY real estate agent. I feel that he never represented my interest as it was his duties. As In his office they had the second buyer in their files for a while, he knew there was a buyer willing to pay the price asked, I don't understand why he didn't start with this offer instead of another which was 19k less, coming from another agent which would cost me more fees, then I don't understand why he insisted for me to sell. Knowing my house was on the market for such a short period of time, i expected him to suggest to wait a little bit before jumping on this low offer.

At least I didn't expect him to pressure me in any kind. I feel there must be a reason for the second buyer to came back with an offer way higher than before and be very upset because he missed the sale. If he didn't have enough money to afford my house, he had no reason to be upset.

I wonder if he was suggested that I will sell at his price for personal and familial reason disclosed by my agent who knows me.

The agent is supposed to represent my interest and not disclose anything about my personal situation. I really feel betrayed by mine.

I'd like to know what I should and can do, of course I feel horrible having lost total trust in this agent I thought was a friend, because I am in a sad family situation and he knows all about, I feel he was trying to take advantage of my situation.

Thanks

[Souix]

Originally posted by alizee22
Florida

I put my house for sale through a real estate agent I personnaly know and trusted. I agree to pay 6% fees if a buyer was found through another agent, 5% if found by my agent and 4% if found by myself.

My house was listed for $179k. Less than 6 days after being listed, my agent contacted me saying he had a buyer coming from another agent (more fees for me to pay), buyer offer was $160k.

I made a counter offer for $177k, buyer made another offer for $165k, i didn't make another offer. As my house was on the market for such a short period of time I didnt feel I should sell for so much less than the price asked to the first buyer, I wanted to wait for more offers.

I really felt pressured by my agent who kept repeating over and over it was a very serious offer made by serious buyers, that my house might not even appraise for $165k and that he listed it $179k expecting to get $165k!

The day after I had cancelled the first (and only) negociation I was contacted by another agent who works with my agent in the same company, same desk, sharing the same computer and I was told that she had buyers she was working with for a while, they visited my house and were willing to pay $177k without going through counter offers.

I accepted this offer, then first buyer came back offering $500 more than $177 and became very upset when he learned I had already signed up with the second buyer.

All the above in less than 10 days after my house was listed for sale.

Closing should happen soon but my problem is with MY real estate agent. I feel that he never represented my interest as it was his duties. As In his office they had the second buyer in their files for a while, he knew there was a buyer willing to pay the price asked, I don't understand why he didn't start with this offer instead of another which was 19k less, coming from another agent which would cost me more fees, then I don't understand why he insisted for me to sell. Knowing my house was on the market for such a short period of time, i expected him to suggest to wait a little bit before jumping on this low offer.

At least I didn't expect him to pressure me in any kind. I feel there must be a reason for the second buyer to came back with an offer way higher than before and be very upset because he missed the sale. If he didn't have enough money to afford my house, he had no reason to be upset.

I wonder if he was suggested that I will sell at his price for personal and familial reason disclosed by my agent who knows me.

The agent is supposed to represent my interest and not disclose anything about my personal situation. I really feel betrayed by mine.

I'd like to know what I should and can do, of course I feel horrible having lost total trust in this agent I thought was a friend, because I am in a sad family situation and he knows all about, I feel he was trying to take advantage of my situation.

Thanks

1. Your agent has no control over other agents and when their buyers decide to write an offer and when they don't, what they decide to write the offer for and what their terms are.

2. If your agent is related to you in any way, it must be disclosed in writing to the other parties.

You have a valid and mutually accepted offer from the 2nd offer of the 2nd party. Move on to closing. It does not sound like your agent has done any thing wrong.

[JETX]

In reading your post, it sounds like you have no options on this matter. Simply pay the commissions that you agreed to pay.... and move on with your life.

Thanks for your answers.


What you are telling me is that my agent really served my best interest by finding a buyer with an offer $20k less than the price asked and through another agent which would cost me more fees while his assistant seated next desk has a buyer matching my offer in his file for a while.

He did nothing wrong by insisting for me to sell way less than asked knowing my house was on the market for less than 1 week and that this was the first offer and I assume he had no clue his assistant had listings...??

I guess at one point he communicated with his assistant so he contacted me but my agent never even mention as an option that he could find another buyer.


I guess communication is easier between cities than over a desk.

Are you both real estate agents?

Thanks

[Souix]

Originally posted by alizee22
Thanks for your answers.


What you are telling me is that my agent really served my best interest by finding a buyer with an offer $20k less than the price asked and through another agent which would cost me more fees while his assistant seated next desk has a buyer matching my offer in his file for a while.


**The offer brought to you for $20K less was from another agent correct? Your agent has no control over what other agents write in their offers. How do you know the offer your agent's assistant had was sitting in a file drawer? And even if this was your agent's offer, isn't the fee less if your agent has the buyer? Isn't it 5%? Also, is his assistant a licensed agent or clerical staff?



He did nothing wrong by insisting for me to sell way less than asked knowing my house was on the market for less than 1 week and that this was the first offer and I assume he had no clue his assistant had listings...??


**How is $177,000 way less that $179,000. Am I missing something? I thought you rejected the one for $165,000.



I guess at one point he communicated with his assistant so he contacted me but my agent never even mention as an option that he could find another buyer.


**Don't understand this sentence.


I guess communication is easier between cities than over a desk.

Are you both real estate agents?



**If you don't like the answers you get here, go to your agent's principal broker and discuss it with him/her. Your initial post is very very long and something is missing. I don't see a problem. You will find out who we are and what our qualifications are when you click on"profile". Good Luck!

By the way, I am a realtor and I can say with certainty that any home that sells within the first 30 days of being on the market is priced extremely well. I only wish they all were. Your agent has a duty to serve you and protect you, we cannot make up your mind for you, only advise you of the consequences.***
Thanks

I am not criticizing the low offer, anyone is free to offer less than asked, what I say is that it was the only and first offer, coming from another agent which mean fees were 6% instead of 5% while there was another offer sitting next desk and I learned about this one only after I rejected the first offer.

If i had agreed to sell for $19k less to the first buyer i was losing money on my house and on fees. Period. I don't describe this as serving the best of my interest.

I know the other agent working with mine in the same office had
the buyer higher offer in his files because he told me so. He knew exactly how much this buyer was willing to pay, what kind of house he was looking for etc. The buyer visited my house and requested a contract right away without discussing the price.

I have hard time thinking MY agent was not aware of this buyer.

When I say my agent insisted for me to sell I am referring to $165k.

What I mean exactly is that MY agent listed my house for sale and I have hard time thinking he said nothing to the other agent sitted next desk and communicated only with agents from other offices/cities.

What make sense to me is that IF my agent was serving my interest, he'd ask the agent next desk BEFORE any agent from the outside or at least, at the same time, to get all offers that could match the best price for my house.

Also as I believe it works both way. When the other agent next desk received a request from his buyer looking for a house similar to mine, he communicated the offer to MY agent. At this time my house was not for sale but I believe MY agent knew about this potential buyer.

As you say, the house was priced right , reason why it was sold in less than 1 week, so made sense not to jump on a first offer especially when it's so much lower than the price asked. Isn't it something the agent is not aware of? A house well priced should sell fast and for the price asked, not for $19 or $14k less?

Why would an agent insist on selling for way less?

Look to me that part of the agent duties is to help me get the most, not the less.

Am I wrong?

[HomeGuru]

I agree with the contributors. Sell and move on. And go have a meeting with the principal broker and file your complaints about your agent with the broker.
You did not have to accept an offer lower than the list price.

[Souix]

Originally posted by alizee22
I am not criticizing the low offer, anyone is free to offer less than asked, what I say is that it was the only and first offer, coming from another agent which mean fees were 6% instead of 5% while there was another offer sitting next desk and I learned about this one only after I rejected the first offer.

If i had agreed to sell for $19k less to the first buyer i was losing money on my house and on fees. Period. I don't describe this as serving the best of my interest.

I know the other agent working with mine in the same office had
the buyer higher offer in his files because he told me so. He knew exactly how much this buyer was willing to pay, what kind of house he was looking for etc. The buyer visited my house and requested a contract right away without discussing the price.

I have hard time thinking MY agent was not aware of this buyer.

When I say my agent insisted for me to sell I am referring to $165k.

What I mean exactly is that MY agent listed my house for sale and I have hard time thinking he said nothing to the other agent sitted next desk and communicated only with agents from other offices/cities.

What make sense to me is that IF my agent was serving my interest, he'd ask the agent next desk BEFORE any agent from the outside or at least, at the same time, to get all offers that could match the best price for my house.

Also as I believe it works both way. When the other agent next desk received a request from his buyer looking for a house similar to mine, he communicated the offer to MY agent. At this time my house was not for sale but I believe MY agent knew about this potential buyer.

As you say, the house was priced right , reason why it was sold in less than 1 week, so made sense not to jump on a first offer especially when it's so much lower than the price asked. Isn't it something the agent is not aware of? A house well priced should sell fast and for the price asked, not for $19 or $14k less?

Why would an agent insist on selling for way less?

Look to me that part of the agent duties is to help me get the most, not the less.

Am I wrong?

***So what? Yes the agent's duties are to get you the highest and best offer and you accepted an offer for $177,000. Call the principal broker if you are unhappy with that.

[JETX]

Alizee:
If I follow your situation correctly,
1) You were selling your property and asking $179k.
2) You sold it for $177k.

You are apparently upset because the offer came from a second agent (with the same broker) and have to pay 6% commission instead of 5%.

You are assuming that your agent (the 5% one) should have known that the other agent might have a buyer 'on the string' when you have no proof of that. And absent any proof, you are stuck with paying the 1%.

Quit being a cheapskate and be glad you sold your property.

Oh, and by the way, NO I am not a realtor or agent.

You didn't understand correctly.

I am not upset because i might pay 5 or 6%, I agreed to pay fees, this is not a surprise.

What upset me is that my agent came to me with only one offer which was 19k less than the price asked while he had knowledge of the other offer matching my price.

The other agent works with MY agent for the same broker and HE WROTE me he had this buyer number 2 in his file for a while, not only he works for the same broker but he uses my agent's computer and share the same email. So they work pretty close to each other.

As MY agent found a buyer through another agent not working for the same broker, it's hard to believe he didn't know about the offer matching my price which was in the file of the agent working with him. I can't believe my agent would start looking for a buyer without asking anything to the agent sharing his own computer !

I am upset because he insisted for me to sell at lower price, he never even suggested that other buyers will show up and my house was on the market for less than 1 week.

The first buyer is very upset because he didn't get the house. Knowing he didn't offer more than 165k I guess the reason for him to be that upset is that he was told I would sell for $165k which would explain why my agent pressured me to sell.


In other words, there a duties an agent is supposed to provide, duty number one is to represent the seller, do the best to sell at price asked. Not the opposite.

This is why I am upset, why I feel betrayed by someone I know and trusted.

If I had agreed to the first offer at $165k I would have never heard anything about the second offer.

Don't you think it was my agent's duties to let me know about the offer matching my price? His duties not to pressure me to sell for $165k while knowing I could get $177 k?

If he was aware the first buyer could afford to pay $177 instead of $165k I would have made another counter offer BUT he wrote me that it was unlikely this buyer will go any higher than $165k.

So now, this first buyer is very upset.

Is an agent supposed to do that? Who can trust an agent acting this way?

Short version:

I put my house to sell $179k. 5 days later MY agent come with a buyer provided by an outsider agent offering $160k. I make a counter offer for $177k, buyer offfers $165k.

My agent pressure me to sell for $165, I refuse.

Next day the agent working with mine wrote me he has a buyer in his file willing to buy the house $177k.

I sell.

First buyer ($165k) comes back very upset because I sold the house and offers above $177k.

1) My agent knew about the offer $177k.
2) My agent pressured me to sell for $165k.
3) I believe MY agent disclosed personal informations which lead the first buyer to believe I would sell for $165k


Am I wrong to be upset with MY agent? Do they all work this way?

[Souix]

Originally posted by alizee22
You didn't understand correctly.

I am not upset because i might pay 5 or 6%, I agreed to pay fees, this is not a surprise.

What upset me is that my agent came to me with only one offer which was 19k less than the price asked while he had knowledge of the other offer matching my price.


***All offers that are written need to be presented, no matter if they are $1 or $1,000,000

The other agent works with MY agent for the same broker and HE WROTE me he had this buyer number 2 in his file for a while, not only he works for the same broker but he uses my agent's computer and share the same email. So they work pretty close to each other.


***Your beef should be with the agent that works with your agent. Offers that are written must be presented to the seller as soon as possible.***



As MY agent found a buyer through another agent not working for the same broker, it's hard to believe he didn't know about the offer matching my price which was in the file of the agent working with him. I can't believe my agent would start looking for a buyer without asking anything to the agent sharing his own computer !


***Your agent did not find the other buyer. The agent that worked for another company had a buyer. Your agent does not find those agents, those agents find your property on MLS...your agent doesn't have anything to do with that. When your agent took the listing he had an agreement with you in writing to find a buyer, ready willing and able to purchase your property. He was doing his job. Additionally, your agent cannot ethically know anything about anyone elses offer, whether it is in office or not, until it is presented to you as the seller.



I am upset because he insisted for me to sell at lower price, he never even suggested that other buyers will show up and my house was on the market for less than 1 week.


***But you didn't so what is the point of going on and on about this?



The first buyer is very upset because he didn't get the house. Knowing he didn't offer more than 165k I guess the reason for him to be that upset is that he was told I would sell for $165k which would explain why my agent pressured me to sell.


***You are doing alot of guessing without facts. A seller's agent would be breaching his fiduciary duty to the seller by telling other agents that the seller would take less than the list price. Can you prove this was done?




In other words, there a duties an agent is supposed to provide, duty number one is to represent the seller, do the best to sell at price asked. Not the opposite.

This is why I am upset, why I feel betrayed by someone I know and trusted.

If I had agreed to the first offer at $165k I would have never heard anything about the second offer.

Don't you think it was my agent's duties to let me know about the offer matching my price? His duties not to pressure me to sell for $165k while knowing I could get $177 k?


**As stated above. The agent that had the buyer matching your price should have presented that offer to you immediately, not held it in a file drawer. Your beef is with that agent not your agent.



If he was aware the first buyer could afford to pay $177 instead of $165k I would have made another counter offer BUT he wrote me that it was unlikely this buyer will go any higher than $165k.


***Lots of "ifs" and "guesses" here. Normally, your agent would not know what the other agent's client could afford or not afford. The buyer's agent needs to keep that information private. If the buyer's agent told you his client could not go over $165,000 then that client probably informed him of this and gave him permission to disclose this to you.


So now, this first buyer is very upset.


**So what? Maybe he'll agree to go in backup position. If he wanted the house, he should have made a better offer.




Is an agent supposed to do that? Who can trust an agent acting this way?

***I still don't see where anything was done improperly.

[JETX]

"What upset me is that my agent came to me with only one offer which was 19k less than the price asked while he had knowledge of the other offer matching my price."
*** How do you KNOW that your agent "had knowledge of the other offer"???
Your claim simply isn't supported by anything in your post.

[HomeGuru]

Writer, read the National Association of Realtors standards of Practice and Code of Ethics. Cite sections that you feel your agent was in violation of and give the broker your letter with the cites.

[msincognito]

long-term lurker, first-time poster....If I'm reading this correctly then I think I know what alizee22 is trying to say...

She thinks her original agent (who is a friend, but evidently not a very good one) DID know about the higher offer. The "evidence" is that her agent (Agent A) and the agent who relayed the higher offer (Agent B) share a desk, a computer and an email address. I don't know that Agent B had any obligation, but Agent A did if he knew about the higher offer.

It seems to me this confusion can be cleared up by asking Agent B flat-out "Did you tell Agent A about this offer and if so, when?"

If I'm understanding her correctly, it seems she suspects Agent A was somehow in cahoots with the first, lowballing buyer. I would be suspicious too, for the following reasons:

1) The first buyer was upset they didn't get a chance to counter the $177K offer. If they wanted the house so badly, why was their first offer so low?
2) It sounds as if Agent A was really pouring on the pressure to accept the $165K offer. Why is that, when the house was just on the market and demonstrably worth more? They should have a pretty good idea of what a particular house will sell for.

There is an innocent explanation for what happened: Agent A REALLY didn't know about the second offer, and REALLY didn't believe the house would sell for that much. But you'll never find out the truth if you don't ask a few questions, and the suggestion to go to the agency's broker seems to me to be a good one.

It seems to me that you'd be just as happy to learn that your friend didn't do you dirty. Good luck!