Real estate agent and pricing

[isis297]

What is the name of your state? MD

Can a real estate agent lower the sales price on your home without your written approval?

My mom is selling her house and they signed the papers for one price. Because it had been on the market for 2 months with no offers, the agent talked to her about lowering it to a new price. My mom told her that she was coming to visit me and that she would discuss it with me and my mom would let her know when she got back. Upon returning home, she found out the agent already lowered the price, said she thought my mom gave her a verbal ok, and told my mom that she can't raise it back up because it's already all over the internet - something else I think she isn't being truthful about. I've seen house prices go up and down all the time for the same house plus considering she did it without permission, what she is telling my mom just doesn't make sense to me.

I appreciate your advice.

 

[LindaP777]

Time to talk to the RE agents broker and inform them of RE behavior. Asked to be released from your contract immediately and find a new agent.
Your mom is the client. RE agent acts on the clients wishes. That includes priced increase or drops. Time to get a new RE agent! I would not deal with one so presumptuous!

 

[justalayman]

as a little support (very little), in some areas, a verbal acknowledgement of a price alteration would be acceptable and if the agent sis truly misunderstand the agreement, so be it BUT there is nothing hard about correcting it to your mothers intended price.

Due to the last part, I totally agree with Linda and suggest you dump this guy and get a new one. Very real possibility the broker (if this guy is not the broker) will merely drop this guy as your agent and assign a different one within this brokerage house. It can be tough to actually void the contract given how a brokerage house works but if you want to leave this brokerage house, I would strongly push for the voiding of the contract and go elsewhere. There has been enough improper action already that you could raise enough stink to cause the broker to release you, at least I believe so.

 

[isis297]

Thank you both. My mom said she talked to her supervisor and some real estate board (not sure if she really spoke to who she thinks she did) and said they said the agent can do that if the house isn't moving. I found it odd too.

If I were local I would handle this stuff myself but I'm not.

Thank you again.

 

[justalayman]

unless there is a clause in the contract to allow this, they lied.

It is not uncommon for an agent to suggest or recommend a price reduction if a house is not selling but they have no authority, unless it is written into the contract, to alter the price of the house unilaterally.

you may want to take a look at your moms contract with the brokerage but I think they are full of bull.