Mislead by Realtor

[seniorjudge]

Q: I could just as easily say the exclusion applies because the broker agreed to it.
A: And you would be wrong.

Q: How much would you offer to settle, as opposed to going to court?
A: This is your own personal decision.

 

[UNCLEBUCK]

Q: I could just as easily say the exclusion applies because the broker agreed to it.
A: And you would be wrong.
Maybe.

Q: How much would you offer to settle, as opposed to going to court?
A: This is your own personal decision.

seniorjudge: I was actually asking much would you offer to settle if you were the Realtor. I understand it's not cut and dry, and that everyone would offer a different amount. For example, if I were a Realtor in that situation? Where I knew I was in the right? I would immediately file a lawsuit to get ALL of my money. Maybe a wise decision, maybe not. But it's what I'd do. Another Realtor may feel he's better off to offer a 'settlement' to his client for whatever reasons. Again, I'm just curious. If you were the Realtor, and KNOW you are in the right, and your client is refusing to pay you 20K, how much would you be willing to accept as payment in full? (and again, if it were me? I wouldn't accept anything other than the 20K. But that's just me.)

 

[seniorjudge]

Q: I could just as easily say the exclusion applies because the broker agreed to it.
A: And you would be wrong.
Maybe.

Q: How much would you offer to settle, as opposed to going to court?
A: This is your own personal decision.

seniorjudge: I was actually asking much would you offer to settle if you were the Realtor. I understand it's not cut and dry, and that everyone would offer a different amount. For example, if I were a Realtor in that situation? Where I knew I was in the right? I would immediately file a lawsuit to get ALL of my money. Maybe a wise decision, maybe not. But it's what I'd do. Another Realtor may feel he's better off to offer a 'settlement' to his client for whatever reasons. Again, I'm just curious. If you were the Realtor, and KNOW you are in the right, and your client is refusing to pay you 20K, how much would you be willing to accept as payment in full? (and again, if it were me? I wouldn't accept anything other than the 20K. But that's just me.)

This question has too many variables to give a sensible answer.

 

[HomeGuru]

This question has too many variables to give a sensible answer.

**A: sensible response.

 

[UNCLEBUCK]

Quote:
**A: sensible response.

Or a cop out.

In any case, all of the previous posts can now be boiled down to this:

A) Owners list property with Realtor.

B) Listing contract is signed by Seller's and Realtor, and includes addendum which names potential Buyer 'B' as an exclusion, where commission will be 3%, as opposed to 6%, if 'B' purchases property, whether 'B' is represented by listing Realtor, or any other Broker or Agent.

C) Listing Realtor contacts Seller's one day after listing contract was signed, asking to meet with them. In meeting he explains that he had made an error in signing contract; that Addendum should not have included 'whether 'B' is represented by listing Realtor or any other Broker or Agent' but instead should read 'unless 'B' is represented by any other Broker or Agent.' He further explains that this type of wording is "never done by any Real Estate Brokerage" and that "It is just impossible to do this" and if they'd like he will void and cancel the Contract, but they will not find any Broker that will do this for them. He further apologizes and explains he was not feeling well when the signed contract.

D) Trusting the Broker, and realizing it would be a waste of time to void the contract, since no other Brokerage will agree to the exclusion anyway, they agree to add another addendum to include the 'unless 'B' is represented by any other Broker or Agent.' Potential Buyer 'B' purchases property. Shortly thereafter, Seller's find that a previous Listing Contract, which was handled and signed by a different family member, and different Realtor, also included a potential Buyer exclusion, and the wording included 'whether 'B' is represented by listing Realtor or any other Broker or Agent'. Upon further research, they find that Broker in essence lied to them.

(Seller's have copy's of ALL documents.)

No Commission money has been paid to Broker at this time.

Thoughts? Comments?