Sellers agent appears to be working for buyer

[tacimus]

What is the name of your state? TX
We are selling a house. Our agent seems to be sabotaging our listing to get a lower price for the buyer.This buyer is a builder who buys and sells land and houses with our realtor.The agent stated in MLS that house was in floodplain when the whole city is in floodplain but we are not in a flood zone(no mandatory flood insurance required).Now no other agents are showing the house and I feel our ability to get the most we can has been jeopardized.What recourse do we have ?????

 

[lcannister]

When discussing this with your agent what did he or she say?

Sabotage? How? Have you talked to the Agency Broker/Manager about your concerns?

How long on the markets, are the prices in your area depessed right now, are you trying to get more for the house than current markets will bear? There are many reasons a home will not sell and the main one right now is the consumers who will not realize that at this time in the home market they may never be able t get what they paid for a house much less profits.

 

[tacimus]

How she sabbotaged the listing :
She took the listing with great enthusiasm about 4 weeks ago and called us a few hours later saying she had someone interested in the property. She said he was interested in building on 3 of the 6 lots and renting the house that was on the first 3. (nothing wrong yet). The builder <--- comes back and says that the house is on a flood plain and he will only be interested in the second 3 lots. OK so all is a bit confusing now because we never needed to carry flood insurance there. We then set a price for the 3 lots (40k) and he comes back and says he won't pay more than 30k for them and so we countered 35k and he said no he was interested in another venture. basically bye bye. OK fine so I started research on the floodplain deal and I find out the land IS NOT in a mandatory flood insurance zone. I bought a copy the city FIRM through FEMA. I look at the listing for the MLS and Voila!
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IT READS AS FOLLOWS: HOUSE AND 6 LOTS HOUSE MAY IN MIDDLE OF TWO WORKSHOP NEEDS WORK HAS BATHROOM ON SLAB LOTS GO FROM CREEK TO FENCE PAST WORKSHOP ROOF ON HOUSE ,CARPET AND PAINTED REPLACED FAIRLY RECENTLY three lots including house in 100 year flood plain three lots not in flood can be sold separately.
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Not authorized to sell seperately by us except for the current deal that was being negotiated.

The realtor NEVER verified with the city that the land is or is not in fact in a mandatory flood insurance zone and PUBLICLY posted the builders word that it IS in the MLS as to ward off potential buyers.

She comes back and said he put another offer in for 25k for the 3 lots ... all of a sudden after there are no bites on the house because of that awful MLS description.

COME TO FIND OUT************** He has been doing business with them buying land, building and selling his houses through THEIR AGENCY. What do you make of this?

 

[LindaP777]

Tell her exactly what you want said about your house & property in the MLS. If she refuses, go over her head to her broker. She works for you. If she refuses, ask to cancel the listing.

 

[tacimus]

I have told her that the listing is NOT accurate and it appears that she does not want to sell the house. I also told her that NOBODY in their right mind would even want to come see the house reading the mess she wrote. I wrote a description myself and she did use it partially. The fact is that it is that it is NOT in a flood zone but the builder found out that it is in the plans to be rezoned around the creek NEXT YEAR and she feels that the future city plans that MAY occur NEXT year need to be disclosed in the description of the public MLS. I feel that taking the builders word for it that it is a flood zone now and listing that in the public viewed description has damaged the possibility of selling the house even though she changed it today EVERY local realtor has already seen it. What recourse do we have if we feel she did not act in our best intrest here. I do have plans to list in the disclosure form that there are plans to rezone around the creek in one year But not in the description so people say ... I would rather have that double wide trailer than an adorable house in a flood zone! Just so you guys know ... It has NEVER had high waters or threaat to eveer flood.

 

[tacimus]

OK after speaking to her boss ... the name sake of the company .... about her SABBOTAGE, she finally returned my previous calls and I swear sugar was dripping from her lips as she spoke to me so sweet. She said she still feels it needs to be disclosed in the private agent notes of the MLS BUT she offered me an out on the listing with them. My big question is .... Is there a waiting period before I can hire another agent and since she offered the out am I obligated to adhere to the waiting period.... OR can I have her sign waiving the waiting period on the cancellation so I can get another agent ASAP?

 

[lcannister]

If she cancels her listing contract then all provisions are cancelled as well meaning you can hire a new agent anytime after that is properly executed. Make sure you read any paperwork carefully.

There is nothing wrong with an agency working with developers and builders and investors. You are in command of any offer presented to you and you may say NO when ever you do not want to accept an offer just as the potential buyer has every right to offer you a dollar for your property. That is what prudent buyers do based on things they learn such as this rezoning issue.

Concerning that rezoning issue does this statement

But not in the description so people say ... I would rather have that double wide trailer than an adorable house in a flood zone

mean that the rezoning WILL put the property into a flood zone area after the rezoning?

Any fool knowing a creek, river, ocean, lake et al is near a property should be aware that it could be a flooding issue when considering that property for purchase.

Get out of the contract with someone you no longer trust and find another agency but know they all work with all kinds of purchasers which is WELL within their rights.

 

[tacimus]

Yes NEXT YEAR when the new surveys are sent from the city the FEMA FIRMS will change for the whole city actually. FIRM (Flood insurance rate map) change MAY include part of the lot the house is sitting on but we won't know that until they find the BFE (base flood elevation). All cities that have rivers and creeks are starting to participate in Flood Hazzard Mapping Program with FEMA so they are eligible for disaster relief and the National Flood Insurance Rate Program. The city will get bennies with full participation. So in a nut shell they won't even know how far the easement from the creek will go until they survey the elevation NEXT YEAR. But it is in the plans for sure to comply with FEMA. Now that the agent knows this she feel obligated to put it in the MLS not JUST the disclosure form. Some of the other listings are gonna be affected also but I don't see her puttting it in theirs! I CHECKED!

I am all for an investor buying the property even if she represents him as long as I get a satisfactory price but she has broke my trust and totally sabbotaged it so we would feel obligated to drop the price over what may happen next year!

 

[Some Random Guy]

Just remember that an early end to the contract does not cancel it completely.

Look for a clause in there where prospective seller that was referred to the property by the old realtor, or shown the property by the old realtor who ends up buying the property within X months will cause the full commission to be paid to the old realtor.

Just keep that in mind. If the investor comes back with a better offer and you take it, you will owe a commission to the old realtor.

 

[lcannister]

she has broke my trust

Then take the offer of release and get on with selling the property with another agency. IF you plan on revealing this info in a disclosure statement are you sure that you will not face the same problems when another buyer comes along and voile that shows up on the disclosure?

 

[tacimus]

IF you plan on revealing this info in a disclosure statement are you sure that you will not face the same problems when another buyer comes along and voile that shows up on the disclosure?

A friend of mine is a realtor in another state and said to put it in the disclosure forms that you found out the city is rezoning all the creek and river areas in the city next year so it doesn't come back to bite you when they rezone if it changes on that property. It certainly does not need to be in the MLS. She said they can actually come back and sue for not disclosing that info. Just because they are rezoning does not mean the lot for the house will change. I was oppossed to even saying the city is rezoning NEXT year but since we are knowledgable about the plans we have to disclose is what I was told. Whatcha think?

 

[lcannister]

Frankly I do not think it matters if it is in the listing or in disclosure I as a buyer would have my Atty researching the issue before I went ahead with the purchase. However, I am never tempted by properties near any kind of water/potential water sources.

Your friend is right it COULD come back to bite you though at this moment in time you have no idea what changes will or will not be made.

Curious, is the zoning issue one reason you are trying to sell right now?

 

[tacimus]

Curious, is the zoning issue one reason you are trying to sell right now?

OH no!! Absolutly not! The reason is definately a new thread issue LOL.

My hubby had renters in there before we got married and my Silly @$$ hubby has NO business sense. They were supposed to do repairs and held back rent to do it and they NEVER got done. I told him he needs to shape up or ship them out and lets sell to recoup the LOSS ... either that or sue them for the $$ The property is a few hours away and to far to keep up with renters.

As a matter of fact I am on his user name ... I should have logged in mine to post the follow ups... he posted the OP here.

 

[HomeGuru]

OH no!! Absolutly not! The reason is definately a new thread issue LOL.

My hubby had renters in there before we got married and my Silly @$$ hubby has NO business sense. They were supposed to do repairs and held back rent to do it and they NEVER got done. I told him he needs to shape up or ship them out and lets sell to recoup the LOSS ... either that or sue them for the $$ The property is a few hours away and to far to keep up with renters.

As a matter of fact I am on his user name ... I should have logged in mine to post the follow ups... he posted the OP here.

**A: stop the confusion and post only using your own user name.

 

[tacimus]

**A: stop the confusion and post only using your own user name.

No confusion.... My hubby and I sit side by side at our computers .... we are one entity.