Q: We are interested in a foreclosed home. When we first called the name on the outside of the house it was the broker so I assume she is also the Realtor. She would never call us back she seemed very uninterested in selling this house even went as far to tell us that the house had a busted pipe and had black mold all inside. After a week of waiting on this lady to show us the house because something didn?t feel right so I called Realtor we have used before well she showed us the house and we fell in love with it. There was no broken pipe. There used to be black mold that was cleaned up. We still want the house so we put a bid on the house under a construction loan for extra money to fix any problems we do know there was another contract on the house and the broker emailed by Realtor asking if we want to back out. Our Realtor told her no and saved the email why is this Realtor/broker doing this. Why would she ask that question? I find it to be very weird.
?Anonymous, Gulfport, MS
A: It is a possibility that the listing agent had also secured a buyer and thus would be potentially earning BOTH commissions. This may be a reason why they would want to discourage any other possible better offers from competing with the one they have in place. Yes, it is unethical if this were the case.
As far as REO agents not calling back, it seems that this is the norm among agents represent banks in the sale of bank-owned properties. Some refuse to communicate via any voice media and correspond only by email. It is a sad state of affairs.
Adam Aguilar is a Realtor? with Reliantra in West Toluca Lake, CA.
A: I think you are confusing broker and rRaltor. A broker is someone with a license from the state that allows them to have agents under their supervision. A REALTOR (r) is an agent or broker who belongs to the National Association of Realtors and abides by their code of ethics. If you called the number on the sign you called the agent who listed the house for the seller. She also may have a buyer (she would represent both sides in that deal) who has put in an offer and she does not want your offer to compete with hers. Or the seller may have told her not at accept any other offers. The first reason would be against the ethics code. The second reason would not. Your agent should determine what is going on and take stps to correct any unethical behavior by speaking to the broker in charge of that office or by taking disciplinary action if warranted. I am an exclusive buyer?s agent and I often run into these questions with my buyers. It is not easy to get to the bottom of things like this but it can be done. Don?t give up hope yet!
Linda Walters is a Realtor? with Sage Realty LLC in Wayne, PA.
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