Got circ*mvented, but still got paid $1000 on this deal
Hello DG Family,
A small deal was completed this past week. It, as all deals I am involved with, had some things happen. I am partnering with someone in San Diego, and he thought he could trust his agent, so while out of town, he called his agent on a lead a birddog gave him to put it under contract.
Instead of putting it under contract, the agent took advantage of the situation and listed the property and told the sellers their home only needed $20K of work. I came in with my buyer and the repair estimate came in at $45K. Because the agent had gone behind my partner and taken the listing and told them this info, they didn't believe the amount of work, and so the price wasn't too good, but my buyer bought it anyhow. There was really any room for a fee for us, but the agent got the commission. This is the kicker.
He took the commission and pd $2500 to the bird dog (who we had already talked to and said that she would get less on this one because of the situation and agreed to), and $1347.27 to my partner and said I didn't need to be paid because my role was insignificant. So, this guy who was only supposed to assist my partner
1. Took it upon himself to take the FSBO seller and represent them and take a listing.
2. Told them false information about the repairs needed.
3. Was the only one that got paid though his commission. (although in the end did end up sharing it so at least the bird dog and my partner got paid)
4. Did NOT represent my partner at all in the transaction. (in the process of reporting him to the DRE)
5. Said my role bringing in the buyer was not important and told my partner I don't need to be paid.
6. Tried to buy off our birddog by paying her more and cutting me out.
7. Pd a small fee to the guy who trusted him to just get the contract for him while he was out of town because he felt somewhat guilty.
The gall of some people. The kicker? If the agent hadn't been involved, we could have easily gotten the contract for $25K less. My partner learned a really valuable lesson about circumvention and trust. But he got his first deal. And, luckily my buyer has integrity and paid me $1000 and has blackballed this agent Chris Sanders. Not a great payout, but at least its something.
Hello DG Family,
A small deal was completed this past week. It, as all deals I am involved with, had some things happen. I am partnering with someone in San Diego, and he thought he could trust his agent, so while out of town, he called his agent on a lead a birddog gave him to put it under contract.
Instead of putting it under contract, the agent took advantage of the situation and listed the property and told the sellers their home only needed $20K of work. I came in with my buyer and the repair estimate came in at $45K. Because the agent had gone behind my partner and taken the listing and told them this info, they didn't believe the amount of work, and so the price wasn't too good, but my buyer bought it anyhow. There was really any room for a fee for us, but the agent got the commission. This is the kicker.
He took the commission and pd $2500 to the bird dog (who we had already talked to and said that she would get less on this one because of the situation and agreed to), and $1347.27 to my partner and said I didn't need to be paid because my role was insignificant. So, this guy who was only supposed to assist my partner
1. Took it upon himself to take the FSBO seller and represent them and take a listing.
2. Told them false information about the repairs needed.
3. Was the only one that got paid though his commission. (although in the end did end up sharing it so at least the bird dog and my partner got paid)
4. Did NOT represent my partner at all in the transaction. (in the process of reporting him to the DRE)
5. Said my role bringing in the buyer was not important and told my partner I don't need to be paid.
6. Tried to buy off our birddog by paying her more and cutting me out.
7. Pd a small fee to the guy who trusted him to just get the contract for him while he was out of town because he felt somewhat guilty.
The gall of some people. The kicker? If the agent hadn't been involved, we could have easily gotten the contract for $25K less. My partner learned a really valuable lesson about circumvention and trust. But he got his first deal. And, luckily my buyer has integrity and paid me $1000 and has blackballed this agent Chris Sanders. Not a great payout, but at least its something.