I've written about Fiduciary responsibility many times. I always let this responsibility take precedence. I can without a doubt see the nuance involved with the responsibility and those that do not uphold it's level of accountability.
I recently took on a land purchase with clients and we've been trying to get it done. The other side of the transaction has been amiable until this last week.
While my client still battles the bank and their requirements, we have been trying to help the seller stay in the deal. I have to say that while I can see the seller's point of view on closing this transaction....have you tried to close a land transaction lately....next to impossible.
Well, we have managed to get it done and the seller says "no way"!. We offer up our deposit "earnest money" and the seller say "no way".
My clients have made many arrangements for the land and a business transaction/business. They have much to loose.
Since the listing agent says that they won't go further and we have already suggested making the "earnest available" what is there left but for me to offer some commission in addition to the "ernest money deposit" . I offered $500 to help the seller move forward.
Now given, I pressured the Listing Agent with whether he was respresenting his seller's best interest and I also sent him an email version of post that I wrote providing a perspective on "how hard it is to close anything in this market"! I guess we can say he did not appreciate it.!
It is obvious in his response which I have to say is amazing. The listing agent came back with an Addenum releasing the ernest money deposit and instead of my offer of $500 from my commission ( which most agents wont' let you do) he wrote the addendum with $1000 coming from my commission.
Say what....this agent is being vindictive and mean. He know we won't make much money on this deal. We are doing it for our clients. It's a slam and a mean one! I'll have to investigate whether my board thinks it is unethical. I checked with my manager this am....who has 18 years experience on the ethics committee.....his advice was close it and take him to the board for unethical behavior based on article 1 and others.
I don't know that I will proceed to do this. Bad business is bad business and better left behind. I choose to focus on more positive results in this world. But you can count on one thing....this man won't be on my "good list" and he will not be a person that I tell others to do business with. Libel...no way.....truth is always absolute and solid! Rather than making a friend in this market.....we have a business result that is less than genuine! I won't hesitate to share....it is the truth, after all!
I am Jeanean Gendron, your Redding and Shasta County Real Estate Specialist. You can reach me at 530 276-7417. I answer my phone.
This is rather a sobering post. It seems that I have been writing a number of sobering posts and re-blogging same.
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