Expert: Dick Dennis - 12/9/2008

Question
QUESTION: My daughter contacted an agent about possibly selling her home, She specifically told him she was only interested in the value of her home at this time so she could figure out what price homes she could look at. She had an appointment with a mortgage co. later that week and needed a ball park figure. The agent was also a friend of the family. She also told him she had  someone who may be interested in her home and wanted the name excluded on the agreement to list when it got to that point.Needless to say, the agent left with a signed agreement,put a sign out front . She has been looking with him for a new home and fully intends on using him for that purchase. I have now found out, the agent did not exclude her friend on the agreement but simply charged her 5% instead of 6%. Her friend has signed an agreement of sale. I am furious as I feel this agent took advantage of my daughter knowing full well, her friend should have indeed been excluded. He did nothing to bring the buyer in. Any thoughts?

ANSWER: That agent is not very ethical, that's for sure. However, now you know why it is so important to READ EVERYTHING in any document you sign. EVERYTHING. Do not ever be rushed into signing anything. If you're a slow reader, tell the agent to go take a walk and return in 15 or 20 minutes. If this matter was to go to court, the judge would ask your daughter two questions: "Did you sign this listing agreement?" And, "Did you read the agreement before you signed it?" From the answers to those two questions I am sure you know what the judge's decision would be.

But that doesn't stop you at this point from going to the agent's office manager and lay the complaint on the table. The manager would bring that agent into the office to address the complaint. If the agent denies your daughter's complaint and the manager can not do anything about it, then your next appointment would be with that judge.

On the other hand, your daughter can remind that agent that with this kind of treatment she no longer wishes to continue looking for homes with him/her. The agent will then realize what this business survives on, and that is "trust." Friend of the family? I seriously doubt it. I wish you well.

Dick Dennis
dixiedee13@aol.com

---------- FOLLOW-UP ----------

QUESTION: Your response was greatly appriciated. I forwarded on to my daughter. I must also tell you,I did in fact speak with the agent, he now tells me although he did not mention her friend as an exclusion on the listing agreement, he verbally told her, usually an exclusion is good for two weeks, however, he gave her 30 days, ( she signed the agreement of sale, slightly past 30 days). I was understanding an exclusion was an exclusion.

Answer
No, Deb, that agent was trying to cover up his incompentence. He knows very well -- and you should know, too -- that if if isn't in writing, it WAS NEVER SAID. In otherwords, if it is not part of the listing agreement, there is nothing in this world that would stop him from forcing your daughter to pay a commission to him. An exclusion is good for whatever amount of time is actually written on the listing agreement. Not two weeks, two months or two years or two lifetimes. It's what is written on the listing agreement.

I wouldn't trust that agent for as far as I can throw him. Family friend or not. Have a great holiday.

Dick Dennis