Profile picture for johnsrhon

I sold a home and my agent is now selling for my buyers for double the amount.

I told my agent I had a buyer and two days later she brought me one a little higher. Made me get a new water heater and buy a home warranty to sell it. Now I noticed the other Realtor I also paid commission to,  is now selling the house for double the amount I sold it for. This took place in Arizona. Is this legal?
  • June 05 2013 - Bullhead City
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Answers (8)

Your posting is confusing. Your initial question states that 'your agent' is now selling the home for double. But in the body of the question it appears that the buyers agent now has the home listed for double what the buyer paid.

Which is correct? Is it your agent or the buyers agent that has the home listed for sale. And do they have it sold or do they have it listed for double the sale price. That is two different issues.
  • June 05 2013
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Buyer can turn around and sell a house anytime for more money. That in itself would not be illegal. It is done all the time. Referred to as fix and flip if done in a short time. If there was no "fix" or improvements, the buyer may have difficulty selling for more money in a short time.

Weather the agent(s) and/or buyer did anything unethical or illegal is another matter. Not enough information in your question. This will probably be a question for an attorney if you feel you are a victim in this transaction.
  • June 06 2013
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Profile picture for johnsrhon
My real estate agent is the listing agent for the buyer that bought my home. So is it legal to sell a house for me and then sell the same house for the buyers, which would now become the new sellers and the same agent.
  • June 06 2013
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A broker can work for many parties over the years.  Maybe they liked your agent when they bought your home.  Repeat business is a key component to the real estate business. So yes, the agent can work with the buyers of your home as current sellers.

  • June 06 2013
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You are seeking legal advice for your particular situation. Only an attorney can provide legal advice.
  • June 06 2013
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Profile picture for SoCal Engr
You are saying that...

a)  You engaged a REA to list/sell your house.
b)  The REA brought you a buyer, who offered a bit more than a potential buyer you had already found.
c)  You ended up selling to the buyer brought to you by the REA.
d)  The house is now relisted at a higher price than you sold for.

There are many missing pieces of information...

1)  What condition was the house in when you sold it?
2)  Is the house in the same condition, or has it been improved?
3)  How much time has lapsed between when you sold and when it was re-listed?
4)  How was your list/sale price determined? Did the REA provide a CMA, or did you already determine the price (seeing as how you already had a potential buyer)?

At first blush, my understanding is...
-  There is nothing illegal about the REA representing both you and the new sellers. From your description of events, it may even be that the REA represented both sides in your sale. Did the REA disclose a dual-agency situation, or was there another REA involved to represent the buyers?
-  If you had already decided on a price, and the REA did nothing to inform you of their opinion of the current market value (i.e., that you might be able to list/sell for a higher price), that could be "un-ethical", but don't know that it would rise to the level of "illegal".

None of this is "legal advice", but there are gaps in your narrative.
  • June 06 2013
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Profile picture for wetdawgs
Were you happy with the sale when you sold it?    It is now their house and they can do whatever they want, and use any agent they want to sell it.
  • June 06 2013
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Legality is a matter of law and varies from state to state.

When I see something like that around here it is "legal"  but it then becomes a matter of Is it ethical?

If you sold the house for Fair Market Value then there should be no problem for your listing agent.  Fair is Fair.

If the new listing agent puts it on the market for twice what the buyer paid it is probably an advertising scheme for the agent to find more buyers by having people call the number on the sign.  Is it ethical?  I don't know.  I do know I wouldn't do it.

J.D."Dan" Weisenburger,GRI
Broker-Assoiciate
Realtor®
[Contact information removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
  • June 06 2013
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