Profile picture for LeannSmith8

Should I report listing agent as unethical?

So the story starts out as normal, see a house fall in love and ask about financing (yes we now know we should have got preapproved) was given a phone number by the standoffish listing agent. After a few pieces of information was told nope cant help...foward to almost a week later and was advised by another person to try a differnet financier this one took all information in copies and got us approved! Contacted listing agent on Fri when was preapproved and asked to put in a offer, was told we couldnt until emailed proof of it, thats fine totally understand, but was also told well "Ive been working on another for almost a month". So the next morning (this is a Sat) emailed her the form at 11:45, tried to call and even facebook messaged. Appro 4 hrs later after no reply decided to get buyer agent to do bid for me. Time was set for 10 on Sun. I did one more message on her personal realty page (which shows read at 6:20) and my relator called her at 6:30 and there was no bids on the house. We walked away from bidding happy thinking we may have to wraggle price but we was good. Well 2hrs later we get the dreaded call that she had put it under contract at 6:45 the night before. This seems blatently unethical as a sellers agent since she knew we where bidding and on top of it she told my agent that they where not preapproved for financing! (Note:view where we was not allowed to bid without proof). We where not allowed to put in a backup offer and she has been very hard to get hold of by my relator. We loved this home and feel totally jilted by what she has done. Am i correct for wanting to file charges aginst her?
 PS- Also when locating it online it is showing updated in several areas-even her own page and still has a MS listing number but is missing off most. I dont understand? Isnt is suppose to go to Sold on MS page?
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March 23 - Atlanta
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Profile picture for sunnyview
You may suspect that the listing agent is not doing the best job for their client, but without proof it might be hard to press a successful complaint. If you feel strongly about it, you can contact the local licensing agency in your state or talk to a local agent board to see if they offer a complaint process.
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March 24
Discuss with the Agents Broker the situation.  If an agent needs more training the Broker can assign that broker to more training, asap. Also, the Broker needs to know.  
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March 24
Profile picture for LeannSmith8
Lol Im sorry I put charged. Yeah I would never go that far I'm not sue happy like a lot. But I do want her held accountable we feel totally blocked and left out because she had a "chosen" buyer. And their offer was contigent on getting financing. So basically when we went thru getting prefinanced and we and our relator let her know that we was bidding she had otherbuyers put in offer without financing. Not even letting seller know there was another bid. Or accept a backup offer.
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March 24

Don't bother...

You would have to have solid evidence, and even if you did, your complaint goes to a panel (months later)  that probably has some agents just like her on it....the kind that do that also and see nothing wrong with it.

Eve


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March 24
"And that it was put under contract by a party that had no financial backing (she disclosed this to our relator when he called to place our bid)."

This statement above is 100% worthless to a court, a board and anyone else. its not factual and its backed by zero evidence (get it out of your head because its only upsetting you). its heresay. You do not really know and certainly have no evidence to support it, so it would be unfair for you to use that statement in any way, shape or form against the listing agent.

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March 24
Profile picture for LeannSmith8
Yes definitely now know about prequalification but why I believed was unethical was because when we was she wouldn't allow us to put a bid in and with the timeframe note that we contacted and also our buyer relator contacted her before it was put under contract. And that it was put under contract by a party that had no financial backing (she disclosed this to our relator when he called to place our bid). I would totally understand if we had just missed the house but it feels like we where blocked from it. And now thr house is under contract for 30 days while they get their financing together.
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March 24
Sorry to hear you lost one (its never a good feeling). Ive read everything your saying here and it does not sound like you have much ground to stand on. The listing may very well have refused to take an offer from you, the seller may have given specific instruction to the list agent, (this does not mean the list agent refused to "present" an offer to the seller), the seller could certainly argue about the list agent somehow not representing them properly by not taking the offer from you but the fact is the seller has the house under agreement (possibly with the better buyer, better terms, better price as compared to your offer)... in which case, the seller was represented well.

It is complete hearsay to assume everything your buyer agent says about the list agent to be factual (the buyer who put the house under agreement may not have a pre approval... maybe they have cash, maybe they have 50% down payment, maybe they have wealthy family who signed as secondary buyers in the event they cannot obtain a mortgage, maybe they put up a $20k non - refundable deposit in the event they fail to obtain a mortgage... these are only a few of the possibilities that would completely make it "understandable" (I know that does not make you feel any better however).

Filing "charges" sounds like something criminal (I don't think thats even possible here),   your options are to file a "complaint" if you wish with the licensing board in your state (they may or may not chose to inquire to the broker for specifics on the chain of events depending on the evidence you hand them). You will likely never know what transpired in the end.

You could file a civil suet against the broker (the agent in all likely hood is shielded by the broker), but you would need a lot more than hearsay and you better make sure your the "better" buyer in price, terms, ability to pay or you might be paying for court coasts and the defense attorney as well as your own attorney is you loose.

as others have said... this is a lesson well learned and I think the best approach is to get better at what your trying to achieve. You will now be more "ready", more "prepared", more "knowledgeable" to deal with listing agents (HINT: honey attracts things better than vinegar and any good buyer agent will tell you to treat the listing agent as an extension of the seller himself because THAT is EXACTLY what he/she is!)

One thing to brighten the day is this word of advise I truly believe in...  no matter how beautiful and perfect a property may indeed be that you see while your shopping, rest assured in time there will always be something better around the corner! This will hold true even after you successfully buy something! so try not to get to discouraged... your on the right track!

Best Wishes Always!
         
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March 24
Leann, I see it all the time.  You're teaching others that read this post to ALWAYS have a prequal letter first. Listing agents, remember, work primarily for the seller.  They have a fiduciary responsibility to ensure any buyer CAN get the proposed financing prior to taking the property off of the market. 

That doesn't help you at this point. But you are now primed to find a better property since you now have a lender's letter ---- that's worth a lot more than most agents will let you know.

I don't know if it's unethical what that listing agent did or not.  It seems to me she could have at least called your agent (presuming she knew you were working with one), and let him know another offer was about to be presented. This is a situation that could have raised the offers to their sellers---- something that listing agents try to ensure.  I have a hunch this particular agent just wasn't that efficient, however. But I'm not sure it was unethical--- just inefficient.

Things change in a moment--- there is never a safe period when you're protected before other offers come in.  If anything, next time your agent should present your lender's prequal letter WITH your offer at the same time--- and hopefully quickly as soon as the next one comes up.

By the way, don't be discouraged. I promise, as much as you liked that one a better one is right around the corner. The one that is meant to be.  Be happy. You'll see it's going to work best for you coming up.

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March 23
Sure, report her. If you still want the house, chances are the sale is subject to contingencies, so you still have some hope. I think your agent should submit your offer (there is no such thing as "not allowed.") to the listing broker along with a request that the seller acknowledge receipt of it within 24 hours, and if you don't receive that receipt, your or your agent should be meeting with the office's designated broker about having your offer presented to the seller.

All the best,
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March 23
 
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