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Agent frustration

expresswrittenconsent
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This is probably a stupid question but what happens if OP does file a complaint or sue? Is there a chance the agent/agency would be inclined to settle? Or is it just like suing someone in small claims court where you can win a judgement but will never collect a dime?
SteveBott
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AG
There should be an O&E policy at play as well as one or two Liability policies but not sure they can accessed in this situation. This could be determined to be fraud. But attorneys are resource to find out. They will find the money if it's there.
Diggity
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Yeah, you would sue the broker as well, who presumably has e&o.

I would imagine you could file a DTPA claim against them if you can prove they purposely withheld the higher offer.

Quote:

This exemption does not apply to:

(1) an express misrepresentation of a material fact that cannot be characterized as advice, judgment, or opinion;
(2) a failure to disclose information in violation of Section 17.46(b)(24); or
(3) an unconscionable action or course of action that cannot be characterized as advice, judgment, or opinion.


The attorneys can chime in

IrishTxAggie
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Nothing to offer, but I'm intrigued. Hope you sue and get some damages on this. Sounds pretty damn shady of your realtor to me.
Adam Ag 98
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We had a couple look at our home 2 weeks ago before it went on the market. Their realtor asked if we'd forgo putting it on the market if the offered at or above our asking price.

Their desire to have us not not put it on the market is because of what happened with their previous offer 2 doors down. They offered, didn't hear back and upped it 10k two days later. The sellers realtor finally responded and said he was out of town for 2 days, he'd get back soon. He kept stringing them on for another week with no response to their offer. He finally told them they'd accepted another offer and it was under contract. No notification they were in a multi-offer situation.

We're waiting to see, but expect at closing he'll represent the buyer as well. Their realtor told our realtor if that is the case she plans to file an ethics complaint.

I don't know the owners 2 doors down, but others in my. Neighborhood do. It'll be fun to discuss it after the sell is complete.
Diggity
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Pretty much that exact scenario happened to me and my clients.

******* is at my office too so I get to see him every day.
jakeaggie84
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where do yall live and what is her name??? Don't want other people to risk hiring her!
IrishTxAggie
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So, a week later. Where are we at?
WorkerBee
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Got attorney involved and her broker was notified. He now wants to "settle" this. They are meeting Tuesday to hash it out. Attorney says we should get the difference back based on the conversation.
IrishTxAggie
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Bob_Ag
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If they agree to settle, that's great. If not, and you pursue legal action, that is what the Texas Real Estate Recovery Fund is for. You would have to win in court and present the judgment to TREC which then reimburses up to $50K I believe. It is specifically for violations like this where licensees or brokers violate their fiduciary duties or some other type of fraudulent/misrepresentation issue.

Link to TREC, Recovery fund info

DallasAggie0
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Get your money and then of course have your attorney file a complaint with TREC. People like this shouldn't be allowed to represent anyone else.
htxag09
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Texker said:

I hope she gets what she deserves but you have to accept some responsibility for this fiasco. I would have blown her up when she pulled that FB judgemental crap.

Based on your description the warning signs were there.

Do your homework.
Question everything.
Verify.
Re-verify if necessary.
Repeat throughout the process.

This is even more important in a strong economy where people start to get lazy and think they are better than they are. Prosperity is an effective camouflage of mediocrity.
I probably would've started seeing red flags when she said to list $50,000 under value. Pretty easy to get in the ballpark of comps these days.
Adam Ag 98
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A couple of weeks ago we had someone look at our home. We checked them out on the ring doorbell - overweight sloppily dressed woman. Stayed in the home w/her realtor less than 10 minutes, didn't take a printout, etc.

Serious judgment going on in our home. We said "she looks kind of trashy, probably can't afford it".

2 days later we had an offer. We saw the pre-approval letter, did some googling, and learned her husband can buy and sell us. He works for a publicly traded company and is a sr exec w/comp info publicly available. he makes annually more than twice our list price. He's being transferred and they wanted our home to live in while they wait for shangri la to be built.

We sold to a different buyer, but the point made several times in this thread still stands. Don't judge a book by its cover.
JMac03
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I'm going to guess as part of the settlement you have to sign a non-disclosure, but damn I am one nosey person.
IrishTxAggie
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JMac03 said:

I'm going to guess as part of the settlement you have to sign a non-disclosure, but damn I am one nosey person.
Can't wait for the Tuesday update!
Adam Ag 98
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I've re-read this post from top to bottom. This crap infuriates me. My realtor is fantastic and honest as the day is long.

The realtor from the OP should never be allowed to work in real estate again. I have zero tolerance for dishonest people and wish everything short of physical harm to them.

This person needs full on public humiliation.

JMac03
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cjsag94
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It's frustrating that people regulated by states (insurance agents and real estate agents) aren't subjected to public reporting such as FINRA Broker check. The fact that a broker can offer to just "settle this" with no public record is very problematic. Unless OP goes to MLS site at rates the agent something other than 5 stars (not sure if can be done anonymously), then this will all go away.

Even then, what happens if she just registers under a new broker? I realize a formal complaint filed and confirmed may be recorded somewhere, but I've never found a place you can easily review credentials, experience, disciplinary history, etc. of these people online.. I'm guessing you have to inquire with the state organization that heard the complaints?
BTD
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Just blast her name on here... and hold on tight!
IrishTxAggie
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DallasAggie0
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He may be under an NDA?
cjo03
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DallasAggie0 said:

He may be under an NDA?


Good point.. so don't share the agents name.



....just post pictures of your new house. Preferably one showing the address...
cjsag94
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I hope he got much more than just what he lost if he also had strings attached like an NDA. This should not be able to be swept under the rug.
WorkerBee
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Sorry for the delay but have been living up to my username.
Yes there is a NDA so no more info will be forthcoming.
Thanks for all the advice, TexAgs is the best.
Ag2Max
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WB.....can you at least tell us where in Texas this took place?
Shooter McGavin
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WorkerBee said:

Sorry for the delay but have been living up to my username.
Yes there is a NDA so no more info will be forthcoming.
Thanks for all the advice, TexAgs is the best.



Ah, this blows.

Boo this man!
cjsag94
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I'd be curious if the agent faced any punitive action beyond just a financial judgement.
AggiePlaya
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WorkerBee said:

Sorry for the delay but have been living up to my username.
Yes there is a NDA so no more info will be forthcoming.
Thanks for all the advice, TexAgs is the best.

Blink once if you are happy with the settlement, blink twice if you are not
Adam Ag 98
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Any new applicants in the job market?
91AggieLawyer
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When I dabbled in real estate in college, I had a hard time wrapping my head around the whole agent representation thing. Now that I've practice law for 20+ years, I'm completely horrified that any hint of this thing still goes on. It would have been bad enough had she been totally up front with you about which offer she wanted you to accept and why (still a conflict but a reported one) but doing all that in the dark is a complete breach of a fiduciary duty if there ever was one -- assuming things happened as the OP suggests.

I don't handle litigation matters anymore and if I did, it would likely be representing the real estate company against this sort of thing, but this type of case would be one I would take in a heartbeat provided I had no conflicts.
No Pressure
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Was the agent at least hot? OP seems like a guy who falls for discounted AV equipment in some Costco parking lot truck.
aggiepaintrain
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can I have 6% of the settlement ?
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