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Realtor passed away

3,799 Views | 9 Replies | Last: 4 yr ago by HomeFinderCody
Garrelli 5000
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9:45p, 6/25/19
AG
My wife and I received a sad phone call today from the wife of our realtor. He passed away unexpectedly (we didn't ask how).

We've known him for 14 years, purchased 2 homes with him, sold two others - most recently less than two weeks ago - and have referred him to many friends. He was a very sweet and intelligent man, winding down into retirement and only working when his long-time customers or their families reached out to him.

We're building a home that will be finished in 3 months that was our third home to purchase with him. We told his wife that we'll do whatever is needed to help her receive his commission on the build. She said she's contacting ?TREC? to see what happens next. He was an independent broker.

Can anyone tell me what the next steps will be to ensure that his wife receives his commission once our home closes? I'm sure this is not uncommon, but I want to make sure that I know what could be expected from me to help make this as easy for her as possible.




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diablo loco
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10:11p, 6/25/19
pay his commission on the closing statement. escrow will wire to his estate. done.
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gvine07
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12:45p, 6/26/19
AG
I'm sorry for your loss

It should not be an issue, just talk to the title company. The check will likely be made out to "the estate of...." and the executor of his estate, likely his wife, can deposit it (she may have to open up an account first).
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Bitter Old Man
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11:02a, 7/9/19
AG
I dont think its legal for a non-licensed person (widow) to receive a real estate commission. The title company may refuse to pay it. There isn't a lot you can do to affect it either way because the commission is being paid by the seller and its an agreement between the seller and the agent(s).

She might have to find another broker who can take the commission and pay it to her as a gift.
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agsalaska
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In reply to Bitter Old Man • 11:31p, 7/10/19
AG
Bitter Old Man said:
I dont think its legal for a non-licensed person (widow) to receive a real estate commission. The title company may refuse to pay it. There isn't a lot you can do to affect it either way because the commission is being paid by the seller and its an agreement between the seller and the agent(s).

She might have to find another broker who can take the commission and pay it to her as a gift.
Pretty sure this is the answer. It will be up entirely to the selling broker. And my guess is the selling broker will do the right thing.
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
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HomeFinderCody
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In reply to Garrelli 5000 • 8:42a, 7/11/19
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Adam Ag 98 said:
My wife and I received a sad phone call today from the wife of our realtor. He passed away unexpectedly (we didn't ask how).

We've known him for 14 years, purchased 2 homes with him, sold two others - most recently less than two weeks ago - and have referred him to many friends. He was a very sweet and intelligent man, winding down into retirement and only working when his long-time customers or their families reached out to him.

We're building a home that will be finished in 3 months that was our third home to purchase with him. We told his wife that we'll do whatever is needed to help her receive his commission on the build. She said she's contacting ?TREC? to see what happens next. He was an independent broker.

Can anyone tell me what the next steps will be to ensure that his wife receives his commission once our home closes? I'm sure this is not uncommon, but I want to make sure that I know what could be expected from me to help make this as easy for her as possible.




If you are in Texas and still need a solution, reach out to me and I'll be glad to help ensure she gets the $$$.

Cody@MyRobinsonTeam.com

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Garrelli 5000
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In reply to HomeFinderCody • 4:13p, 7/11/19
AG
Thank you all for your counsel.

Cody - I'll shoot you an email.

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Garrelli 5000
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9:48a, 8/4/19
AG
To close this out...

I spoke to Cody and he graciously offered to assist with our close and ensuring that our previous realtor's wife received the commission her husband would have otherwise collected.

Cody is as stand-up as everyone who has worked with him has previously stated. Great Ag and I'd strongly recommend him based on this brief interaction.

Having said that, our realtor had unofficially designated another realtor as his back-fill, the person he'd begin sending his repeat customers to once he'd decided to fully retire. Our realtor's wife asked if we would mind working with this gentlemen to complete the transaction and we agreed to do so. We thought this would be the safest bet should anything go wrong w/her transfer of commission funds. If anything were to happen preventing her receiving the commission, it wouldn't be because we didn't use the person she was familiar with.

The new realtor spoke to the owners of our home builder who assured him that they'll work with him to make sure she receives the full commission. The new realtor agreed to represent us through the final closing.

Thanks again to Cody for offering his assistance as well as the advice of others on this thread.

Adam
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12:54p, 8/4/19
bco2003
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In reply to Garrelli 5000 • 4:13a, 8/5/19
AG
Glad it worked out. Thanks for circling back on here.
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HomeFinderCody
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In reply to Garrelli 5000 • 8:15a, 8/5/19
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Adam Ag 98 said:
To close this out...

I spoke to Cody and he graciously offered to assist with our close and ensuring that our previous realtor's wife received the commission her husband would have otherwise collected.

Cody is as stand-up as everyone who has worked with him has previously stated. Great Ag and I'd strongly recommend him based on this brief interaction.

Having said that, our realtor had unofficially designated another realtor as his back-fill, the person he'd begin sending his repeat customers to once he'd decided to fully retire. Our realtor's wife asked if we would mind working with this gentlemen to complete the transaction and we agreed to do so. We thought this would be the safest bet should anything go wrong w/her transfer of commission funds. If anything were to happen preventing her receiving the commission, it wouldn't be because we didn't use the person she was familiar with.

The new realtor spoke to the owners of our home builder who assured him that they'll work with him to make sure she receives the full commission. The new realtor agreed to represent us through the final closing.

Thanks again to Cody for offering his assistance as well as the advice of others on this thread.

Adam

You are very welcome. I'm glad it worked out, which is the only thing that mattered. Gig'em!
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