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  1. #1

    Default Owner Brings in New Real Estate Team when We Did Nothing Wrong

    Hello,
    I'm associated with a Real Estate team in GA. Our team was working with a developer of a new subdivision from day 1 (5 years ago). We all worked directly with the owner that was building the subdivisions.
    After the housing market tanked, we advised the builder to lower the prices of the units to bring in buyers, And the owner would not budge a bit. He simply refused to lower any unit, even when we had offers, the owner wouldn't consider anything $10,000 lower of asking price.....AT ALL!!!

    As of a few months ago, the owner asked our team to leave his subdivisions (just out of the blue), Saying that we were stopping his units from being sold! After much fuss, our team withdrew.
    But the real twist is, the owner brought in a new real estate team, and lowered all of his unit prices by huge amounts...one of his largest units sold this week.
    When we were there trying to lower this unit....the owner would not let us list it for less then $390,000....this SAME unit just sold for $280,000............a difference of over $100,000 ....This IS CRAZY!

    I have Proof of all the pricings he demanded, all the negotiations that were denied, and all the emails of our team advising him to list at a competitive price.

    Is there anything I can do??? I feel like our team is going crazy, we spent 5 years there!

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
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    98,846

    Default Re: Owner Brings in New Real Estate Team when We Did Nothing Wrong

    So your contract was up and he hired a different company to take over? Sorry to say, that's life in the business world.

    The house next door to mine was on the market for over a year. The real estate agent who was trying to sell the house kept insisting to the owner that the house needed to be steeply discounted to sell in the current market. They kept the price much higher than the real estate agent suggested. Finally they were convinced to accept an offer, about $50K below their reduced asking price. The buyer unfortunately got cold feet and backed out of the sale. This occurred shortly before the seller's contract with the real estate agent expired. Rather than renewing their contract with the real estate agent who had almost sold the house, the owner signed with a new agent, listed the house at $10K above the offer from the buyer who backed out, and it sold within weeks for the amount the prior buyer had offered. Because that was the price the market would bear. But none of that got the original real estate agent a commission.

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