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  1. #1

    Default Conflict of Interest by a Real Estate Agent

    My question involves real estate located in the State of: California
    (First post ever.. of any kind. Thanks for your time and patience)
    Jan. 30, we found a property we wished to bid on, a California short sale listed 128,250.(on the market 40 days 1 offer)
    We contacted our agent via our client portal and asked her to write an offer at asking price.

    Jan. 31, we asked the agent again to write an offer at list; still nothing. Mind you the situation is already beginning to feel peculiar because she was always very prompt in writing and submitting our offers.

    Feb. 1, We are at the property and she informs us that another client of hers offered 100,000 January 2, that they were investors and that 2010 California laws frown on investors buying short sales. So we instruct her to write the offer at list..AGAIN.

    Feb. 3, I receive a telephone call from our agent, I confirm our offer and its' stipulations( curious as to why she hadn't submitted our offer yet).
    Within the hour my wife receives an email stating her other client intended to alter their loan to FHA and up their offer. Still our offer was never written.
    I confronted her and told her to submit our offer. She had to have informed the other client of our intent to offer yet postponed actually writing it.

    Feb. 4, She submits our offer after a rather heated conversation.

    Feb. 5, A contingency appears on the property(it sold to her other client). It appears she postponed our offer to allow the other client to alter their loan and enter bidding with us. Is this unethical or standard practice in real estate? I don't intend to sound uneducated in the matter but frankly, I am. Thanks in advance.


    p.s. She also informed me that if this house sold at asking price the buyer would have equity in the home.

  2. #2
    Join Date
    Mar 2009
    Posts
    327

    Default Re: Misrepresentation? Please Help. Thanks in advance

    IMO, I would file an ethics complaint with the real Estate Commission or you can get a lawyer and file an injunction to stop the sale etc, but that will cost big $$

  3. #3

    Default Re: Misrepresentation? Please Help. Thanks in advance

    @mudpie..Thanks that was the first reply to my first post ever.

    @forum..Im still open to opinion from all willing. Thanks

  4. #4

    Default Re: Misrepresentation?

    I suppose if those are my options I may let it ride. I don't wish to bring anyone harm nor do I want to make a bitter experience out of our first home purchase.

  5. #5
    Join Date
    Apr 2010
    Posts
    1

    Default Re: Conflict of Interest by a Real Estate Agent

    This just happened to us. There were no offers and this short sale according to the bank is going to reo foreclosure on the 13th of may however, we contacted the owner.....and he is already moved out of the house and said he would sign. the realestate agent got pissed that we contacted the owner and now the owner leaves us a message that the bank refused our offer. how in the world can a bank refuse the offer if the owner never signed the bid and why does the agent care. My take on the real estate market is that agents play gods and have conseiderable egos...such that if you take matters into your own hands like we did and contact the owner...they get bunces in their bloomers. The mistake here is I just recieved an email from my agent saying that the owner refused to sign. Now what the F? Did the bank refuse the offer as the owner said....or did the owner refuse the offer as the agent said. Doesn't matter, I will wait for it to go to reo and they can go to hell.

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