Posted by Max-Va on September 16, 2006 at 22:03:28:
I would bet if something goes very wrong, a good attorney could involve you and your broker in a huge lawsuit. Don’t bet the farm on being in the clear.
By the way find another broker to work for you are finished there or would be If I owned the place.
Agent Coerced by Broker - Posted by T
Posted by T on September 13, 2006 at 16:50:11:
I’m a real estate agent (not a broker) in California. Recently I listed my own home with an agent outside of the office where I hang my license. Today I was given an ultimatum by the broker in my office where I do hang my license. The ultimatum is that if I don’t list my home with the office in which I hang my license, I will no longer be able to hang my license with them. Can they do this? I’ve checked the Department of Real Estate codes & can’t find anything relative to this situation. Is this not coercion? blackmail? extortion? What are my options? Please advise.
Thank you,
T.
Re: Agent Coerced by Broker - Posted by dutch
Posted by dutch on September 17, 2006 at 09:11:05:
why would you list with another broker? you don’t like the one you are with? You obviously don’t have a clue about how this business or even life works.
I would kick your but* out too.
Dutch
okhomesavers
Re: Agent Coerced by Broker - Posted by BTI
Posted by BTI on September 14, 2006 at 23:28:27:
T
If you check your contract you will normally see that the broker only needs to give you notice.
I would have had your license delivered to your house along with the suggestion you join your listing agents office. At the very least you should have talked to your broker before this not to bright move.
BTI
Re: Agent Coerced by Broker - Posted by Bill H
Posted by Bill H on September 14, 2006 at 10:36:22:
Whether your are making money in the business or not the broker has overhead attributed to your occupancy of his office. Like the other posters say your license is with him and he is culpable for your actions in ANY real estate transaction.
Is this not coercion?..NO blackmail?..NO, extortion? NO…Just good common sense and good business practice.
If you worked for me when I was a broker and this came up I would have handed your your license and told you “Do not let the door hit you in the A$$ when you LEAVE!”
What are my options? Leave or get thrown out.
Good Luck,
Bill H
You understand “Loyalty”? - Posted by blucat
Posted by blucat on September 14, 2006 at 08:56:48:
If any agent of mine did that, he would be handed his RE license and told to hit the street.
My office, my brokerage, my rules.
Re: Agent Coerced by Broker - Posted by Frank Chin
Posted by Frank Chin on September 14, 2006 at 08:06:33:
Mr. T:
Can’t tell your about California law, but my understanding of the Broker-agent relationship here is the broker is responsible for what you do in the buying and selling of homes, and that could even include the one you live in.
Here is NYC, the RE agent identifies himself as such on the P&S contracts, and if something goes wrong, his broker can be sued.
But then again, if you work in a auto repair shop, you bring your work to the guy up the street, or you work at a restaurant, you go out to eat at the one up the street, the boss gets annoyed too.
Unless the office you work thru only sell 100K homes, and you live in a $1,000,000 home, and buyers would not normally come here to look for such a home. If that’s the case, you should work the particulars out with your boss.
Frank Chin
Re: Agent Coerced by Broker - Posted by seldon
Posted by seldon on September 14, 2006 at 05:12:34:
WHY would you do this in the first place.you should list your own home to save yourself money and make your broker a buck.I would be angry too if you did this in my brokerage.
Re: Agent Coerced by Broker - Posted by T.
Posted by T. on September 14, 2006 at 11:29:33:
Actually, I pay $2000.00 a year in office fees, AND I pay for my own phone, among other various overhead costs, including E.&O.'s
Re: Agent Coerced by Broker - Posted by T.
Posted by T. on September 14, 2006 at 13:03:06:
Thanks,
I chose not to list my home myself due to liability potential. I tried to list it w/ my office, but ran into too many roadblocks, & isues. So I went outside w/ a broker who initially helped me buy the home. Therefore, the liability is on him & his E&O’s.