Posted by RobertM on November 06, 2000 at 19:26:24:
I would do more than confront him with the fact that he did not present the proper disclosure forms. The penalties (in my state) for not presenting agency disclosure forms are HUGE. And the circumstances you describe are pathetic. Anyone wanting a commission should be WORKING for it- and perhaps even obeying the law!
Not sure if I have a licensed Realtor! - Posted by Mark-NC
Posted by Mark-NC on November 02, 2000 at 11:40:51:
OK, heres the deal. I had this house up for sale, I put on my flyer’s and advertising no realtors please.
So I am working at the house and this guy comes up and says I know of a guy that will buy this home can I show it to him.
I said sure If he buys it I will give you a referal fee. So I figure, OK, I will throw this guy some money if he produces a real buyer.
So The buyer comes over, he is a strong buyer and after checking him out I qoute him a good price.
The buyer accepted my price then the guy that refers the buyer say’s he has his brokers license but hasen’t been activley doing anything for a few years. When I was originally talking to the guy I am thinking I would throw him a $500 bone if the deal closes.
Then he says to me, I would like to include my broker fee in the deal. I told him if he wanted a fee I would have to raise the price of the home to cover it. He said no the buyer is already set on that price we shouldn’t do that. ( The sales price was $56,000)
Then I said, ok what are you looking to get out of this. He said he would like a full 6% commision. Well after I stopped laughing I said, you got to be kidding, I would tear up the contract before I paid you 6%. You didn’t do anything to earn that much all you did was send one of your buddies over her that was looking for a house.
Well after talking back and forth I decide to go 3% and that was only becasue the buyer was strong and the deal was ready to go. Other wise I would tell him in “Jim Pipers word’s” to pound salt.
So here we go, we are filling out the papers in absence of the buyer. He brought all the right paperwork but was very unfamiliar on how to fill it out. He said it had been 4 years since he had filled one out. I basically filled them out for him. By now I am starting to get a little suspicious.
Then He says to me. I don’t want my buddy to know that I am making a commission on the deal. Talk about red flags, they were poping up all over. I said, the buyer will know it when it shows up on the HUD statement. Then he kind of had a worried look on his face paused a while and said, I will figure it out.
Well know I am thinking, I have to find out if this guy is for real. So my question is. How do I find out, short of asking to see his license. This is in NC.
Mark
Re: Not sure if I have a licensed Realtor! - Posted by Robert
Posted by Robert on November 06, 2000 at 19:20:57:
One of the main problems with real estate is the ease with which anyone can obtain, and maintain, a license.
Check with your local board of realtors to see if he is a board member. If not, they will be able to direct you to the state authorities, where you can call to see if the guy is licensed.
If he is NOT licensed, the penalties for practicing real estate without a license are STEEP. Just the mere mention of this fact will help you to recover most, if not all, of your lost commission.
Re: Not sure if I have a licensed Realtor! - Posted by Dave T
Posted by Dave T on November 02, 2000 at 18:47:37:
Why did you back down on your offer of a referral fee? Your property was a FSBO and you were not given the opportunity to refuse to work with or through a Realtor.
I have had real estate agents try to get a full commission on my FSBO property. Usually they would claim to have an interested buyer, and would just want a short-term listing agreement. I would tell the agent that the property is FSBO, but that I would pay a 3% co-op fee if their buyer closed on the deal. In this instance, I always knew that I was dealing through a buyer’s agent.
Now you may want to go ahead with the deal anyway, but I wonder what the NC Real Estate Commission will tell you about your obligation to pay a commission under these circumstances.
Re: Not sure if I have a licensed Realtor! - Posted by Nate
Posted by Nate on November 02, 2000 at 16:22:49:
if he didn’t identify himself as a realtor/broker when he initially contacted you, he was being misleading. after the deal closes i might be inclined to report him to the state r.e. commission – they frown on this type of ‘unethical’ behavior!
Re: Not sure if I have a licensed Realtor! - Posted by arya
Posted by arya on November 02, 2000 at 13:29:36:
Mark,
I don,t think , he is in title of any commission, since ,he is on inactive status for over year.
You need ask his Realtor ID card ( They must carry it , always),and take his ID number and call N.C Real Estate
Commission office at (919)875-3700 OR Call Realtor Office at (919) 654-5400. Also you can vsist N.C real Estate Commission WEB site at www.ncrec.state.nc.us
arya
Re: Not sure if I have a licensed Realtor! - Posted by JPiper
Posted by JPiper on November 02, 2000 at 11:52:32:
Call the State Real Estate Commission. They’ll be able to tell you if the guy has a valid license.
By the way, most states (and I would guess this is true in NC) in order to represent another party the licensee would need a written agreement. In other words, if the agent is representing YOU he would need a written listing agreement. If he is representing the the buyer, he would need a written agreement with the buyer, AND would need to provide YOU with an agency disclosure (a document that will disclose WHO he is representing and WHO is paying his commission). In my state the agency disclosure document also sets forth some of the different possibilities of agency. These are all legal requirements set up by your state license law.
If this guy does not have a license, he cannot enforce a commission agreement, even if it’s written.
By the way, it’s “pound sand”, not “pound salt”. You must be confusing me with someone else.
JPiper
Re: Not sure if I have a licensed Realtor! - Posted by Brent_IL
Posted by Brent_IL on November 02, 2000 at 22:40:17:
When I worked for a company that made soup bases and cures for meat it was “pound salt.” Same thought.
Not confused just misquoted. - Posted by Mark-NC
Posted by Mark-NC on November 02, 2000 at 12:53:41:
Jim,
Your right, it was “sand” I will try to be more carefull next time…LOL
Anyway thanks for the info. I called, and strangley enough he is licensed as a broker. I am however going to have to confront him on a couple disclosures that are not included in the paperwork he provided.
Mark