Posted by Henry on March 25, 2002 at 24:50:45:
NT: thanks for the response, apology for the tardy response: spent a gorgeous couple of days on the Mendocino Coast. Yes, of course, it’s best to be honest and communicate. I’ll see what it feels like and go from there. Follow the intuition, just like in investing! Thanks, Henry
Realtors - Posted by Henry Shebitz
Posted by Henry Shebitz on March 22, 2002 at 12:57:19:
I have an interesting situation, and I’d like feedback from anyone interested in helping.
I use a realtor who is also a property manager. I bought my first rentals a year and a half ago, and now have 3 properties, 6 units. + cash flow all. Looking to buy more.
This realtor has worked with me very well. But she has just run through a life-changing situation: Left husband, she took the kids, went through the changes, found new boyfriend, who knows what else.
She called me with information re: a new property for me to buy. It turns out I know the seller: I did the inspection on the triplex when he bought the place a few years ago. (I’m a contractor.) I gave her my purchase information, numbers, etc., and I haven’t heard back from her–it doesn’t appear she’s interested any more.
Well, it’s obvious I need a new agent. The question I’m asking is the ethical one. Since I know the seller and have actually contacted him about the property, would it be wrong to buy directly from him (assuming it’s not listed). I feel turned off and somewhat shut out by my agent’s actions and at the same time don’t want to seem vindictive. What would you do? And also, do I NEED an agent to buy and sell? I’m in California.
Thanks all.
Re: Realtors - Posted by Craig (IL)
Posted by Craig (IL) on March 22, 2002 at 13:07:07:
Did you have a written agreement with this agent on this matter? If not, you can do anythng you want. Of course you can contact the seller directly. If the seller has any agreement with a realtor, that is for the seller to deal with.
Re: Realtors - Posted by Henry Shebitz
Posted by Henry Shebitz on March 22, 2002 at 15:22:42:
Craig, thanks for responding. No, no written agreement in terms of RE deals. For me, it’s the ethics. Because she told me about it. But my bottom line feeling (I’m from CA) is I don’t trust her being there for me any more. Two friends of mine, both of whom have dealt with her, happily, before, have listed properties with others, costing her potential thousands in commissions, because she didn’t return their calls in time.
I will take in what you’ve said, and go to my next learning level. Thanks, Henry
Re: Realtors - Posted by Nate(DC)
Posted by Nate(DC) on March 22, 2002 at 15:55:36:
If you’re feeling really bad about it, call and leave her a message telling her that you’re going to contact the seller yourself since she hasn’t been spending the effort she needs to. Then if you don’t hear back from her in a short time (I’d give her a day or so) go for it. The other posters are right - you’re under no legal or moral obligation not to approach the seller directly - but if your conscience just can’t be right otherwise, try my suggestion.
Good luck,
NT