unethical agents

Another case study… for agents (Part 1)

dontbeagent-2

In general,  in real estate, there is a lot of weird and dirty tricks being deployed to come out on top. This happened recently to our fellow agents.

Scenario:

  1. Agent A and Agent B co-broking on an RM 530k apartment
  2. Agent B brought a potential buyer for viewing
  3. Buyer came but insist on bringing the girlfriend for a second viewing
  4. Both came a week later and was satisfied with the unit but needed to renovate the unit extensively. The buyer said he needs to get his contractor relative to do a site visit to estimate the cost.
  5. This happens the following week. However, Agent A couldn’t make it (it was a weekend and with things to follow up) and told Agent B to take care of it during the visit and try to close the deal.
  6. Buyer finally decides to make an offer and both him and the owner came to an agreeable price.
  7. However, while waiting for the buyer to come out with a cheque (earnest deposit), the owner called up Agent A and told him that a lady agent by the name of C****tine from M****City called him and says she will drop by to hand over the cheque for the purchase.
  8. Agent A was dumbfounded. Nevertheless, still get the owner to entertain the lady and see if this was indeed true as he nor Agent B could make it to the unit.
  9. The owner called back not long after saying this offer and cheque came from the same buyer Agent A and Agent B is working on.
  10. Both the agents tried calling the buyer and the lady agent to confirm the whole fiasco.
  11. As expected, none picked up their calls.
  12. Moments later, the buyer texted both agents and mentioned that he has not made up his mind buying the unit.
  13. Agent A felt something amiss and did a search on the lady agent. Her name, number and face popped up in one of the property portals.
  14. He sent the pic to Agent B.
  15. To be continued….

Unpleasant surprise during a viewing

This morning, while waiting for my next appointment, I received a call from my client, the house owner whom I’m supposed to meet with my buyer later. The call came in almost 1/2 hour earlier before the viewing and he told me that there was an offer made to him by another agent, who claimed that he know me.

The line wasn’t clear at that point and I was crossing the road while my client kept telling me that ‘my buyer’ and the other agent (I supposed my client don’t care much about who is who at this point) made a cash-buy offer. I was like…??? “Didn’t we confirmed the appointment/viewing 1/2 hour later?” I don’t think my buyer got there so early and made the offer without my presence. The house owner also told me the agent lowballed him with a ridiculous offer.

The agent then proceeds to get my client to sign an agency appointment letter for exclusivity. He was told to return with a better and more solid offer and also without having to sign the appointment letter.

When I got to the scene, my client showed me the agent’s business card and I told him I don’t know anyone by that name. This is indeed a blatant way to make up stories to confuse a home seller, just to have yourself an appointment letter and trying to go exclusive. Please don’t be so low fellow agents. If you need to, learn to do things the right and honest way. Don’t beat around and quote someone’s name if you don’t actually know them. When yu do this, instead of getting closer to the home seller, you are actually pushing yourself further away as you lose trust from them.

TLDR (too long didn’t read) version

  1. A roguish agent approach my client with an ambiguous cash offer out of nowhere
  2. Client called and informed me that the agent quote and knows me
  3. The agent suggest that my client sign an appointment letter with his agency for exclusivity with the promise of a cash deal
  4. Client declined and we proceed with the viewing

Although home sellers are for all to approach, it’s the ‘way’ how we do it separates the proper and the immoral ones. And, never, never quote anyone that you are not associated with – with anything.

Nevertheless, you can always come to Avid Estates to learn a few tricks on how to be a good and ethical estate agent! Cheers!