REALTOR QUESTION: A prospective Buyer tours a custom builders empty home & contacts him directly and sets up a meeting to make an offer on the property. Several phone calls have taken place between the parties prior to the meeting. Buyer does not have Realtor representation and the only sign on the property is the builders. Only the builders name is on the graphic & advertising. Buyer arrives at the meeting and the builder is there with a person he says is the List Agent. Although not disclosed at the time, it was later determined that the List Agent was in partnership with the builder. The buyer became extremely uncomfortable with the situation and due to non disclosure, did not make a written or verbal offer to buy the property. The List Agent became enraged & she and her Broker jointly contacted the prospective buyers employer, who happened to be a large title agency & attempted to extort a commission from the title company! This smacks of ethical violations but my question is:Were any laws broken? What legal remedies did the buyer have? No Contract was ever negotiated or written. Had the buyer been in another business, the employer contact never would have happened. Not only did the builder & List Agent lose that $600,000 sale, the buyer would never look at another property connected to the Broker or List Agent due to their unscrupulous behavior. Ethics violations and what else?
Posted on: Mon, 04 Aug 2014 14:03:19 +0000
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