[quote=drboom][quote=bearishgurl]drboom, it appears from your post, above, that you ended up purchasing a property that had been close to default, (snip)[/quote]
Perhaps I wasn’t clear. The day after BofA tried to screw his seller, the listing agent on the first short sale drove out and pulled up his sign. He had been involved with the listing for a grand total of 4 months. He then made his fee split offer, and we did a deal on another completely unrelated house.
Why are you trying to put the worst construction on this? Are you, like sdr, threatened by the notion that your services aren’t essential to life, liberty, and the pursuit of happiness?
[quote=bearishgurl]Just wondering though . . . How does your wife’s relative feel about you both now after he was cut out of the commission on that deal?[/quote]
He was pissed, and so were a couple of other family members, but they got over it. It’s better than having him hose us on a deal, which he was bidding fair to do, and end up never speaking to him again.
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[quote=bearishgurl]The listing agent actually made less out of the sale than you did because he had expenses and possibly commission splits to boot! So, count yourself lucky here.[/quote]
OK, now I’m beginning to think you’ve got comprehension issues. The listing agent on the house we bought paid out the same 3% he would have paid out to anyone else. Our buyer’s agent did a post-tax fee split with us, and he showed us his payout statement from his broker to head off any questions about honesty.[/quote](emphasis added)
No, you weren’t entirely clear, drboom, but I apologize in that I accidentally skimmed over your first post, above. I have been trying to read the fine print here on Pigg site while wearing very old glasses, due to losing my good ones recently and have more on order. Maybe I should set my monitor to “handicap mode” for the time being, lol ;=)
Okay, so your original listing agent canceled his listing due to BofA’s incompetence (he isn’t the first one, I’m sure). He saw you were good and serious buyers on this failed deal and obviously observed that the agency agreement you had with your relative/agent was applicable to the failed short-sale property only. You DID NOT have a valid Buyer-Broker Agency Agreement with your relative/agent. He then essentially approached you with the commission-split offer to act as your buyer’s agent. He quickly found you another short sale property to make an offer on and your offer was successful after the seller/lender countered once and you accepted the price/terms. Do I have this story right, drboom?
If your agent/relative wasn’t to blame for the BofA foulup, why didn’t you use him to place an offer on more properties PRIOR to when this “old listing agent” approached you with the commission-split offer? Why didn’t you give your wife’s relative (who had already been working with you) a chance to rebate you 1% of HIS commission before you went with this other agent.
How much time elapsed between when this listing agent took his sign down on the failed short sale and when he contacted you with his “commission- rebate” offer?
Did your agent/relative ever present you with a Buyer-Broker Agency Agreement to sign with him for a specified time period? If he did, how long was it for, and did you let it expire or did he release you from it? If he did request you to sign one and you refused, why?
Your answers are neither positive or negative here, drboom, but I’m just trying to explore a buyer’s reasons for “agent defecting.”
