Pelican Parts Forums - RE agent ethics question:

Quote:

Originally Posted by MRM (Post 9226360)

Denis has considerable resources he could call on in Minnesota if he really needed help. He's just asking for informal advice and opinions for the brain trust and he's not the kind of guy who is going to stiff a realtor who works with him. Not that you suggested that, Fint, but others did.

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Yes, the fact that he asked the question leads me to believe he had no intention of doing the wrong thing...but did want to point out that civil law and criminal law were much different...and ethical transactions/activities that are governed by a professional board (like a board of realtors) concerned with the ethical reputation of their professionan are all different. As far as right and wrong, anyone buying or selling used parts here can see that it is deemed negotiable for some based on the amount of money and which side of the transaction they are on. Even in this thread it is obvious that many see the ethics more situational and/or differently than me.

As far as I am concerned, If I saw a home I was interested in posted on Zillow by someone other than the listing agent (my discovery of the home), contacted them, had them do some research for me and their time setting up a showing a for me (expended their resources...time, gas, etc.), I would consider them somewhat in my employ and expect ethical behavior by them and would expect them to be entitled to a commission from the seller...even if I closed the negotiations on my own (unless I had "fired" them for some sort of poor performance in advance with good reason and notice).

When I started looking for my first home...I had a realtor show me one house...I signed no contract with him. Months later, I bought a brand new home (was under construction in a new subdivision). The realtor found out that I had bought a home and came after the seller (big home builder) who had deep pockets...but also lawyers on staff. Apparently this tactic had worked for him before with other realtors who found it easier to give up some money rather than be embroiled in an ethics controversy. The guy tried to make the case that he had mentioned the builder/subdivision when he showed the one home (didn't happen). Since I knew the guy, he figured also...that I would vouch for him...and maybe he would throw a few dollars my way (as I was quite young and poor). Not the case. I made it clear that we had no relationship. Almost cost me the deal as the seller had not charged me a full commission and the price was as low as they could go...and I barely qualified for the loan and had no additional resources.

I often deal with purchase or my ownership of rental real estate...and like any small business, find complications expensive (but not entirely different than when I purchase a personal residence). As I posted earlier, ensure relationships are well-defined.

I guess having family members who can represent you in a murder trial is a good thing. Especially for Denis who still sometimes seems to have the temper (like mine) that I am starting to somewhat age out of (consumes too much energy). My brother is a lawyer and he will not even respond to a legal question...of course all he really has done is corporate work in a very narrow area of practice (which apparently pays incredibly well). He always offers to send me to another, even more expensive lawyer (who charges astronomically)...so I typically stick to do-it-yourself (foolhardy) representation...where I have been lucky so far.