Dishonest Realtors

[Nubbs]

What is it with realtors these days? :mad: Does honesty and integrity not exist anymore? Here’s the story. My agent and I were working with the listing agents on a piece of property. Several offers and counter offers went on. Finally the listing agents said I would get the house if I upped my offer a bit. So, I upped my offer and the listing agents said the house was mine. My agent faxed over the offer and the listing agent said the trustee would sign the documents on Saturday. We wanted to do an inspection Saturday morning, but we were a bit leery, as we did not have the signed purchase agreement yet. The listing agent told my agent to go ahead with the inspection Saturday morning and she reassured us that the trustee would sign the documents Saturday so we would have them Monday morning. We did this inspection Saturday morning and everything went as expected. Fast forward to Sunday night now. I received a call from my agent around 8:30 last night. The listing agents just called my agent to let us know they received another offer (kind of funny how it just appeared last minute) on the house. The trustee had just signed the documents for the other offer and the house was no longer mine. :devil: So now I no longer have the house. And, I’m out the $250 I spent for the inspection Saturday morning. I can’t believe the listing agents blatantly lied to us. Needless to say I’m a little pissed off. I know $250 is not a large amount of money, but it would have covered gas in the boat for a weekend. That said, does anybody know of anything I can do? Is there a better business bureau for realtors or something similar? They screwed me and I’m sure they’re not afraid of screwing somebody else either.
The listing agents on this property are Monica Abundiz and Troy Barnum. They call themselves “The AmeriCoast Group” at Keller Williams Realty. There information is below.
Keller Williams Coastal Properties II
5001 Lakewood Blvd
Lakewood, CA 90712
562 582-1530 (office)
info@americoast.com
http://www.theamericoastgroup.com/Home
http://www.kw.com/kw/
Monica Abundiz / listing specialist
562 305-5947 (cell)
562 684-0453 (fax)
Troy Barnum / Loan Consultant (Broker)
562 400-6767 (cell)
Be careful if any of you ever deals with Monica Abundiz or Troy Barnum at “The AmeriCoast Group” at Keller Williams Realty. They screwed me and I’m sure they’ll have no problems screwing somebody else too.
So, there’s my rant for the day. Thanks for letting me vent.
Nubbs

[totenhosen]

I suggest you file a complaint with their broker, realtor's association and even the DRE. You can find the broker information at:
http://www2.dre.ca.gov/PublicASP/pplinfo.asp

[RiverDave]

What is it with realtors these days? :mad: Does honesty and integrity not exist anymore? Here’s the story. My agent and I were working with the listing agents on a piece of property. Several offers and counter offers went on. Finally the listing agents said I would get the house if I upped my offer a bit. So, I upped my offer and the listing agents said the house was mine. My agent faxed over the offer and the listing agent said the trustee would sign the documents on Saturday. We wanted to do an inspection Saturday morning, but we were a bit leery, as we did not have the signed purchase agreement yet. The listing agent told my agent to go ahead with the inspection Saturday morning and she reassured us that the trustee would sign the documents Saturday so we would have them Monday morning. We did this inspection Saturday morning and everything went as expected. Fast forward to Sunday night now. I received a call from my agent around 8:30 last night. The listing agents just called my agent to let us know they received another offer (kind of funny how it just appeared last minute) on the house. The trustee had just signed the documents for the other offer and the house was no longer mine. :devil: So now I no longer have the house. And, I’m out the $250 I spent for the inspection Saturday morning. I can’t believe the listing agents blatantly lied to us. Needless to say I’m a little pissed off. I know $250 is not a large amount of money, but it would have covered gas in the boat for a weekend. That said, does anybody know of anything I can do? Is there a better business bureau for realtors or something similar? They screwed me and I’m sure they’re not afraid of screwing somebody else either.
The listing agents on this property are Monica Abundiz and Troy Barnum. They call themselves “The AmeriCoast Group” at Keller Williams Realty. There information is below.
Keller Williams Coastal Properties II
5001 Lakewood Blvd
Lakewood, CA 90712
562 582-1530 (office)
info@americoast.com
http://www.theamericoastgroup.com/Home
http://www.kw.com/kw/
Monica Abundiz / listing specialist
562 305-5947 (cell)
562 684-0453 (fax)
Troy Barnum / Loan Consultant (Broker)
562 400-6767 (cell)
Be careful if any of you ever deals with Monica Abundiz or Troy Barnum at “The AmeriCoast Group” at Keller Williams Realty. They screwed me and I’m sure they’ll have no problems screwing somebody else too.
So, there’s my rant for the day. Thanks for letting me vent.
Nubbs
Send me a file and your next 250.00 part is on me..
RD <---- hasn't heard from anyone in awhile. :( :(

[Riverdog1]

this happened to someone else on this board in Havi. Not the same realtors but it seems like that is the game now.

[TOBTEK]

Sorry to hear of your misfortune. Sounds like a bad deal all the way around. NEXT time DONT do anything untill you have a signed offer back from the seller.....period. You most likely didnt get boned form the listing agent, more likely from a greedy seller. Was it a "short sale" or Bank owned property, these can be very tricky for agents on both sides working with the orig lender. Toby

[cdog]

Sorry to hear of your misfortune. Sounds like a bad deal all the way around. NEXT time DONT do anything untill you have a signed offer back from the seller.....period. You most likely didnt get boned form the listing agent, more likely from a greedy seller. Was it a "short sale" or Bank owned property, these can be very tricky for agents on both sides working with the orig lender. Toby
Yes, Yes, Yes! Greedy seller! 99% of all agents don't want to be involved in a deal like this. There is basically no more money in it for the agent to screw you over. Contracts must be in writing to be enforceable so you really have no recourse. Work with an agent who understands this. Your agent sounds desperate to get you to commit to purchase. If you’ll consider Yorba Linda, Orange or Anaheim hills I can show your some REO’s from 650k -1,000,000 that are 100k+ below what they were a year ago.

[Nubbs]

Sorry to hear of your misfortune. Sounds like a bad deal all the way around. NEXT time DONT do anything untill you have a signed offer back from the seller.....period. You most likely didnt get boned form the listing agent, more likely from a greedy seller. Was it a "short sale" or Bank owned property, these can be very tricky for agents on both sides working with the orig lender. Toby
It's a probate sell. Very possible the trustee may have screwed me. However, the listing agents could have declined the offer as the documents were supposed to be signed before the offer was received.

[socalmofo]

That is a tough scenario. First off not all Realtors are dishonest people. the ones who are succeding right now are very competent business people.
The listing agent has no right to sell you that house. 100% Verbal agreement. Could they have done some shady things, yes, and most likely. Verbal agreements are nothing to some people these days, they are to me. My guess is the listing agent has their own buyer and was waiting for the buyer to decide on the property. I would have advised you against ANYTHING prior to having a signed contract. This may not be what you want to hear but your agent did not to their fuduciary duty by allowing you to pay for an inspection prior to a fully executed purchase agreement.

[Nubbs]

Send me a file and your next 250.00 part is on me..
RD <---- hasn't heard from anyone in awhile. :( :(
RD, thanks for the offer. However, we bought our own machine.

[cdog]

It's a probate sell. Very possible the trustee may have screwed me. However, the listing agents could have declined the offer as the documents were supposed to be signed before the offer was received.
Wrong. Fiduciary is to the seller or Trustee not you. This is why it’s wise to have your own agent (with strong negation skills). Counter should have expired within 24 hours not the standard 3 days. Look at item 3 on your counter.

[Nubbs]

Wrong. Fiduciary is to the seller or Trustee not you. This is why it’s wise to have your own agent (with strong negation skills). Counter should have expired within 24 hours not the standard 3 days. Look at item 3 on your counter.
Can you explain what fiduciary is? I do have my own agent working for me on the property.

[uLtRADeNniS]

Ask your Realtor to pay you back the $250 or to pay for the next inspection if you are still going to continue to use him to search for properties. I think this can be easily handled with out getting the DRE, NAR, his broker or God involved.
Any RE agent thats worth a damn, would pay up.... I would.
Good luck.
Can you explain what fiduciary is? I do have my own agent working for me on the property.
where one person places complete confidence in another in regard to a particular transaction or one's general affairs or business. The relationship is not necessarily formally or legally established as in a declaration of trust, but can be one of moral or personal responsibility, due to the superior knowledge and training of the fiduciary as compared to the one whose affairs the fiduciary is handling.
Wrong. Fiduciary is to the seller or Trustee not you. This is why it’s wise to have your own agent (with strong negation skills). Counter should have expired within 24 hours not the standard 3 days. Look at item 3 on your counter.
Wrong Cdog.. The first page to ever be signed is a Agency Relationship Disclosure. If an agent is representing both parties they have a fiduciary relationship to both parties. This is also when negotiating offers. The agent has to do what is to the benefit of both parties.

[cdog]

Can you explain what fiduciary is? I do have my own agent working for me on the property.
In the AD-11 Agency Relationship form is defines Fiduciary as: (put in context to the seller only).
A seller’s agent under contract acts as the seller’s agent only. Obligations are. Care, integrity, honesty and loyalty in dealings with the seller.
The window within your counter was leverage to obtain a higher price from another buyer. Would I do it? No! But they are well within what's considered legal. Your agent did not push the issue so I’d say it was lack of negotition.
Consider it this way. Your agent does what’s in your best interest. The seller’s agent does what’s best for the seller. As an agent you need to paint the opposing party into a corner when committing to an offer.
The art of negotiation.

[cdog]

Wrong Cdog.. The first page to ever be signed is a Agency Relationship Disclosure. If an agent is representing both parties they have a fiduciary relationship to both parties. This is also when negotiating offers. The agent has to do what is to the benefit of both parties.
Re read his statements. You are wrong in your assessment. This is not a dual agency situation.

[desertbird]

Ask your Realtor to pay you back the $250 or to pay for the next inspection if you are still going to continue to use him to search for properties. I think this can be easily handled with out getting the DRE, NAR, his broker or God involved.
Any RE agent thats worth a damn, would pay up.... I would.
I think I agree. I'd be disappointed in my agent for letting me continue w/o a signed contract.
The wife and I have been looking at a lot of homes lately, and met a lot of sleazy realtors. Now we're trying to find a way to buy another, while keeping the condo for a rental. We already had a few deals fall through on the sale of ours, so we're getting a new agent, but also realizing the bottom has already dropped out for the first time buyer, and it's gonna be real hard to find someone who can truly afford to buy our place. As it is, people are losing their condos in my complex already. 1 closed short, one posted short, and a banked owned REO on the MLS right now.....pretty stiff competition, if you know what I mean. :(
We might end up buying another condo in the complex to make a rental if this continues!! :jawdrop:

[Baja Big Dog]

Wow...a dishonest realator in this day and age???
He wont last long, he will be selling cars next month!!!

[ViB]

A dis-honest Realtor...one who places the 'deal' over their fiduciary responsibility to their client. That would be quite a few of them...
But look at the bar for entry, how many Realtors have 4 year degrees in real estate? how many have the equivalent of an advanced degree? Not to slam my own profession, but I really wish it was different.
This market will correct/eliminate a lot of the people that entered in the last 1-11 years for the easy money, about the time that some legislator decides that we need a few more laws to fix a problem that the market is already correcting.

[redneckcharlie]

Wow...a dishonest realator in this day and age???
He wont last long, he will be selling cars next month!!!
What do you mean next month? He was probably selling them last month! :D
I see this type of situation almost every day in my line of work. I'm a General Contractor. The bottom line with this type of situation, is the complete lack of integrity, in most people and in most situations. It doesn't sound to me like his agent did anything wrong. It seems he was acting in "good faith". May not have been the best decision, but most likely didn't have any malice intended. I think many people could benefit greatly by taking a class in ethics and good business practices. Its no coincidence that the people that are honest and reputable are generally fairly successful. And the ones that are going from deal to deal, will most likely be chasing success for a long time.

[WishIknew]

Wow...a dishonest realator in this day and age???
He wont last long, he will be selling cars next month!!!
Just wait till Jay see's this HELLO

[PaPaG]

Wow...a dishonest realator in this day and age???
He wont last long, he will be selling cars next month!!!
OUCH :D

[YeLLowBoaT]

If you had signed papers with them and they take another offer... they just ate 3% of the selling price.

[NashvilleBound]

Not all realtors are dishonest. But stories like this make it tough for the ones that are honest..... just like in any trade! You should always be represented by your OWN agent. The sellers agent has their interest in mind first even if they are working as a duel agent. Its just not a good idea. I hear stories like this allot.... as a developer and builder my agents only have one strike..... then its hit the road. I have no time for games or lies from these agents. As a general rule I dont trust any of them..... as in most trades.... till they prove themsleves trustworthy. I do suggest you call their broker and complain. Really wont do anything but voice your concerns.... brokers are responsible for these agents and they should know....

[Parker Dreamin]

Are they Realtors or Real Estate Agents ?

[talkinghead]

It's all about the Realtors - clients are a distant 2nd.