Weasel Hunting Season Has Begun.....

I have never been so floored as I was tonight! Yes, I have that German blood that is quick to boil and the temperature starts rising when 1) I am lied to or 2) Some opportunistic weasel tries to take advantage of someone that is: disabled, elderly, well-off financially, or disadvantaged financially.

I received a call from one of my agents at 7am this morning. . .He is frantic because he forgot to give me a message while of floor duty yesterday. Not a big deal I am sure. . .I thank him and mentally shuffle the phone call somewhere between number 417 and 892 on my to do list for the day. This client who called is an amazing woman and I feel blessed and honored to represent her on the sale of her home. As I am working away (paying bills. . . uggg) I think to call her. Once, I have her on the line, she sounds worried. She tells me her friends are selling their house and their agent (yes, I am afraid to say a local licensed Realtor but not one that is affiliated with Preferred Properties) is giving them the "run around," not explaining things to them and they have questions that aren't getting answered. My client asks if I will look over their paperwork to help put their mind at ease because it just didn't feel right. I said, "Of course." My client comes immediately to my office. I look over a form with numbers that don't add up. . .I have an idea of what this other agent was trying to do, but want to double check for certain. I then ask my client if her friends are willing to talk to me because I have a few questions and quite frankly some real concerns.

Late that afternoon, this charming couple arrives around 4:15 to my office. I would like to share with you what I discover over the course of the next hour that makes my blood boil. . .it's not good.

This unnameable agent (I call her Ms. Weasel). . .
*Increased her commission from the original listing agreement. . . without getting permission from the clients.
*This listing agent did not have a valid listing agreement, it had expired months prior.
*Ms. Weasel made them sign a dual agency form without explaining dual agency (dual agency is a conflict of interest that requires authorization by both parties it requires a full disclosure of the process and needs to be explained prior to asking for authorization).
*She drew up a seller net proceeds and had an additional $6700 in the "other category" this was for the seller's to contribute to Ms. Weasel's buyer's closing costs, but it was explained as an extra cost for marketing the property.
*Then Ms. Weasel refused to give them a copy of the offer - purchase and sale agreement (She told them they had to sign the offer first in order to have an offer).
*When the couple was hesitant to sign anything, she told them if they didn't sign the offer that they were going to lose their house because it would go into foreclosure.
*Ms. Weasel then called the couples lender, asked for permission for the company to speak with her (third party authorization) and then this agent reported back what she had found out from the couple's lender:
1. The couple owed way more than she had thought.
2. The couple's credit was bad.
3. The couple would never be able to refinance.
4. The couple was going to lose their house if they don't sell now.

Given my experience, I knew something didn't smell right. . .I ask the couple if I could call their mortgage company to verify what they had been told by their agent (Ms. Weasel). The couple agrees to grant third party authorization. What I find out:
1. The couple qualified for the home modification program reducing their monthly payments.
2. They didn't owe as much as they thought.
3. They were in the first trial period of the loan modification and once they passed the first trial it went to 18 months and after that it was a permanent fixed payment.

Oh my goodness. . the joy and relief that came over their faces when I told them they didn't have to sell their home or take an offer where they would have ended up with nothing and been homeless.

The wife of this couple then looks at me and says, "I have a disability. I can't read and my agent knows this." She went on to add, "It is real hard for me to read and my agent thinks I am stupid and will do whatever she tells us to and she keeps pushing us to sign these papers. It didn't feel write and that is why we are here. . .I guess we aren't so stupid after all."

They leave my office with a plan in place. I can truly say will all my heart - I had a productive day!

People trust us to advise them on one of the biggest decisions they are faced with in buying or selling a home. This is an honor and a privilege. Agents are to always work in the best interests of their clients and NEVER do anything to harm them.

C4N,
Trisha