Beaverton Oregon Real Estate Advice: Todd, we found you on Activerain, can our agent do this?

By
Real Estate Agent with Keller Williams Realty

I love to hear the first part... that someone found me on Activerain. But the second part, about can our agent do this? Oh, I hate to hear that, because I usually know that it isn't good, and more than likely, it is going to be a legal question that I can't answer anyway.

Well, today's question that was brought to me was this...

Myself: Thank you for calling this is Todd, how can I serve you today?

Seller: Todd, my name is blank and we have a home for sale and we found your name on Activerain.

Myself: Great, how can I help today then?

Seller: We have a question for you about our agent and if he can do what he did or not.

Myself: Well, more than likely this is going to be a legal question and I may have to refer you to the state, I can get you that number.

Seller:
Ok, but let me run by our scenario with you and see what you think.

Myself: OK, shoot!

Seller: Were a FSBO and this agent came to us before we were ready to list. Finally, my wife and I decided we needed the help of an agent and this guy seemed to be helpful prior to listing our house, so we thought we would give him a shot.

He was good, did everything we expected and promised he could have our home sold in 90 days, as we requested, because we have another home under contract contingent upon this home selling.

So, we gave him a 90 day listing and after 60 days we had about 15 showings, but no offers and he suggested we lower the price and sent over a price reduction form, which I agreed to discuss with my wife. While discussing doing this we got a call for a showing the next day, and decided let's see what happens before we lower the price. Then we got another call, nd then another for a showing. In two days we ended up having 10 showings. We thought we had hit the lottery and decided not to lower the price just yet.

Myself: I could understand that and I wouldn't have either with that much activity.

Seller: Exactly! After 48 hours we got 3 offers, all lower than we were willing to take. But the last one had a multi offer addendum and a little note at the bottom that said, this is just in case our offer isn't the best already, but being we are offering $2000 more than your present asking price, we really hope ours is the best. My wife and I just looked at each other and said "WHAT?" It was actually $18,000 less than our asking price and we decided to head to the internet to read that the price of our home had been lowered the day before by $20,000 and the description line said, "Seller's desperate $20,000 price reduction, we need to sell or we will lose our new home!"

We couldn't believe what we were seeing, we hadn't signed the price reduction yet and if we had, we still hadn't discussed how much we were going to lower it yet, if we did.

So, my question to you Todd, can our agent do this without a signed document from us?

Myself: Well, no he really can't and I would call the Oregon Real Estate Agency and tell them what you told me. They can tell you exactly what you need to do and who you need to talk to. I'm sorry I really couldn't be of more help other than giving you the phone number, but that really is a question for the Oregon Real Estate Agency Legal department. I wish there really was more I could do, but here is the number it is 503-378-4170 or you can e-mail them at orea.info@state.or.us and please keep me informed of what happens.

If you are a buyer or seller and have any questions about real estate, please don't hesitate to call the Oregon Real Estate Agency, they are there to protect consumers. If you would like to ask me a question about real estate, I would love the chance to sit down and talk with you, educate you, and hopefully build a friendship!



Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739



© 2009 Todd Clark - Beaverton Oregon Real Estate Advice: Todd, we found you on Activerain, can our agent do this?

Posted by


Todd Clark (broker w/ Ken's Home Team)
Keller Williams Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573

 

 

 

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 I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.

 

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Topic:
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Comments 64 New Comment

Rainer
88,169
Jean Powers
CRS,e-PRO,HAFA,SFR Broker, Northern California
Kane & Associates call 510.908.9002
Oh My Goodness, in my state, which there are more lawsuits than people, that agent would be in court and not only have to pay the owners the price reduction, the agent would be liable for more!
What makes me crazy is that these types of agents give our profession a bad name and gives the public more reasons to distrust us!!!
May 03, 2008 10:08 PM
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Todd Clark
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494
Keller Williams Realty

Christy - I'm guessing it is going to get worse before it gets better. I'm pretty sure they are not going to accept the offers, but at the same time, that means they are going to lose the home they are trying to buy.

Pam - I'm just hoping it was a mis-understanding, but, I'm not sure how it could have been. No signature, no price reduction.

Dick - And even sadder is this is the ones the public remembers!

Kathy - It has been awhile since I've had something bad or weird happen to me, I was hoping that someone else was starting to get them. Looks like they just gave me a break from them.

May 04, 2008 07:03 PM
Ambassador
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Todd Clark
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494
Keller Williams Realty

Michael - ME TOO!

Cindy - I hope they find a new profession soon!

Bob - That is some pretty big ones!

Linda - Thanks!

Patricia - I got a call from someone claiming to be from the agency today, but the number didn't match the one I have on my phone. I told them I didn't know anything about it besides what the seller told me and that I told them they should call the state and ask.

Eric
- I don't know if he is or not since I didn't ask his name or company. I didn't want to get involved. But the seller hasn't called me back yet!

Darleen - Exactly!

Jean - I would love to see these sellers be able to sell their home for the lesser amount and have the agent pay the difference.

May 20, 2008 01:16 AM
Rainmaker
680,445
Lanre Folayan
I don't make promises. But I do deliver results.
Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC

You have a great memory to actually remember everything that you said in the conversation which seemed like a lot to me. I actually got a call from someone yesterday. She said that she found out that when she got to closing that there was a tax litigation on the house. Now she is trying to get her earnest money deposit back. To cut a long story short,I told her to she needs to talk to the broker of the office. And if she is not getting the help that she needs,she needs to call Department of Consumer and Regulatory Affairs. And we wonder why some people just dont trust real estate professionals anymore? Great post Todd.

May 21, 2008 03:59 PM
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Todd Clark
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494
Keller Williams Realty

Lanre - I wrote this post within 2 minutes of taking the phone call, so it was pretty easy to remember what I said. But, it is so important not to give legal advice, but give them the contact information of the people who can help them. It is a shame when someone like this gives the rest of us a bad name and when I run in to a FSBO that says they won't use another agent because of their experience with just one!

 

 

May 21, 2008 04:14 PM
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