AverageConsumer
New Member
We were taken by a real estate broker. We started the process to build a home, without the help of any agent, over a year ago. We worked directly with the builder.
But to sell our current home, we enlisted the help of an agent. We signed a listing contract with them. The agent said that if he got in on the buyers agent commission, he would reduce our selling commission. We did not know any better, so said ok. This agent then accompanied us to a few meetings with the builder for our new home, but did not actually do any work for us or on our behalf. He did not initiate a series of events that would cause us to purchase the home, which is my understanding of a procuring agent.
After many months on the market, we terminated our contract with this agent, because we were unhappy with his performance. He was upset, but agreed to terminate and release us from the contract. I just found out that he called our builder and demanded to get his buyer's agent commission, claiming he was our procuring agent. The builder does not have a listing agent, so no commissions are being paid out anyway. We also do not have a buyer's agent contract with the guy.
We were already on the way to purchasing the home when the agent came into the picture. We have not even purchased the home yet, either. Granted, we played along with his game of him being our buyer's agent, and he is now trying to take advantage of us and make easy money. We trusted the guy, which was clearly a mistake on our part. Help!
But to sell our current home, we enlisted the help of an agent. We signed a listing contract with them. The agent said that if he got in on the buyers agent commission, he would reduce our selling commission. We did not know any better, so said ok. This agent then accompanied us to a few meetings with the builder for our new home, but did not actually do any work for us or on our behalf. He did not initiate a series of events that would cause us to purchase the home, which is my understanding of a procuring agent.
After many months on the market, we terminated our contract with this agent, because we were unhappy with his performance. He was upset, but agreed to terminate and release us from the contract. I just found out that he called our builder and demanded to get his buyer's agent commission, claiming he was our procuring agent. The builder does not have a listing agent, so no commissions are being paid out anyway. We also do not have a buyer's agent contract with the guy.
We were already on the way to purchasing the home when the agent came into the picture. We have not even purchased the home yet, either. Granted, we played along with his game of him being our buyer's agent, and he is now trying to take advantage of us and make easy money. We trusted the guy, which was clearly a mistake on our part. Help!
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