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What do I do here? Caught my real estate agent in a lie
Posted on 11/16/15 at 7:31 pm
Posted on 11/16/15 at 7:31 pm
We believe we've caught our real agent in a lie and feel there is collusion with the buyers agent.
We are in final throws of selling our home where an appraisal has been done by the buyer. We were pretty clear with our agent that we felt we agreed to a sales price that was way to low compared to market value. Every buyer she has brought to us offered the same price which was like 20-30k lower than our asking price. Anyways, during this last offer which we accepted after pressure from her, We asked her to let us know appraisal value once the appraisal was completed.
Realtor responds after appraisal was completed and says they were not provided appraised value.
Today I am accidentally cc'd on the email thread by our real estate agent where our appraised value was revealed to her after the appraisal was done thus indicating she knew the appraised value and lied about not knowing when I asked originally. I ask again, playing dumb with my agent if we can get the appraised value, and she again claims she was not given the appraised value.
Should I get a real estate lawyer involved at this point? I Or is my only real option to cancel the sale and find another real estate agent?
We are in final throws of selling our home where an appraisal has been done by the buyer. We were pretty clear with our agent that we felt we agreed to a sales price that was way to low compared to market value. Every buyer she has brought to us offered the same price which was like 20-30k lower than our asking price. Anyways, during this last offer which we accepted after pressure from her, We asked her to let us know appraisal value once the appraisal was completed.
Realtor responds after appraisal was completed and says they were not provided appraised value.
Today I am accidentally cc'd on the email thread by our real estate agent where our appraised value was revealed to her after the appraisal was done thus indicating she knew the appraised value and lied about not knowing when I asked originally. I ask again, playing dumb with my agent if we can get the appraised value, and she again claims she was not given the appraised value.
Should I get a real estate lawyer involved at this point? I Or is my only real option to cancel the sale and find another real estate agent?
This post was edited on 11/16/15 at 7:34 pm
13
Posted on 11/16/15 at 7:35 pm to lsufanintexas
what did the appraised value say?
and how obvious was the value in the email she got? was it one of 10 things mentioned in an email that could have easily been overlooked and forgotten or was it the only thing in that email?
also, if the most any buyer will pay for your house is 20k less than what you want, then that is probably what your house is worth.
and how obvious was the value in the email she got? was it one of 10 things mentioned in an email that could have easily been overlooked and forgotten or was it the only thing in that email?
also, if the most any buyer will pay for your house is 20k less than what you want, then that is probably what your house is worth.
This post was edited on 11/16/15 at 7:39 pm
Posted on 11/16/15 at 7:38 pm to lsufanintexas
Call her broker and your attorney.
Posted on 11/16/15 at 7:41 pm to Hermit Crab
Appraised value was 22k more than our asking and the buyers offer was 20k lower than our asking.
We discovered as well that all of the buyers she is bringing to us are flippers which she is one. We found this out after signing agent paperwork.
We discovered as well that all of the buyers she is bringing to us are flippers which she is one. We found this out after signing agent paperwork.
Posted on 11/16/15 at 7:48 pm to lsufanintexas
I'm unclear if she agreed to provide you the appraisal price. Normally sellers are not privy to appraisal price bc buyers pay for the appraisal. If all buyers offered the same price then that's probably what your home is worth. Appraisal price doesn't mean much.
Posted on 11/16/15 at 7:54 pm to Hermit Crab
quote:
also, if the most any buyer will pay for your house is 20k less than what you want, then that is probably what your house is worth.
I understand your point and it's something I am fully aware of. What my point is, is that something is fishy going on. All of the other homes in our neighbourhood that were in worse shape than ours sold only a few thousand less than their asking.
Posted on 11/16/15 at 7:58 pm to lsufanintexas
Yeah that's weird
Usually the home should be close to comps the area
Usually the home should be close to comps the area
Posted on 11/16/15 at 8:17 pm to lsufanintexas
How long was your house on the market?
How did you find your listing Agent? Referral or Random
I don't think you can get out at this point without financial loss.
How did you find your listing Agent? Referral or Random
I don't think you can get out at this point without financial loss.
Posted on 11/16/15 at 8:19 pm to ItzMe1972
We are going to chaulk this up as a learning experience.
I have reached out to the broker and will be bringing in an attorney to make sure everything is on the up and up. My expectation is that we will just have to accept it but it still doesn't limit my level of being pissed off.
I have reached out to the broker and will be bringing in an attorney to make sure everything is on the up and up. My expectation is that we will just have to accept it but it still doesn't limit my level of being pissed off.
Posted on 11/16/15 at 8:44 pm to lsufanintexas
The homes we have sold in Louisiana the buyers paid for the appraisal and we were not given a copy. The only time we would have been presented a copy or told what the appraisal value was if the appraisal was lower than the offer.
Posted on 11/16/15 at 8:47 pm to lsufanintexas
I would definitely call your RE agent on the lying and see what the response is. If it is disingenuous I wouldn't feel bad about throwing a name our there associated with your bad experience.
Posted on 11/16/15 at 8:57 pm to MikeD
If you took her professional advice when determining the listing price you may have a civil case, as she had a fiduciary responsibility to you. Violated Law of Agency. Might be able to go after errors and omissions. You could also turn her over to the Louisiana Real Estate Commission and they could take action against her license. Sometimes the agent will compensate you for not going go the Commission, as they don't want to lose or have sanctions against their license.
Posted on 11/16/15 at 9:00 pm to DieSmilen
Trust me take his advice. He is the expert in this area for sure.
Posted on 11/16/15 at 9:26 pm to lsufanintexas
There is something fishy going on here. Sounds like agent is getting kickbacks from buyers agent, etc
I don't trust real estate agents as far as I can throw them, and will always do everything I can do to work without them
This doesn't surprise me at all. Call the board. Of course they probably won't do shite since they are all schmucks. Used car salesmen have more value to society and integrity
I don't trust real estate agents as far as I can throw them, and will always do everything I can do to work without them
This doesn't surprise me at all. Call the board. Of course they probably won't do shite since they are all schmucks. Used car salesmen have more value to society and integrity
Posted on 11/16/15 at 9:36 pm to lsufanintexas
quote:
I understand your point and it's something I am fully aware of. What my point is, is that something is fishy going on. All of the other homes in our neighbourhood that were in worse shape than ours sold only a few thousand less than their asking.
How large is the neighborhood and is your house one of the largest? If you're basing it off price per square foot against smaller homes, it's not going to add up. Just something to consider. I would think the appraisal would take this into account though.
Typically most things equal, larger homes have a lower $/SF and smaller homes have a higher $/SF.
Posted on 11/16/15 at 9:37 pm to lsufanintexas
Is this a cash sale?
Something may be fishy... with the appraisal. Basically the buyer is walking in with 42K in equity PLUS whatever the down payment is. If the buyer is hitting a LTV limit, and it's being based off appraised value, there may be some monkey business with an artificially high appraisal.
I don't know if you would have a cause against her for "lying" as you are not required to be shown the appraised value. Yeah it's unethical for her to lie to you, but the next ethical agent I meet will be the first one I meet.
Another thing to chalk up to experience is that you should have considered ordering your own appraisal when it was evident that the offers were coming in low.
Something may be fishy... with the appraisal. Basically the buyer is walking in with 42K in equity PLUS whatever the down payment is. If the buyer is hitting a LTV limit, and it's being based off appraised value, there may be some monkey business with an artificially high appraisal.
I don't know if you would have a cause against her for "lying" as you are not required to be shown the appraised value. Yeah it's unethical for her to lie to you, but the next ethical agent I meet will be the first one I meet.
Another thing to chalk up to experience is that you should have considered ordering your own appraisal when it was evident that the offers were coming in low.
Posted on 11/16/15 at 9:39 pm to Porker Face
Yeah the Boards seem to only care about collecting fees. For giggles call the local board and ask them how many of their members have they revoked for violations of the code of ethics. They will say none but if they miss a payment of dues they are quick to act and remove access to mls till they have paid. Why have a code of ethics if you are not going to enforce them.
Posted on 11/16/15 at 9:53 pm to lsufanintexas
Eff that.
Call her out.
Call her out.
Posted on 11/17/15 at 8:29 am to Mr.Perfect
quote:
Call her out.
Yep. I'd make a PDF of the cc'd email with the appraisal value, and email it to her asking to explain why she told you she didn't have the appraisal, and your concerns with the way the process has played out. Put her on the spot and force her to defend herself and you'll see the type of person you're dealing with.
Posted on 11/17/15 at 9:06 am to The Spleen
quote:
Yep. I'd make a PDF of the cc'd email with the appraisal value, and email it to her asking to explain why she told you she didn't have the appraisal, and your concerns with the way the process has played out. Put her on the spot and force her to defend herself and you'll see the type of person you're dealing with.
This
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