The Best Piece of Advice I’ve Ever Gotten Came from my Grandpa
He said, “If it doesn’t feel right to your gut, don’t do it.”
Boy! That’s saved me a few times, especially in the Real Estate Industry where your reputation is everything and your license is on the line every day.
Yes, we are licensed. We go through classes and testing, background checks, training and more to be good agents. Those of us who value our licenses and careers work very hard and are very careful to make sure what we do is legal and ethical.
A perfect example where this piece of advice kept me out of potential trouble:
About a year ago, I was approached to list a home for sale. This seller would not let me have access to the house. They sent me the pictures of the interior of the house, they wanted to review a blank listing agreement prior to filling it out, they wanted me to put my sign in the front yard and take a picture of it there for marketing purposes. I did not have a key, they would not give me a key.
I was dealing with the sellers’ “power of attorney” and not with the sellers directly. He told me that I would get paid a commission but they already had a buyer and due to the fact that the property was part of a bankruptcy, they needed a real estate agent to “market” the property and manage the transaction.
I did a little digging and this is what I found: The sellers’ power of attorney was related to the potential buyers! This means it is not an arms length transaction, meaning the buyers and sellers have a relation of some kind instead of being strangers as most banks require when you are trying to sell a property in a short sale or foreclosure scenario.
I called legal council and they recommended that I call the sellers directly. After all, who am I really representing here? So I did and the sellers were very nice and were aware of the whole situation and were willing to sell the property.
Well, the next thing I know the power of attorney is calling me and yelling at me in a very rude and disrespectful way. I informed him that I was following legal advice and just trying to cover my butt as well as watching out for everyone involved in this deal. He basically didn’t like what I told him and suggested that if I weren’t willing to do it his way and deal solely and only with him, then we needed to part ways.
That’s what I did. I know he found another agent to work his deal and I don’t know what’s come of it but it just didn’t feel right to me. Fortunately, I have a broker that backs my instinct and supports the agents in his office to do what is best, both legally and ethically.
