By: Marcel Gladu

Who’s working for who?

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This is an ongoing issue that I feel the need to discuss. I’m sure my fellow co-workers will either despise me for writing it, while others will definitely agree with what I’m writing.

Lately, I’ve been frustrated; with reason, with agents processing or inputting listings on the MLS system when they already have accepted offers.
My feeling is this. If someone employs me to list and market their property, I owe them a fiduciary duty to represent their interests above all else. That being said, when I list a property, I process my listing on MLS and allow any potential realtors access to my listing in an attempt to get my clients competing offers or to show that a reasonable attempt has been made to get my clients top dollar for their home. It’s the right thing to do.

If I suddenly list a home and bring an offer on it the very same day with my own buyer, it appears as though, I didn’t make a valiant effort to properly market that property by allowing as many agents through and that I may have been trying to line my own pocket with the full commission.

I’ve recently listed a house on a Friday and that day, I had 7 requests to show the property throughout the weekend by various agents. The first agent that showed the property wrote an offer that same evening. I could have presented the offer but in fairness to all the other agents who requested showings, I contacted them, and requested they show the house as soon as possible as an offer was being presented on Saturday evening. It was the right thing to do. I allowed all buyers and their agents’ access to the property, secured a second offer for my seller clients and at the end of the day the house sold for 100% of its asking price, without upsetting anyone.

Last week I requested to show a listing from a rookie agent, who advised me that the sellers weren’t ready for showings that day. I requested the showing for the following day. Much to my dismay when I called the next day to request a showing, I was advised that the sellers had accepted an offer. I thought it was strange, that I couldn’t show the house because it wasn’t ready for showings but magically they were able to accept an offer. I later found out that his own buyer client viewed the property (the same night, I had requested to show it), wrote an offer and had the offer accepted. I was furious! Was he really representing his sellers best interest? Should he not have contacted any agent who had requested showings to advise them of an impeding offer and allow us access right away to show it to our prospective buyers? It appeared to me that this agent had a hidden agenda. He must have needed the entire commission, who knows. I just feel terrible for his sellers who weren’t really given a fair shot at the market. It could have sold for more, we will never know. What I do know: is that I won’t waiver or slightly wander from my principles and the way I conduct my business. I sleep well at night and will continue to do so….

Happy Buying and Selling!
Marcel Gladu,
Broker
Re/Max Crown Realty 1989 Inc.

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