I recently had the pleasure of sitting through one of the most tension filled and difficult closings I have had in the last several years. I represented the buyer and the sellers were represented by the listing agent that worked for a major local real estate company. The day before the closing there was a contractual issue that arose that resulted in a riff between the listing agent and her clients. The terms were clearly spelled out in the contract but the sellers claimed the listing agent never explained the contract or misrepresented it. Again the terms were clearly spelled out and signed by the seller so in my opinion the blame falls squarely on the seller. However, the upshot was the listing agent ended up rebating approximately $800 of her commission to the sellers which apparently was not easy to agree too and had to involve the attorneys.
At the closing the situation just added a needless degree of tension and drama. The sellers were basically mad at their agent and her handling of the situation. While we worked through the closing it was more difficult then it had to be.
As I think back about this situation it demonstrates a fundamental difference between the mindset of a broker and that of simply an agent within a firm. As a broker, I am a stakeholder in the company and have a vested interest in making sure my clients leave a closing happy even if I am not at fault. My name is on the company not some firm based out of state. There is absolutely no way I am going to squander a relationship over $800. I just won't let it happen. As a broker, I take a long term outlook on my business and my clients. To lose a client over $800 is short sighted. Yes, some agents are struggling and $800 may just be the mortgage payment for the month. However, the squabbling over $800 and total alienation of a client was even more baffling in this situation in that the agent was in a classic "double Dip". That is she represented her clients on the sale of their existing home and then represented them as buyers on a larger home in a closing the same day. Basically great clients that now think their agent is incompetent and will likely never use her again.
My promise to you. If you are every unhappy with anything in a transaction I will do my best to make it right, even if it costs me $800! I want you to be a client for life and raving fan of me and my firm. I will do what it takes to make this happen including putting your interests above my own in each transaction as my fiduciary responsiblity dictates.
If you have any questions please do not hesitate to contact me. Thank You!
Sincerely,
Kevin Clancy
518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com
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