|
|
#372570 - 04/13/11 05:48 PM
Fired from active escrow
|
Member
Registered: 01/18/09
Posts: 50
Loc: Nevada
|
I just finished with one of the worst clients I have ever had. I worked with this woman for about 2 months helping her find a home to relocate to. She was nothing but trouble from day one. Literally running every aspect of the deal by everyone she came into contact with, calling me three or four times a day. Never taking the time to digest anything in the contract and finally pulling out of the escrow at the last minute due to concerns that the home had been recently flipped.
2nd escrow went close to the same way except she waived her right to a home inspection against my advice and after her due diligence period was almost up changed her mind. I told her we would have to do an addendum to the contract and hope the seller would go along with it. Things got a bit heated between us although it remained civil. She then contacted my broker/manager and said she wanted nothing more to do with me. What is a reasonable commission for me to receive? My broker- manager took the deal the rest of the way to close for 35 % of my side but the owner - broker said I should have only received 25% of my side.
|
|
Top
|
|
|
|
|
#372582 - 04/13/11 07:38 PM
Re: Fired from active escrow
[Re: Rich Campbell]
|
Member
Registered: 10/02/09
Posts: 207
Loc: Salt Lake City, UT
|
That was very nice of your broker/manager. A lot depends on how much work was left to do. You clearly found her the property, wrote the contract and it sounds like all the manager had to do was to show up to closing. Is that right? In that case taking 35% of your side was very reasonable.
I think your broker/owner is mistaken. If you have done that much of the work you should get more than 25% of the commission. But he/she may not understand how far into the transation you were.
Lesson to be learned here. If your client is that unreasonable to begin with, dump them and move on. It's never worth the commission. These are the types of clients that sue even when its their fault. I hope you had your client sign multiple waivers of inspection and keep them forever and ever. She may not be done with you.
|
|
Top
|
|
|
|
|
#372596 - 04/13/11 10:28 PM
Re: Fired from active escrow
[Re: Rich Campbell]
|
Veteran Member
Registered: 01/19/06
Posts: 994
Loc: New Jersey
|
I just finished with one of the worst clients I have ever had. I worked with this woman for about 2 months helping her find a home to relocate to. She was nothing but trouble from day one. Literally running every aspect of the deal by everyone she came into contact with, calling me three or four times a day. Never taking the time to digest anything in the contract and finally pulling out of the escrow at the last minute due to concerns that the home had been recently flipped.
2nd escrow went close to the same way except she waived her right to a home inspection against my advice and after her due diligence period was almost up changed her mind. I told her we would have to do an addendum to the contract and hope the seller would go along with it. Things got a bit heated between us although it remained civil. She then contacted my broker/manager and said she wanted nothing more to do with me. What is a reasonable commission for me to receive? My broker- manager took the deal the rest of the way to close for 35 % of my side but the owner - broker said I should have only received 25% of my side.
Nothing but trouble from day 1 means you should have dumped her on day 2. Every day from number 3 onward was a mistake on your part. Hopefully you learned from this.
|
|
Top
|
|
|
|
|
#372603 - 04/13/11 11:28 PM
Re: Fired from active escrow
[Re: navarac]
|
Member
Registered: 01/18/09
Posts: 50
Loc: Nevada
|
Thanks for the replies, you are both right on with you responses, I really should have dropped her after the first escrow went south. I tried way too hard to save a deal with a flakey client and it cost me in the long run. I guess I should be grateful to have received any commission from this one so I will shut up while I'm ahead!
|
|
Top
|
|
|
|
|
#372620 - 04/14/11 06:40 AM
Re: Fired from active escrow
[Re: Rich Campbell]
|
Member
Registered: 06/09/07
Posts: 476
|
I think your broker owner is a tightwad and a cheapskate. He got his side and 65% of your side too, and he only handled the final lap of the race. No class, No class!!! Does he keep a tips jar on his desk too?
|
|
Top
|
|
|
|
|
#372730 - 04/14/11 10:20 PM
Re: Fired from active escrow
[Re: Rich Campbell]
|
Major Contributor
Registered: 08/27/05
Posts: 1620
Loc: Missouri
|
Sounds like the broker manager was doing his/her job. You deserve more than a minimal referral fee for a deal that was already well on its way to closing. 25% would have been a minimal referral fee, and you probably should seriously reassess whether or not you want to work for the broker owner who would advocate giving you only 25% for such a nearly-done deal.
_________________________
REALTORŪ, Broker/Salesperson, GRI, ABR
REO listing/selling since 2004; BPOs
|
|
Top
|
|
|
|
|
#373035 - 04/18/11 09:28 AM
Re: Fired from active escrow
[Re: LizL]
|
Veteran Member
Registered: 05/16/10
Posts: 709
Loc: London, Ontario
|
Sounds like the broker manager was doing his/her job. You deserve more than a minimal referral fee for a deal that was already well on its way to closing. 25% would have been a minimal referral fee, and you probably should seriously reassess whether or not you want to work for the broker owner who would advocate giving you only 25% for such a nearly-done deal. That's the best advice here. Clearly your broker is telling you it's time to move on. I cannot imagine the brokerage I work for doing something similar infact at that point in the process I would expect my full commission.
|
|
Top
|
|
|
|
|
#373057 - 04/18/11 03:26 PM
Re: Fired from active escrow
[Re: Rich Campbell]
|
Major Contributor
Registered: 04/12/08
Posts: 4726
Loc: Vermont's North-East Kingdom
|
The economy makes many people a little more testy than normal, and things aren't done in as gentlemanly a manner as they are during good times.
But some places, they only cut a Commission check for the Agent who brought the ball across the Goal, regardless of how many others contributed to getting it down the field to the One Yard Line.
Everyone looks at a situation from their own point of view.
Many deals are fumbled and lost even when they were "close" !
The others in your Office may rue the day that they DID NOT cut this Buyer loose. Some people are put on this Planet solely to make trouble for others.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"
|
|
Top
|
|
|
|
|
#373580 - 04/23/11 08:39 PM
Re: Fired from active escrow
[Re: Rich Campbell]
|
Moderator
Veteran Member
Registered: 01/13/10
Posts: 726
Loc: Maui, HI
|
My broker- manager took the deal the rest of the way to close for 35 % of my side but the owner - broker said I should have only received 25% of my side.
Question, just want to clarify... Your broker-manager took the deal the rest of the way to close for 35% of your side - Does this mean that he/she got 35% and you got 65% of the commission for your side? Or does that mean that he paid you 35% referral?
|
|
Top
|
|
|
|
|
This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
|
|
Registered: 03/04/07
Posts: 1801
|
|
|
Previous Topic
Index
