I’m sure buyers pay too much every day. When you are representing for sale by owners and the buyer comes without an agent, what safeguards are in place in your operation for the seller to not “make a killing”? I don’t think there is any law against a buyer overpaying for a property. So if the buyer did so and represented himself in doing so, then maybe he’d be happier with “ignorance is bliss”. Most would be.

I’m sure the other agent would have some claim against me personally, if I revealed this to HIS client through you. Sorry if you can’t make money off my story. Hopefully people will get a better understanding of the risks involved in going to the listing agent direct, or the seller direct, and be better informed. Not saying they shouldn’t do that, as there are benefits as well. Just saying the agent is not obligated to advise the buyer regarding price etc., if they represent the seller at the time you meet them. If the buyer offered that price, I don’t think the agent had any obligation to say “you offered way too much” does he? I don’t think Dual Agency requires that…but I could be wrong. I’m sure as the seller’s agent he isn’t required to tell the buyer they paid too much. So where’s your case? Injustice doesn’t always equal illegal.

In any case, I notified his broker and my broker before the sale closed. I think that is the extent of my authority to “report”, which I did. I reported it before it closed so the Broker could advise his agent, given the agent’s close personal relationship with the seller. It closed at the inflated price, so I assume their attorney or their Broker found no fault on the agent’s part.

Any buyer who does not have their own buyer’s agent should read about escalation clauses, is the moral of this story. And one many who read RCG can learn from. Not bragging…informing. In fact, I think I’ll change the numbers and tell the story in a post rather than down here on comment 65 of an unrelated topic.

I very much appreciate your research. It is very important for MLS services to be very clear about this rule. Most if not many have restrictions regarding passing out Agent format printouts due to security codes to homes and Agent remarks like “owner is on vacation this week so go show and sell”.

I believe simply emailing pdf formats as general policy is not a good idea, and agents need to be mindful of ALL the info on that sheet before transmitting it, as I’m sure REBA is. I am more likely to hand it to someone in person or circle the commission portion in red so they can see that, but not let that paper leave with the client, unless I have blacked out the security issue info.

People can be careless with that info and leave it on a table at work or in the lunchroom, and others will then know the owners home security code. So “giving” it and “showing” it are two different things. Clearly if that printout ends up in the hands of a thief, inadvertently, because the client tossed it in a public trash can, is the liability of the agent who transmitted it or handed it out. Don’t you think?

If the thief left the print out in the house as a HA HA when he robbed the place…I’d think Craig, you would take the case

Alerting people in a blog about such things so that they can be mindful and not fall victim to the same injustice is “of value” to readers IMNSHO My client is reading this and he can, if he so chooses, contact you directly. You are after all…”reachable”.

My client knows this person now, so clearly it would be up to my client to reveal this or not to that party and to advise that party of your offer. Not me.

Passing this post in a link to my client is the best I can do for you.

As an attorney, I have the unique opportunity to not only prevent injustices (like agents, by promoting fair transactions and by protecting my clients’ interests) but also to correct injustices after they have occurred (through the threat or initiation of litigation). As agents, you all have direct insight into some pretty shady business practices that undeniably cause harm to many members of the public (how many “full price offers” will be submitted TODAY based not on the value of the property but on the undisclosed bonus to the buyer’s agent?). You should share that information with people like me who can do something about it. At the very least, Ardell, you should not brag in a public forum about some injustice but them invoke a weak claim of confidentiality to absolve yourself of any further responsibility. Talk to your client. Get me the information. Let me right that wrong — [cue dramatic, patriotic music] — and hopefully get paid in the process [cut music with screeching, needle-pulled-off-record sound].

Confidential Agents-Only Remarks. Keep in mind, even though only agents see these remarks, they may be disclosed to potential purchasers. In addition, NWMLS requires that any comments comply with state, federal and local fair housing laws.

So it appears that Reba’s acts are consistent with NWMLS rules. That makes sense, as the NWMLS could potentially face some liability if it prohibited the sharing of this type of information. Thus, the only claims are against the individual buyer agents who fail to disclose the conflict of interest inherent to commission bonuses (at least those based on procurring a “full price offer”). I think we all agree that this conduct is inappropriate, unfair, and deceptive. Now all I need to do is to figure out how to find a client…

I’m pretty sure turning agent printouts intp PDFs and emailing them is “not allowed”. That is why that version is not “emailable”. It has seller phone numbers and other info that only you as the agent are permitted to see. If you do that as you say, you may want to say that you do it, on a blog.