Realestate Agent Threatening to Cancel Selling Contract

LBob12345 on 11/10/2021 - 21:05
Last edited 12/10/2021 - 08:30

Dear Ozbargain Community,

My Father is in his late 60's and looking towards retiring. He had planned to sell his investment property to pay off his mortgage. The property has been rented out for nearly 12 years + with one real estate company (A very large Australia wide company), we have had many agents take care of the property in the rental department and they have been a mixed bag. He in August made the decision to sell the property. We made a contact with the agency in regards to selling the property, to compensate the agency depending on their performance. Eg if they received offers that were very high compared to the market price we would give them nearly double the normal commission, for the price they managed to obtain above the value we expected. I think we all expected a price in the 300000-330000, the agent managed to get an offer of 360000.

We were happy with the offer and signed the contract on Monday (4th October), all parties had signed. Today the real estate agent called my father demanding a further doubling of the percentage they would receive over the expected price. When my father kindly advised her we had already signed the contract and that she was already being compensated more than any of the other real estate quotes we received, she said she wanted to crush the contract and would be advising the buyers that they are overpaying for the property. I personally don't work in this field of work, however, this feels morally ambiguous.

Is there anything that we are able to do?
Are there any government bodies we can convey this information to?

My father was quite shocked by this, he is quite scared to raise this with the manager of the agency, as he worries the agent will try to interfere with the contract.
Any advice is very much appreciated and thank you in advance.

Further clarification, the Property is in outer Brisbane area (Ipswich), it is a small house on a small block and quite old. Hence the pricing. Unfortunately we do not live in Brisbane but interstate:

The contract with the buyer has a 2 weeks period for pest, building and finance. If the buyer in those two weeks decides not go ahead with the purchase we have no recourse.

My dad has already agreed to increase the real estates commission because of their ability to get a higher price. For the 30K they managed to get more than we anticipated they will be getting an additional percentage on top of he normal rate. They came back to us yesterday asking for a bigger commission.

Financial

Comments

            • bobbified on 12/10/2021 - 17:59
              +1

              @Bargainitis:

              I'm all ears on your criticism btw…. please correct me

              I don't need to - Amaris already has!

              The problem isn't so much what you've written - it's your condescending tone.

              • Bargainitis on 12/10/2021 - 18:00
                -2

                @bobbified: lol did you bother reading my reply to that?

                My response was directed at the OP and I tried to list out some options.

                Didn't think i'll do collateral damage with people who are so sensitive… man, you have to tread on egg shells with this new age culture.

                • bobbified on 12/10/2021 - 18:08
                  +2

                  @Bargainitis:

                  lol did you bother reading my reply to that?

                  I did actually. I saw you apologise, but then just turn around to continue spewing random crap.

                  Like this:

                  1) Legally, it would be surprising under the selling agency agreement to enforce full commission if the deals falls through.

                  This is not surprising and not as uncommon as you think. I've seen this on a number of contracts between the vendor and agent. And I've seen also seen it enforced - although on a few occasions, the agent was willing to negotiate because the deposit was quite small.

                  with people who are so sensitive

                  Don't get me wrong - I'm not offended at all. Not the tiniest bit. I'm just not a fan of arrogance.

                  • Bargainitis on 12/10/2021 - 18:42
                    -1

                    @bobbified: Sigh… (separate note, can you teach me how to quote please?)

                    There are a number of practical fallacies with what Aramis and you have raised. Honestly, I didn't want to get sucked into this debate but we're now 5 replies deep so you got me hooked.

                    1) on Aramis' comment, I just scrolled up to see OP's replies and he stated there is 2 week cooling off period. If thats the case, the deposit will be returned to the buyer. In that scenario, the agent wouldn't be able to charge any commission. So where is the agent's leverage here?

                    The vendor simply fires them and goes to another agent. Isn't that the logical conclusion.

                    2) Then with your last point and in the event a deposit has been received, like I said, i would be surprised if they enforce the full commission as it is indeed uncommon. Its either negotiated down and they relist it, assuming the falling out was bona fide. In this case it isn't bona fide given the agent is trying to coerce an negative outcome.

                    But again, where is the Agent's leverage here? if the Agent enforces the full commission, it would be based off the agreed and original commission structure. The outcome is no different to status quo. The OP will then find another agent.

                    The only poster that referred to the deposit and leverage other than me was tsunamisurfer (I only just read his post now). Effectively reaching the same conclusion which is the agent doesn't really have much of an edge in this scenario. He was more suspicious of the OP but the average person without much experience would find this type of confrontation overwhelming (which goes to my earlier point about coming here to seek advice).

                    Finally, putting aside whatever tone i'm typing out with, i'm struggling to see how both Aramis and your responses have highlighted where I have provided misleading observations though…. if you are simply negging me for my tone, so be it but don't falsely discredit me on substance. "Random crap" you say? funny coming from someone who hasn't added any value to this thread. I'm still waiting to see you actually write something meaningful to prove me wrong?

                    • Amaris on 13/10/2021 - 00:03
                      +3

                      @Bargainitis:

                      practical fallacies with what Aramis and you have raised

                      What 'practical fallacies' are you referring to?

                      I just scrolled up to see OP's replies and he stated there is 2 week cooling off period

                      Are you saying that there can't be a 2 week cooling off period?
                      From OPs post and comments it seems the agent is hoping OP wouldn't call their bluff. They're obviously hoping OP would pay more in order the keep the sale rather than go through the whole rigmarole of setting up another buyer or worse, an agency

                      The vendor simply fires them

                      OP can't 'simply fire them'. The agency agreement will usually have a fixed term. These are set up so that it's not easy to break them easily.

                      Out of interest, how many properties have you bought/ sold in Australia?

                      • Bargainitis on 13/10/2021 - 09:38
                        -4

                        @Amaris: I noticed you and Bobbified care about votes so i've given you a positive so you can feel good about yourself :)

                        Let me answer your questions in a different order, if I may.

                        1) I wasn't saying it can't be 2 week cooling off period, I was simply admitting that I didn't read the OP's replies to pick that up. My original reply assumed that people enforce the 66W which waives the cooling off period. That obvious changes the dynamic a little bit but frankly it adds more risk to the agent as there is no commission if there is no sale.

                        2) You can absolutely fire an agent by providing notice. Fixed term would only be short anyway if its properly negotiated. The reality is "fixed term" is practically BS anyway. If I don't want to use you anymore because you tried to extort me, I will give you notice and move on. What do you think an agent will do? file a claim for what? for not being able to complete a sale?

                        The fact that you think a fixed term contract within an agency agreement is a binding clause demonstrates you don't really deal with real life situations. Here's a tip, always consider the real implications on a transaction. For example, having someone's deposit under a binding contract is real. Thats leverage. Having a contract saying you will use an agent for their services for a fixed term means F all in reality until money changes hand.

                        My point 2) goes to your question about practical fallacies with your earlier points. You keep going back to this agency agreement which has little weight unless a transaction actually completes. I have already played out some of those scenarios so i'm not going to repeat myself if you can't comprehend them.

                        3) Again, no one even bothered to work out what the difference between agreed commission vs. extorted commission was. Its $2K which really begs the question on 1) if the OP is trolling or not and 2) why an agent would risk it all for that measly amount given the market.

                        4) I have bought 3 and sold 2 (one of them for my parents). All in Sydney. I dealt with those selling agents in all cases and had a similar commission structure for my parent's property.

                        How many properties have you bought and sold?

                        • Amaris on 13/10/2021 - 10:24
                          +2

                          @Bargainitis:

                          I noticed you and Bobbified care about votes so i've given you a positive so you can feel good about yourself :)

                          You make too many assumptions

                          • Bargainitis on 13/10/2021 - 11:05

                            @Amaris: that was clearly tongue in cheek from my side but focusing on that line out of my total response says something about substance from your side, doesn't it? ;)

    • Bargainitis on 13/10/2021 - 12:54
      -6

      Also love the downvotes where no one has actually provided any substance to retort my observations.

      Its so much easier to click a button than to actually exercise critical thinking. Says a lot about this new age culture where people just hide behind a keyboard…

      • Settero on 13/10/2021 - 13:04
        +7

        You tell him not to come to this forum for advice then give out advice, and a really long post that makes it look like you did not read a large amount of the replies to op. You also advise him to negotiate with this alleged blackmailer. Your advice is also subpar , it's relatively easy to get out of a contract depending on terms , selling a home is not a painless process , so starting again is not exactly ideal.

        • Bargainitis on 13/10/2021 - 13:44
          -2

          Again, as I later clarified - the same applied to my reply which is why would people come here for this sort of situation. I wasn't trying to promote my reply as being better than others. Simply making a generalisation. I also welcome other posters to challenge my observations if it lacks merit but so far other than people saying that my post is "arrogant" has yet to construct anything meaningful to suggest my points are invalid.

          To answer your comments, I provided two options, one to challenge the agent's request and the other, another way to find a middle ground and move on. In my mind, they seem logical considerations.

          Getting out of a contract isn't as easy as you think. People who decide to exchange a contract have invested time and effort to transact (both buyer and seller of course). if you bothered to follow subsequent replies, you will notice that under different scenarios, the agent actually puts himself in greater risk of making no money at all. My advice simply reinforces that:

          1) calling the agent's bluff and sitting tight. If the buyer negs during cooling off period, the agent risks the commission. OP has to restart but if principle is important, OP would be willing to do it. If the buyer negs post deposit, OP has deposit to fall back on. OP may have to restart as well but at least up a part of their deposit. Both instances, agents has little to gain by undertaking this path.

          2) if the OP doesnt want to go through the confrontation and risk having to restart, he negotiates with the agent on a commercial middle ground. It'll unlikely be the 14% the agent is asking for but it'll be somewhere between 7 and 14%, again thats a maximum downside of $2K.

          Tell me how the above is subpar advice? what would you do? i'm really keen to hear it as you talk a big game. Btw, without going into details, my bread and butter is buying and selling assets (and also dealing with the legal side) so I literally live and breathe these sorts of scenarios. I hope when you reveal your plan, its based off some working experience not just heresay.

          What grinds my gear these days is people chiming on things they actually have minimal to nil understanding of. Its perfectly fine to say that one doesn't have the adequate knowledge to have a view on. I don't go around to an engineering forum trying to add my two cents on aerodynamics.

          The reality is if you have knowledge on this topic and opined on it, you wouldn't be 'offended" by my post. its often the ones that don't have much knowledge getting insecure thinking my post specifically targeted them…. Unsurprisingly, its somewhat played out. Prove me wrong.

  • Drifta on 12/10/2021 - 22:52
    +9

    Hey mate. If you're not a troll and this is a serious issue, please DM me. Happy to assist with tailored advise and even contact the RE on your behalf. We recently went through a bad RE when buying where the agent refused to assist in having the property handed over in the condition we saw it bar fair wear and tear. There was some serious damaged that we saw in pre sale inspection and the agent simply advised its fixed and sent photos. The photos left more questions than answers so we asked to inspect and agent refused. Long story short After the transaction was up left a bad review. Got multiple calls and crying on the phone from agent and agency head also called.

    Needless to say they will not be doing this again.

    In your case send them an email in writing that you dont agree to terms. Outline what has been discussed on the phone and that you are shocked with such behaviour etc etc and that you will only pay them agreed amount or are willing to go to another agency and report them to the peak body. If this agent has gotten more above asking I wouldn't deal with them even if i end up getting less with another agent.

    The reality is them wanting more on the extra amount 30k will make them lose the commission on the other 330k which they will not want to do.

    • Bob12345 on 13/10/2021 - 17:09

      Thanks for the offer mate. We are just waiting for the property contract to become unconditional, then we may try to talk to the manager.

      • gromit on 14/10/2021 - 13:09

        definitely make sure you do, you can't let that sort of behaviour slide as if they did it to you they are almost certainly doing the same to others.

  • gromit on 13/10/2021 - 11:37
    +1

    If real and not a miscommunication I would think this borders straight out blackmail and could therefore be reported to the police. Regardless in such a situation I would absolutely be going to their boss, regulatory bodies or anyone I think could come down on them like a ton of bricks. completely and utterly unacceptable behavior. I would personally be willing to even take a loss myself in such a situation to ensure that agent got nothing

  • zooter on 13/10/2021 - 12:45

    Call their bluff, leave a bad review directly and then wait for the magic to happen….Use this as a tactic to negotiate the commission down before you remove the review

    it's not as if the property won't sell again…plus the RE agent must have sold them the house saying this is a good price, so do you think they'll go and say you're getting ripped off now?

  • MisterX on 13/10/2021 - 13:51

    Blood boiling read. I'd play it out and call their bluff, and maybe negotiate the commission down as in previous comments.

    And I'd name and shame these people after this whole debacle!

  • Ash SA on 13/10/2021 - 14:02

    You can't do much in verbal accusations and phone recordings are pretty hard to stand in court of law unless you mention on call clearly that this is being recorded and can/will be used in court of law. Good lawyers can get it through though.

    You would need to document all the times in past in an email when your dad has a discussion with this agent and clearly mention what was discussed during that call. So the part where he threatened to cancel the contract would also be covered in documentary proof.

    Send this email to agency and ask his thoughts on this one and mention that "if the deal fails your attorney would be in contact with them on the basis on received threat on date dd/mm/yyyy @ hh:mm over the phone call".

    Unfortunately, this is all you could do and hope the agent bends down. Technically, nothing could stop them failing this deal if they want to BUT I know few agents inside-out and can tell they would love to die than letting a deal go out of their hands.

    good luck.

  • rompastompa on 13/10/2021 - 14:25
    +13

    You should check with your solicitor first, but emailing something like:

    Hi REA,

    I have spoken to my solicitor about the amendments you mentioned on the phone call, and they have said that there may have been some miscommunication. Can you please reply with the before and after amendments to the signed contract that you're requesting, so we can look over properly.

    We look forward to your reply.

    Kind regards,
    Bob12345

    Now you've eliminated any miscommunication and have their blackmail in writing.

  • Drakesy on 13/10/2021 - 14:27
    +3

    Bin Chickens of the Real Estate industry
    They list a house and then demand a portion of the value for taking some photos, opening a door for half an hour on a saturday and getting a pretty brochure printed.

    In this housing market houses are selling themselves, it's literally zero value adding.
    The REA didn't get you the price, the market got you that price.

    • BargainCowboy on 14/10/2021 - 09:34

      Exactly, if that was the price people were willing to pay, you would get that regardless of the agent. Wearing high-heels and a pretty dress won't get you more.

  • CalmLemons on 13/10/2021 - 14:40

    What? This can't be true.

    Tell the REA to fk off.

    By law it's percentage per sale price or anything else you agreed to.

    It is what it is.

    Must be a real shoddy agent.

  • 91rs on 13/10/2021 - 17:53

    How has no one suggested bikies.
    Especially in Ipswich, that will sort the REA out.

    • gromit on 13/10/2021 - 19:47
      +1

      In ipswitch the REA are bikies!

  • itstuan on 13/10/2021 - 18:51
    +2

    Keep everything in writing to use as proof
    Make a complain to her manager
    Give them a bad review
    Tell them to fk off and choose another agent
    The contract has been signed so they would be the most stupid REA to cancel it for some extra cash. I call it a bluff.

  • fredk1000 on 13/10/2021 - 20:17

    Gift them a gym set from China instead.

  • [Deactivated] on 13/10/2021 - 20:36
    +1

    Realestate agents are absolute scum

  • Punda on 13/10/2021 - 21:00

    Why is he scared to ask the manager? If be emailing the principal and outlining what’s gone on and hoping he/she wrote back. Then It looks suss’s if the deal happens to fall over.

  • bn030687 on 13/10/2021 - 21:07

    check the sales authority, thats what both parties agreed and signed for

  • FareEvader on 13/10/2021 - 21:34

    I'd call their bluff because the REA will lose out on their commission.
    If they do cancel it, you can go to another REA.

  • DiscoJango on 13/10/2021 - 21:35

    Just tell them you have the recording of the phone call of her threatening you, they will back down real quick

    Also a quick post of on their facebook page will get awesome instant results :)

  • Tigger76 on 13/10/2021 - 22:47

    Houses are selling themselves, if she signed a contract really wouldn't worry. If the sale gets cancelled find a new rental agency, so any earnings in the time that does take the cell which it won't take long, even on a private market where you pay no commission… So the extra 30,000 on top of 330,000, she is already receiving $24,500, and wanting 14% of the extra 30, is another $4200, totalling $28,700… No better than selling for 330,000 in a private sale. If you turn round and call her bluff and say fine I'll take it elsewhere, she will be out of pocket a potential $26,000 which is not can make a business happy, and you'll probably sell the next week, privately, the 340 to 350,000 now that you know that there is a market for it at 360,000. A simple ad in the paper stating finance fell through 360,000, willing to cut real estate agent out for $350,000, get a conveyancing lawyer around 5%, and you walk out of the still 15 grand better. Secondly if you did cut the contract, then cut rental with that firm, that's an extra 20 bucks a week to $50 a week they will no longer be receiving. In reality they properly have the house sold for 370 to 400, and are taking a double byte at you! In today's market, you basically you given the sold sticker before you put up the for sale sign! But if you look at how much you're paying, the extra 30,000 is lost in her fees. Just go private with a small conveyancing firm in the be more than happy to do it for less than her. And in the meantime the black mark against the name with her company by letting some other agent do the rental. Make sure you get it in writing everything that she says bet through email or letter, and take this the fair Trade Commission and you could probably even litigate and charge her force of income.

    The previous incident to the you and assist temporary sounds good

    • muzzamo on 14/10/2021 - 10:03
      -6

      Wall of text, didn't read.

    • Herbse on 14/10/2021 - 11:34
      +1

      Houses are selling themselves

      Maybe not where the OP is.

      There are some places in Australia where property isn't a cash cow for people and buyers can still dictate the price.

  • moneyhungry on 14/10/2021 - 07:18

    Did you pay for advertising/listing fees or was this included in the final sale percentage?

  • DarkOz on 14/10/2021 - 08:07

    REA like this should get fine, sacked and lose their licence. I call it bluff.

  • aliam on 14/10/2021 - 08:21

    Don't you have a signed contract with the agent on the sale conditions? That document should outline the costs, percentages, the exclusive right for that agent to list the property, as well as a period where you cannot relist the property for sale if things don't go through. All that is pretty standard from the times I've had to sell.

    Is there any possibility that your father's first language is not English, and there is a misunderstanding? This happened in my own family, where a relative of mine thought misunderstood the agent.

  • pippohippo on 14/10/2021 - 08:31

    is everything in writing/recorded? Even the threats? If the sale doesn't go through sue them and reclaim the damages/loss earnings. Shame them publicly to add the negative perception the world already has on their industry.

    underquoting is illegal, so if they sold, then say it's overpriced…may they underquoted and they can get another fine! (but goes both ways if you can't sell)

  • BargainCowboy on 14/10/2021 - 09:32

    What a scumbag.

  • lint on 14/10/2021 - 09:34

    Why not wait for them to cancel the contract and then take it to another agent? Or if contract allows you to cancel without repercussions, tell them you're cancelling yourself.

  • bargainfinder on 14/10/2021 - 11:21

    May i ask how many percent is the commission is the agent going to get?

  • Herbse on 14/10/2021 - 11:35

    I'm genuinely shocked to see there's houses available for $300k

    • BargainCowboy on 14/10/2021 - 13:17

      It's in Ipswich…

      • Herbse on 14/10/2021 - 15:19

        I don't know much about Qld but looking at the map that's considered metro and only an hour to the city..

        In NSW and Vic you'd be hard pressed to find land alone above 250msq that's under $400k in metro areas.

        • BargainCowboy on 14/10/2021 - 18:35
          +1

          An hour to the city is crazy distance in Brisbane… That's why QLD is not VIC or NSW

  • Adrian Player on 14/10/2021 - 12:33

    Yep go to department of fair trading a lodge a complaint.

  • TheKas on 14/10/2021 - 13:20

    Realestate agents are a bunch of crooks, always have been. From what I read it sounds like blackmail, double an already doubled commission. I think they're taking your old man for a ride. Hope you can step in and bat for your dad and sort it out!

  • drfuzzy on 14/10/2021 - 15:01
    +1

    I would email the agent and outline the conversation in a few sentences.

    "On XXX you called and requested the contract must be varied to increase commission to X, otherwise you advised you would say Y to the buyers interested.
    To be precise you said "….."
    Please confirm I have understood the demand correctly by reply to this email. Kind regards, "

    Do not make any threats or lodge any complaints until you have the agent clarify in writing.

    • moo on 15/10/2021 - 09:12

      Haha ironically, the agent is probably dumb enough to reply via email, incriminating themselves.

  • tisRmac on 14/10/2021 - 16:31
    +1

    Have no idea if possible but if you have the contract get the contact details of potential buyer and If the real estate threatens to quash it, then just reach out to the buyers directly and explain what real estate has threatened, then find an agent who can do the transaction for a lower fee and reduce buyers price paid by this amount. Buyers happy, you're happy, original real estate unhappy. Win win win in my book.

  • payless69 on 14/10/2021 - 17:40

    Unfortunately the larger the agency name the smaller the morals. State authorities only punish the small ones.
    Generally female agents have used rather questionable tactics like dinners and used to later pressure the elderly. Stay firm, a contract is a contract!
    Such gestures need to be reported to both state and federal agencies!

  • iand on 14/10/2021 - 18:46
    +2

    Remind the agent that if they cancel the contract they will get a commission of 0%

  • THICKnSLOW on 14/10/2021 - 18:49

    Is it a bitch agent from Ray White?

  • Poor Ass on 14/10/2021 - 22:07
    +2

    Sellers market

    Contract states terms of commission

    Agent can't enforce this extra commission as it is outside contract

    At the end if the sale doesn't work, all parties have wasted their time and agent doesn't get paid. So they won't sabotage the sale unless they are stupid. If they are stupid, go elsewhere after exclusive period if there is one.

  • TheLurker on 14/10/2021 - 23:55
    +1

    OP, as dozens have suggested, call their bluff and it will work out no worse in any scenario that follows. The stress for your dad and the family is not deserved. Frustratingly I've had agents lie directly to my face and in writing countless times. Unbelievable gall mostly because people are so scared of large numbers they think they can get away with anything.

    As I'm selling in Gold Coast soon, and moving up somewhere south of Brisbane, it would be great if you were able to name and shame once this reaches a conclusion? I will avoid them like the plague!

  • Gersman on 15/10/2021 - 09:13

    Why is the agent talking about all this when there are special conditions ie. pest, building, and finance clauses. If the agent says they’ll tell the buyers they’ve paid too much that is a nasty threat and despicable and unethical conduct to their first obligation the vendors. The sale is also subject to finance and the lender will send a valuer out to justify the price if it doesn’t stack up to market prices and recent settled sales over the last 3 months then the sale will fall over and the purchasers won’t have paid too much.
    I’d be saying to the agent that the sale hasn’t went through yet and if it does and the balance of deposit has been paid by the purchaser then you will look at their request then because anything else is hypothetical.
    But if you told the agent that you would double their commission if they exceeding the 300-330k price and they got you 360k then who is in the right ? They didn’t have it in writing so technically the agent has nothing to come back to you about, but they were told you would pay them double.Karma suggests this sale will not go through. 😱

  • sauce2k on 15/10/2021 - 11:48

    OP this is clearly blackmailing..You have the contract and everything. No REA going to turnaround and tell their buyers they are getting ripped off lol

    Should name and shame so others can avoid the agent. Report her !

  • k15866 on 15/10/2021 - 15:04

    if you have some form of contact for the other party eg. solicitor, could you sell it to the same person but cut out the REA? Give the buyer the REA's commission and you get to stick it to the REA.

  • gearboxtech on 16/10/2021 - 00:20

    The contract is the contract, period. Whatever that estate agent and yourself agreed to is set, whatever the contract of sale states, it set. And agent cannot cancel a contract, as the contract is exclusively between a vendor and a purchaser. That said, I don't know QLD laws well. Check the agent contract (sales authority in vic) thoroughly, you may have to pay the commission if it reaches unconditional and the contract falls through but hopefully a deposit would cover this. There are also other issues with exclusivity contracts and engaging other agents within a certain period but again, I don't know QLD laws well but those details should be outlines in the contract.

    Frankly, I'm not sure why you gave the estate agent the chance to sell the property to begin with though. I've a feeling that if you researched them, including recent documented sales, you'd see there are better options available given this tripe that is happening.

    As for that commission, IMHO, you overpaid them.

    I signed the contract of sale in vic as a vendor today. Property was on the market for 3 days and I had offers well above market and advertised price, contract signed within a week of advertising it. The sales authority was an exclusive 60 day contract with the agent, 1.9% INC GST commission (originally wanted 2.4%), $500 marketing (drone shots, top ad on RE and domain, facebook ads) with commission payable at settlement. As for the offer, I got the highest, no conditions, 3 week settlement

    The estate agent was a solo unit, many sales to her name, fantastic reputation and now I can see why.

  • AMLagonda on 16/10/2021 - 02:54

    Isnt this blackmail?

    Which is illegal….

  • bobolo on 16/10/2021 - 09:47
    +2

    I deal with real estate agents everyday. Even though agents can be dodgy, this is completely far fetched and I doubt you are telling the full story

    If it is true however, one quick call to any number of govt. and industry bodies, and this agent will lose his license, his job and most probably a hefty fine - even possible jailtime

    No agent will be stupid enough to pull this off unless he/she is looking to off themselves in the near future

    I suspect either you or them may have misinterpreted the condition where if they sell the property for above x amount, they get more comms. Maybe you didn't fully understand the contract before signing it? Either way just get your solicitor/lawyer to double check what was agreed to on paper and stick with that.

    • Bob12345 on 17/10/2021 - 20:17

      Unfortunately, there would be no value on me spinning a tale. I wanted advice on what to do based on my situation. The statements were only made over the phone not in writing, we can complain but I highly doubt there would be any ramifications as there is no evidence, it will just be hearsay.

  • Tidy on 17/10/2021 - 22:38
    +1

    If I was buying a house, signed the contract and the agent turned around and said it was a rip off, I would most likely still go through with it as I was interested in the home at the specified price already.

    I don't think you and your father have anything to worry about.

  • spackbace on 21/10/2021 - 11:43
    +1

    The contract with the buyer has a 2 weeks period for pest, building and finance. If the buyer in those two weeks decides not go ahead with the purchase we have no recourse.

    So now this period has passed, and the contract is unconditional… any updates?

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