Replies to This Discussion

Permalink Reply by Bryant Tutas on March 10, 2011 at 2:43am

Laura. All listings belong to the broker. So unless the listing agent is the broker there will be someone over him. That's who needs to be contacted.

Permalink Reply by Bob Bridge on March 10, 2011 at 2:44am

Was the listing agent negotiating or was it a law firm? If it was the listing agent was the Auth with him or her or with the brokerage?

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on March 10, 2011 at 3:59am

Laura -

 

As Bryant said, all listings belong to the Broker unless the agent "is the broker".  So look up who the Broker of Record / Broker in Charge is and contact that person.  Also as Bob said, if the agent was authorized but no one else - the Broker will need to get an authorization signed by the seller ASAP and send to Chase.  They need to be sure to write the loan # on the top of the page.

 

Best of luck & let us know how this turns out !

 

Thom Colby

Broker

Newport Beach CA

Permalink Reply by Michael Hayley on March 10, 2011 at 4:21am

I'm guessing you work with the listing agent's broker and keep it simple? Does Chase have to know about the issue?

Permalink Reply by Debra Enos on March 10, 2011 at 4:42am

Call his Broker.........Now!  He/She will take care of it.  And follow Thom's advice regarding the authorization from the seller. When Agents have emergencies, accidents, illness, die........jail....the Broker steps in.

Permalink Reply by Laura Rencher on March 10, 2011 at 5:09am

Good news is that I am authorized and so is the buyers agent. Listing agent was so bad we convinced the seller to let us take over a few weeks ago. Bad news is the agent is also the broker.

No Chase does not know....We are hoping we won't have to tell them. I am trying to find out who is taking over...

Permalink Reply by Michael Hayley on March 10, 2011 at 5:15am

You may get pleasure telling Listing Agent to watch reruns of HBO's OZ.

Permalink Reply by Jim Schneider on March 10, 2011 at 5:41am

You may have more problems than that, if the listing agent was the broker or record, and he's convicted of a fellony (especially financially related) s/he would lose their license in my state, probably yours too. If your laws are anything like Illinois, all listings would be terminated.

Permalink Reply by Steele V. Propp on March 10, 2011 at 6:20am

Actually all listings belong to the brokerage/firm itself.  But that works out to pretty much the same thing.  An individual agent is not ultimately responsible for the listing, the firm is.  And the firm is usually embodied by the primary broker.  That is who you should be talking to.  Sometimes there will be a manager.  Either way you need to be talking to this firm.  Even if this guy is the principal broker most states allow another person to be appointed in his place in case of death, severe illness, or jail.

 

Listing agent has not changed.  Unless this guy got the firm fired :>(

 

Steele

Permalink Reply by Laura Rencher on March 10, 2011 at 11:05am

I think the agent is the principle broker. So the question is can someone who is not part of his brokerage take over his listings...because I am pretty sure he is the only broker and he may be the only employee as well. 

 

The listing is not terminated yet because the broker has not lost his license yet. I am actually in direct contact with the seller and have a positive relationship since I took over negotiations....he was thrilled when I got the last foreclosure postponed and got the offer moving...which his agent had failed to do.  This morning he told me another broker would be taking over this broker's business....I am trying to find out if the person is a part of the original brokerage firm or not.  It seems like this piece is critical since the brokerage owns the listing......

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on March 10, 2011 at 11:21am

Not sure what State you are in but If the brokerage is a Corporation and they appoint a new "Broker", Principle Broker, Broker in Charge, etc. then they continue to own the listing.  If the Broker loses his license within your state agency before a new Broker is in place, then the Listing likely is terminated - similar to when a Broker dies - all listings are cancelled - again, except when the Brokerage is a corporation and appoints a new Broker.

I think the agent is the principle broker. So the question is can someone who is not part of his brokerage take over his listings...because I am pretty sure he is the only broker and he may be the only employee as well. 

 

The listing is not terminated yet because the broker has not lost his license yet. I am actually in direct contact with the seller and have a positive relationship since I took over negotiations....he was thrilled when I got the last foreclosure postponed and got the offer moving...which his agent had failed to do.  This morning he told me another broker would be taking over this broker's business....I am trying to find out if the person is a part of the original brokerage firm or not.  It seems like this piece is critical since the brokerage owns the listing......

Permalink Reply by Laura Rencher on March 11, 2011 at 3:56pm

I found out the listing agent/broker does have someone taking over for him at his brokerage..so we think the listing will be okay. Today, he threatened to not alter the HUD as requested by CHase to a closing in 60 days...because this "didn't work for" him (because he would be in jail by then). He claimed he had a cash buyer that was willing to pay more and was going to sign a contract today. He wanted to submit that offer because he thinks it will close sooner..... Mind you we are at the investor phase of the short sale..the final quarter and the guy wants to start over because the deal won't close before he goes to jail.  The buyer's agent reminded him that she and I had caught and averted two foreclosures on the property and gotten most of the short sale work done because he wasn't doing it. Not to mention, this buyer had invested over $1000 with inspections, turning on utilities, and mold testing. She also reminded him that the process would have to start over and take at least additional 60 days. He scoffed at her. So I called the seller and explained what was going on. He stated he wouldn't be signing an additional contract and called the listing agent and asked him to revise the HUD...which he did. And we faxed it in this evening.

All I can say is I hope the scumbag has a nice time wearing his orange suit and that he finds a nice boyfriend in jail!

• ‹ Previous
• 1
• 2
• Next ›
• Page