Part of our job as Real Estate Brokers is standing up for our agents. Extortion seems to be the biggest culprit as evidenced by this conversation from today.
It started when one of my agent’s called me all upset. She then forwarded me this email from a friend of one of her Buyers.
There was something I wanted to discuss yesterday, but there were too many issues at that time to get resolved.It seems I have been doing a lot of follow up on this sale. For Example, I found this listing, I notified you of the water being disconnected that effects the inspection, and I verified the Clubhouse and Pool when you didn’t know there was one, also reviewed contract and verified the dates were not correct ( ie delay in when contract was received on 10/28 ) ect… .I believe without my assistance you would not be able to close this sale in a timely manner.
I have spoken with XXXXXXXXXXXX this morning and they wanted me to make sure and we are all in agreement regards to the purchase of the townhouse and feel I should get some sort of compensation from this sale, since this sale basically fell in your lap. We agree that a $1000 finder’s fee ( 1 % of the sale ) would be fair compensation for my time and effort.
Of course I had to jump in and take care of it.
I hope this email finds you doing well.
XXXXXXX had forwarded me your email about your request for a “finders fee”.
All commissions related to this transaction go through me as the Broker.
My company Tutas Towne Realty, Inc is receiving 2.5% ($2,500) for this transaction of which XXXXX receives a percentage.
I am prohibited by law from paying you a “finders fee”.
No real estate license. No commission.
The 2nd issue of course is that this entire transaction came through XXXXXX. I spoke to XXXXXXX and he did not request a referral fee.
We handled this transaction, at the last minute, based on this information.
My understanding was that you were helping your friend with this since you are in the area. All of your hard work is appreciated.
At this point we are abiding by the terms of the purchase contract and nothing more.
Tutas Towne Realty will not be paying any other parties a referral fee or a finder’s fee.
Please feel free to contact me with any questions.
Thanks for your follow up. Maybe as a Broker / Owner you would like and hopefully appreciate our experience thus far in attempting to purchase this piece of property.
First, the purchase contract was signed on October 22, 2009 signed by XXXXXXXXX on October 28 and returned to us for review on 11/04 and we still have not gotten an explanation from XXXXX why there was a 7 day delay in notifying us that we have a signed contract .Conversely , XXXXXX advised us to let the Seller respond by October 27 ( 5 days from when the purchase contract was signed ) so obviously when we heard nothing back from XXXXXXXX and was told ” to be patient ” we pressed XXXXXX for an answer.
Then we received the closing date of on or before 11/15 when she realized it was a Sunday and to contact the Seller to revise the purchase contract once again. While she was getting this sorted out, I drove by the property and noticed there was a Orange County Utilities notification that the water meter had been shut off, and there was a payment due of $ 453.94 to turn the water back on. XXXXXX was not aware of this, and this likely would up negated our inspection that is set up for Tuesday, Nov. 10. had I not informed her.
I am aware by Florida Law you are prohibited to pay a “finder’s / referral fee.” So the terminology I used was incorrect, however, a “commission rebate” is not prohibited by Florida Law. XXXXXXX did not locate this listing, I did. I
If your position is that you simply will not pay it, then after this transaction we will simply take our business elsewhere and find another Real Estate company that will assist with our cash purchases in the Dr. Phillips/ Windermere area ( with agents who have experience in this area ) in which, we intend to do more in the future. It is nice words to say “you appreciate all my hard work” but if you meant it i would be duly compensated.
XXXXX has been in communications with XXXXXX and all is well. If that’s not so and XXXXXX has concerns then please have him contact me direct.
While I am sure there are companies that do buyer rebates my company does not.
Given the opportunity to discuss this prior to XXXXXX using our services I would have been happy to let him know this so he could have chosen a company that does…if this was important to him.
You are certainly free to work with whomever you choose in the future.
I don’t participate in extortion.
I appreciate the update and take offense to you calling it “extortion” it only solidifies how unprofessional you are !
Please have XXXX contact XXXXXXX directly, I don’t need to waste anymore of my time helping her do her job.
So….what do you think? Was I too harsh?
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