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Updated over 5 years ago on . Most recent reply

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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Buyer is Undisclosed Agent

Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorPosted

I am the listing agent in this deal.  Property is under contract, buyers agent today sens me an insane inspection addendum asking or 40 items and additional credit.  The total of which is about 20% of the total value of the property.  I casually ask the buyers agent, is the buyer by any chance a licensed real estate agent....they answer that they in fact are, and are in the same brokerage. I say well you never disclosed that, thats a pretty serious license law violation.  What would my fellow agents here do?

@Mike Cumbie @James Wise @Mindy Jensen @Jay Hinrichs @Brie Schmidt @Charlie Mcpherson

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District Invest Group
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James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
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James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied
Originally posted by @Russell Brazil:

I am the listing agent in this deal.  Property is under contract, buyers agent today sens me an insane inspection addendum asking or 40 items and additional credit.  The total of which is about 20% of the total value of the property.  I casually ask the buyers agent, is the buyer by any chance a licensed real estate agent....they answer that they in fact are, and are in the same brokerage. I say well you never disclosed that, thats a pretty serious license law violation.  What would my fellow agents here do?

@Mike Cumbie @James Wise @Mindy Jensen @Jay Hinrichs @Brie Schmidt @Charlie Mcpherson

 I would simply make my counter as normal. I don't see any actual damages caused to your client based upon the missed disclosure so I would not attempt to use this as leverage. In my experience you can't really make someone buy a property for a price that they don't want to pay. Trying to utilize some additional leverage to get them to do so probably wouldn't lead anywhere. 

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