My house went on the market in May, and within the first two days, I received a contingent offer from a friend of my realtor. It’s important to note that this was the only showing I had in those initial days. The offer was contingent on the buyer selling his house. My realtor never suggested a first right of refusal or any other option to keep my house open to other offers. He specifically stated that the buyer’s house ‘should sell quickly.’ As the closing date approached, the buyer’s house still wasn’t under contract, so we decided to extend the closing date by a few weeks and added a first right of refusal while marketing the house again. Around this time, late July, I discovered on my own that my realtor was also the selling agent for my buyer’s house. Ultimately, the buyer’s house never sold, and the contract expired in late July. I switched realtors in October. Now it’s December, and my house still hasn’t sold. I’m very frustrated that my original realtor encouraged me to accept a contingent offer so quickly after listing the house and didn’t suggest protective measures like a first right of refusal. I suspect that his friendship with the buyer influenced his advice. Additionally, I feel it was unethical that he was the selling agent for the buyer’s house without disclosing this to me. I believe I lost valuable time to sell my house and wouldn’t be in this situation if we had kept it on the market during the contingency period. I’m looking for thoughts on this situation and any potential recourse I might have against the agent. Thank you.
It sounds like you have valid concerns regarding your realtor’s actions. If he had a conflict of interest and didn’t disclose it, that could be problematic. You might want to consult a real estate attorney to discuss your options.
It’s crucial for agents to disclose any relationships that could affect a transaction. You may have grounds to file a complaint against him with your local real estate board.
I can understand your anger. It’s frustrating to feel like your agent didn’t have your best interests at heart. You should definitely explore your options for recourse.