Lynn B. Friedman - Atlanta Real Estate ODAT - CDPE : May 2011

Metro Atlanta Buy Lease Sell Sadly Accepts Agreement Termination in Buckhead Atlanta GA


Dear AR friends -

I almost feel as if this is a grieving situation.  I didn't want my suspicions to come true.  I had trusted this young couple and really enjoyed their company and working with them. Then it happened - the Buyer's Agreement I had with them was cancelled abruptly by e-mail! 

We had worked online daily for a week - intensely sorting through properties and refining the search.  Many hours spent in office work and one day out previewing homes before going with them.  Yesterday they drove around several neighborhoods to see if the selections I had made matched the "feel" of what they wanted for their home.

Today we spent from 9:00 am until 1:00 pm together, seeing and studying three homes.  The third home met all of their requests - it was actually amazing to find it all in one house.  More amazing that it was at their price point which was $100,000 below the norm in the neighborhood!  It was a foreclosure ...   We called and set up an inspection appointment for Friday. 

Then she asked if they could call their friends over to see the house.  I cheerfully said sure. And it was all downhill from there.

Once he arrived with his wife, the friend started telling them "xxxx" and "yyyy". Then he began grilling me about what documents I had shown them. What had they previewed? Why did I want an Earnest Money Check with the contract? They should only give the Earnest Money after the contract was accepted.  Had I done this and that because they were first time buyers and ... BOOM!  I saw the whole success disappearing before my eyes.  Here was his former college roommate coming in and shattering what had been an atmosphere of trust and respect on both sides. 

My blog tonight is mostly the letter I wrote to them after receiving their termination notice. (Names changed of course!) With every success and with every disappointment, lessons are there to be gleaned.  As I track what happened, I am not angry just sad.  I actually regret it for both our sakes. What a wonderful time we had had together during our research and our house hunting!  And we actually found the house they had described ! A house that had all the features they had wanted and even two more!

My lessons learned here? More reflection needed ... 
NEXT DAY'S UPDATE:  http://activerain.com/blogsview/2326949/metro-atlanta-buy-lease-sell-sadly-accepts-agreement-termination-in-buckhead-atlanta-ga-day-2

Have a happy day -
Lynn

Here's the letter I emailed back to them.

Dear Adam and Jill,
As of 10:30 pm, May 30, 2011, I accept the termination of your GAR Exclusive Buyer Brokerage Agreement with me.  I have already called to cancel the inspection appointment for the house you selected today - the house at 1466 Pinehurst, 30338. 

It was a pleasure to meet you both. You are dynamic together and I am confident you will do well.  I wish you the best on your future search.  I'm sure you will find the exact house to meet your needs and time schedule.
Sincerely,
Lynn

PS  I left your Listingbook account open for you to use at your convenience.  If you get another agent, ask the person to switch you over to his/her Client base.  In addition. you have many of the GAR contract forms which I had sent to you by e-mail to review.  You have the blog links that you may read for more information.  I hope all of that information will be of value to you as you pursue and gain your new home.

Adam and Jill, as I carefully explained to you before you signed the Buyer's Agreement, if I showed any home to you, I would be in line for the commission even if you chose to terminate the agreement and work with another agent later on at the same home.  I also suggested to you at that first meeting that if you should choose to terminate with me or anyone else you worked with in the future that you should tell the new agent which properties you had previously seen with another agent. 
In addition, the subject of commissions came up today when your friend mentioned it in the garden, saying you "couldn't" buy a house that I had shown you if you worked with a different agent. I clarified the situation again by stating that you always could work with another agent and buy the same house I had first shown to you.  However, in that case, ODAT Realty Services, Inc. still would be entitled to the commission since I had previously shown the home to you.  Therefore, based on the signed agreement, the commission obligation to ODAT Realty survives the Buyer Agreement Termination on the three properties we looked at together:
1.   5337 Southchace, 30338
2.  1811 Fairfield, 30338
3.  1466 Pinehurst, 30338

Again, best wishes for success.  Hopefully our paths cross again sometime in the future!  

Lynn