Asked by Anonymous
Hi, we recently put a property on sale and engaged this agent with the agreed commission at 1%, with our asking price at $800,000. One day, the agent asked us if he manage to get an offer of $810,000, whether we are willing to pay him 2%.We agreed thinking it is no actual loss to us. Few days later, the offer came in at $810,000. But for some reason we manage to find out that the OTP was actually signed before he asked for that extra 1% commission (i.e. he knew that there was a higher offer but did not mention to us and instead asked for an additional 1% commission).
Is this common in the industry? The agent is clearly not acting in our best interest, not being honest, etc, and we are considering lodging a formal complaint, but would just like to find out more from the professionals here
Is this common in the industry? The agent is clearly not acting in our best interest, not being honest, etc, and we are considering lodging a formal complaint, but would just like to find out more from the professionals here
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