This is a true story but no names will be used to protect the identity of the agents involved. We will call one agent “seasoned agent” and the second agent “newer agent”.
We had a situation between a couple agents in our local MLS where both agents use to work for the same broker and were partners. One partner was new in the business but on fire and doing great! The other was a seasoned vet and doing well but always looking to do better. They teamed up and started working short sales. They were doing quite well but after a few years the “newer” agent had gotten their brokers license.
That agent had an offer to come be a managing broker at another office in the area so they left the partnership and went to the new company as a broker. They made an arrangement in writing to split all the commission they had worked on together 50/50. After a few months their inventory was getting lower on all the things they had worked on together.
The seasoned agent had complained to the newer agent that they didn’t feel it to be fair to have to work so hard on short sales and then split the commission. The newer agent not having anything pending at the time said ok and the verbally released their agreement. The seasoned agent closed two properties that would have been under the original agreement and took the whole commission.
A month or so later the newer agent closed on a property that would have been under the agreement and collected the full commission. The seasoned agent called the newer agent and said that they owed them a commission on that property because they were saying that it wasn’t released from the agreement.
Obviously the newer agent declined as they fully released their agreement. The seasoned agent now is trying to go after the newer agent and taking them to the MLS board, and slandering them to other agents.
This goes to show that you always have to get everything in writing! Doesn’t matter how close of a friend you think a person is you still need it in writing because you might end up having to defend it.
Hope this never happens to me, or you but if it does have it in writing so you can defend yourself.
Jimmy Gilley
Cressy & Everett Real Estate
Niles, MI 49120
Mobile – 269-362-4841 (Primary)
JimmyGilley.com
jimmy.gilley@comcast.net
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