Real Estate Agents get stiffed by the city of Cape Coral (sales, foreclosure)

[equalrightsforeveryone]

First they buy the land in a crooked deal with money that is supposed to be used on stormwater maintainance then they screw the folks that help them get the deal.
It doesn't get better then this. Go Cape Crappy Go the worst place in Florida.

"Lawsuit filed in city land buy"
Lawsuit filed in city land buy - cape-coral-daily-breeze.com | News, sports, community info. - Cape Coral Daily Breeze

[Straegen]

No contract and bought at auction by the city. The city didn't cheat anyone out of anything as there was no contract. If the group suing were the realtors selling the property, they would be entitled but a buyer paying realtor fees on auction property borders on ridiculous.

[1AngryTaxPayer]

Over a million dollars for "advice"? That's pretty expensive advice from a professional. I just want to know what kind of professional? Professional crook?

[Samiamnh]

There you go again,Equal....ranting without the facts.First of all,it is the seller who pays the commision not the buyer (city of Cape Coral)....also,those folks had no contract.

[equalrightsforeveryone]

Of course people get paid for their advice it happens all the time, that is what consultants do give advice and get paid for it handsomely in most cases, if you take the advice or not they get paid. Anybody that thinks that any real estate individual or company did this without expecting to get compensated is not firing on all cylinders.
Get real people the city screwed them, tis very simple to most people,- others ,- well not so much

[Timmy2527]

ER,

No Realtor that's survived the housing crash would EVER expect to be compensated for "advice" without a contract for such in place. Realtors are compensated through sales commission, paid for by the seller unless they have a signed "buyer's agent'" contract.

You are correct that if the Realtors in question expected to be compensated without putting a contract in place then they are definitely NOT firing on all cylinders and that type of sloppy business practice deserves a tough lesson.

More likely it's an unabashed attempt to feed at the public trough, and since that's MY money (and yours) I'm not amused.

[equalrightsforeveryone]

Originally Posted by Timmy2527

ER,

No Realtor that's survived the housing crash would EVER expect to be compensated for "advice" without a contract for such in place. Realtors are compensated through sales commission, paid for by the seller unless they have a signed "buyer's agent'" contract.

You are correct that if the Realtors in question expected to be compensated without putting a contract in place then they are definitely NOT firing on all cylinders and that type of sloppy business practice deserves a tough lesson.

More likely it's an unabashed attempt to feed at the public trough, and since that's MY money (and yours) I'm not amused.

There is a big difference between a buyers/sellers agent and a consultant.
I have done consulting in my field and it paid better than and job I have ever done.
You folks are comparing apples and oranges, consulting fee's are not "sales commisions" you don't have to sell anything to get a consulting fee, other then your advice. Hell Lawyers are the ultimate consultants they give advice and charge you a whole bunch of money.
The city tried to screw these people and they got caught. As ever one on this forum knows I am no fan of real estate agents but even less a fan of crooked government. All the dirty little secrests about this "real estate deal will come out now, OR

What do you want to bet that the city 'without admitting any wrong doing will settle this case out of court' and none of the parties involved are going to be able to talk about it.
Any takers???????

[Timmy2527]

ER,

It's the contract stupid!! No contract, no pay.

[BugManTPC]

Property was in Foreclosure, they didn't have the listing or a Buyers Agreement. No contract, No Compensation. Florida Real Estate Law is pretty clear. At the very least this Agent should "Feel" Good. She learned an important FSBO lesson. Never put a Buyer and a Seller together.

If there is to be any compensation settlement it will be from FNB. Seller pays, not the Buyer.

[rikoshaprl]

Often realtors do work for free to try to get a listing and commission. Have you ever heard of a realtor providing a comparative market analysis for a prospective client? Realtors often suggest properties to buyers, but they should not if they don't have the listing! The realtor should have just shut up and left it as good will for the city. They may have been thrown a bone sometime later for their help.