ETHICS PUT TO THE TEST

One thing I have learned from selling so many homes is that you are constantly presented with situations that test your ethics and standards. I recently had a short sale that I was selling and also representing the buyer as well. The seller was receiving no monetary gain from the sale of his home (as is the case with all short selling sellers) and because of this was not all that motivated to sell versus letting the home go to foreclosure. The asset manager recommended that I pay this client money out of escrow as a "gift" if it would get him to move forward with the sale. (Keep that I had a large commission on the line). I checked into it and as I suspected, I would need to disclose this amount to all parties and the bank would need to agree in writing to allow this to happen. I asked the asset manager if she could put this in writing and she told me no and that it would need to be done on the side. I did some research on what this all meant and found out that although it happens VERY OFTEN, it is wrong. The bank requires both the agent and the seller to sign an acknowledgement stating that no money was paid to the seller from the agent's commissions. Wow - I was confused. Why was the asset manager telling me to do one thing and sign a document stating that I was doing something else? This is what they call the "gray" area in real estate. For me, it served as a defining moment in my career. I am happy to say that I walked away from a potential 20,000.00 plus in commissions and did the right thing. I chose to post this as a chance for anyone who reads this to learn about how I conduct business. Character is a key factor in selecting an agent and something your should think about when making your decision.