Real Estate Agents - Conflict of Interest

Author

Conflict of Interest

ddt_toronto

2005-08-10, 3:21 pm

Hi all,
I'm a part time painting contractor (and a full time IT developer) and
I plan to start offering flooring services in the near future and in 2
months to start working on my real-estate agent licence. One fresh real
estate agent told me that my painting/flooring business can present a
conflict of interest with my real-estate business. I don't see why it
would be a conflict of interest. I plan to offer huge discounts for
painting/flooring if people sign with me to sell or buy their
properties, she thinks that such an offer might be considered as unfair
advantage over other agents. Are there any other businesses that
real-estate agent shouldn't be in because of conflict of interest
besides being a home appraiser ;) at the same time. My wife is in
financial services and she might become a mortgage broker, does that
qualifies as a conflict of interest (I don't think so)?

Thanks in advance

Steve Foley

2005-08-10, 4:21 pm

It's possible you could use your influence as a real estate agent to
pressure someone into using your services for painting.

"Mrs Jones, I have a six month exclusive right to sell your property, but
now that I look more closely, your entire house really needs re-painting.
Unless you hire me to paint it, I don't think many anybody will buy your
house."

Lets say that this conversation never takes place, but you do offer your
services as a painter. What happens when the seller declines, and the house
doesn't sell? Your local board of Realtors will get a call about you.

"ddt_toronto" <ddt_toronto@yahoo.com> wrote in message
news:1123697377.483923.44670@g47g2000cwa.googlegroups.com...
> Hi all,
> I'm a part time painting contractor (and a full time IT developer) and
> I plan to start offering flooring services in the near future and in 2
> months to start working on my real-estate agent licence. One fresh real
> estate agent told me that my painting/flooring business can present a
> conflict of interest with my real-estate business. I don't see why it
> would be a conflict of interest. I plan to offer huge discounts for
> painting/flooring if people sign with me to sell or buy their
> properties, she thinks that such an offer might be considered as unfair
> advantage over other agents. Are there any other businesses that
> real-estate agent shouldn't be in because of conflict of interest
> besides being a home appraiser ;) at the same time. My wife is in
> financial services and she might become a mortgage broker, does that
> qualifies as a conflict of interest (I don't think so)?
>
> Thanks in advance
>

Steve Foley

2005-08-10, 4:21 pm

On the other side of the coin, you could tell your painting customer that
their house really needs lots of work, and they should sell it through you.
Oh yeah, if you list it with someone else, I will make sure they find out
about all the work it needs.
[color=darkred]

ddt_toronto

2005-08-10, 5:21 pm

Well, if I say something like that, I'm sure it's conflict of interest.
I was thinking more of advertising myself with "I'll paint your condo
for free if you sign with me" ;) or "I'll invest $1000 in your condo
renovations (painting, staging) if you sign with me" ;) ... that 1000$
in painting work will cost me about $300-$400 in labour and paint ... I
mean, there will be a fine print that will say that they need to pay
for that renovation and after the sale, I'll deduct that amount from my
fee ... I'd say that this kind of advertising isn't conflict of
interest ...

Steve Foley

2005-08-10, 5:21 pm

I'm just saying that it could be perceived as a conflict of interest. You
would be amazed hearing some of the slanderous statements I've heard.

You've already heard one agent say it was a conflict of interest. Do you
think he or she will repeat that statement to a potential client when you're
both going after the same listing?

I have no reason to believe you would do any of the things I mentioned. You
asked for opinions, and I gave you one.

"ddt_toronto" <ddt_toronto@yahoo.com> wrote in message
news:1123702966.829605.232490@f14g2000cwb.googlegroups.com...
> Well, if I say something like that, I'm sure it's conflict of interest.
> I was thinking more of advertising myself with "I'll paint your condo
> for free if you sign with me" ;) or "I'll invest $1000 in your condo
> renovations (painting, staging) if you sign with me" ;) ... that 1000$
> in painting work will cost me about $300-$400 in labour and paint ... I
> mean, there will be a fine print that will say that they need to pay
> for that renovation and after the sale, I'll deduct that amount from my
> fee ... I'd say that this kind of advertising isn't conflict of
> interest ...
>

Steve Horrillo

2005-08-11, 12:21 am

On 10-Aug-2005, "ddt_toronto" <ddt_toronto@yahoo.com> wrote:

> Well, if I say something like that, I'm sure it's conflict of interest.
> I was thinking more of advertising myself with "I'll paint your condo
> for free if you sign with me" ;) or "I'll invest $1000 in your condo
> renovations (painting, staging) if you sign with me" ;) ... that 1000$
> in painting work will cost me about $300-$400 in labour and paint ... I
> mean, there will be a fine print that will say that they need to pay
> for that renovation and after the sale, I'll deduct that amount from my
> fee ... I'd say that this kind of advertising isn't conflict of
> interest ...

There's a brokerage here in Fort Lauderdale that will paint your home and
pressure clean your roof if you list with them.

--
Warmest regards,

Steve Horrillo, Realtor / C.Ht. =^..^=
http://BrokerAgentTraining.com http://over100percent.com http://HipFSBO.com
http://eLOWn.com

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