Medway Realty Reviews (%countItem)
Medway Realty Rating
Address: 4121 S Tamiami Trl, Venice, Florida, United States, 34293-5109
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Realtor refuses to renegotiate commissions after emphasizing to the customer that his commission is 3%, not 6%, and then changing position later.
When I hired my realtor Rob at Medway Realty in October 2019 I was told that the standard real estate commission to sell my condo is 6% but that Rob only receives 3%, not 6%. It subsequently happened that when my realtor Rob became both the seller's agent and the buyer's agent I was told Rob shall take 6% for himself and his company. I later tried to renegotiate the commission based on the fact that Rob repeatedly had told me last October that Rob's commission was 3%, not 6%, and also based on my past experience with the purchase of two houses where, both times, one realtor acted as both the seller's agent and the buyer's agent and received realtor commissions of 3% and 1.5% in those two instances. When I tried to renegotiate a commission of 3.5% with Rob in May 2020 I received an email from Rob's managing broker, Andrew C., which said, in part, "On the basis that Medway Realty has procured the buyer for your home, you will be required to pay Medway Realty a commission of 6% as per the listing agreement ... we will not be renegotiating our already agreed 6% commission with you under any circumstances." I indicated that was unfair based on what Rob had told me previously and, consequently, that I was considering granting the buyer's request to cancel the contract (for health, coronavirous, and other reasons) so that I can hire another realtor who is more customer friendly. Mr. C. responded "Should you wilfully cancel / derail the sale to prevent us gaining our earned compensation, I shall use copies of your previous communication as clear evidence of your intent to deprive my company of income and I shall sue you. I would suggest that you fulfil your obligations, just as we have and will, to prevent any litigation." Such threats are horrible, disrespectful, and no customer should ever be subjected to that kind of cruel treatment. In my experience, Medway Realty's unwillingness to renegotiate its commission under the circumstances goes against industry norms and is unfair when a customer is repeatedly told by his realtor at the outset that his commission is 3% and not 6%. In my view, considering the time and effort by the realtor, a commission of 3.5% is fair and adequate, anything greater than 3.5% is unfair. The realtor's refusal to renegotiate is unacceptable and a slap in the face to the customer. I shall never do business with anyone connected with this firm again.
I'd like the realtor to accept a reduced commission, considering that he is simultaneously acting as both the buyer's agent and the seller's agent and that the realtor repeatedly told me up front that his commission on this transaction would be 3%, not 6%. I believe 3.5% is a reasonable compromise under the circumstances. I'd also like an admission that his threats of a law suit were inappropriate and not to be taken seriously
Contact Name and Title: Andrew C.k
Contact Phone: ***
Contact Email: ***
The bottom line is that you signed a listing agreement with Medway Realty to remunerate us with a 6% commission for the sale of your property. This document states that should another broker bring the buyer, that Medway Realty would split that commission with them and pay them 3% of the 6% commission, meaning Medway Realty would receive the other 3%. Your home was under contract with another buyer from another broker and they pulled out of the sale, due to you having a probate issue on the home and we made the property active again on the MLS to attract another buyer.
Medway Realty agent, Robert J., then procured another buyer for you within 24 hours of the other sale falling apart, he then presented and delivered an offer for $3000 more in purchase price, for you to review, which you duly accepted and signed, creating a fully executed contract. At this time and upon you signing the contract, there was no discussion and no agreement made regarding any change to the compensation in the original listing agreement and if you have such a documented agreement, I would ask that you present it for my consideration. We both know there was no such agreement!
In relation to the active contract in place at the moment, Medway Realty procured the buyer and as such Medway Realty is entitled to the agreed commission compensation of 6% at closing. I have attached the listing agreement that you signed, which clearly outlines the agreed to the terms. I would suggest you read the terms that you initialled and signed agreeing to.
Respectfully, you have no idea about what the overheads of the Realtor and my company are, and frankly that is none of your business and is not relevant to this discussion or the legality of the agreed to terms of the listing agreement we entered into.
As of this moment, I will not entertain any further telephone communication with you and I have informed Robert J. that I am taking this over this file, so as of now I am your sole point of contact at Medway Realty. We shall communicate everything in writing so it is clearly documented and should you want an in person discussion this shall be via a zoom meeting, in which you shall be made fully aware it is under the condition that it shall be recorded. I shall not entertain any telephone calls with you and Robert J. shall not be communicating with you in any respect.
For final clarification - the compensation in the listing agreement shall not be renegotiated and we shall collect our commission in full at closing. I will also reiterate that should you wilfully cancel the sale, purely on the basis that you do not wish to remunerate us under the listing agreement you agreed to and signed, that I reserve the right to take legal action against you for the loss. I definitely shall explore this avenue as you are clearly just trying to get out of paying us for listing your property and procuring a buyer. I have copies of all communication to substantiate my claim should it be necessary.
Regarding you filing a complaint - I have already received the details of the complaint you have filed with the Revdex.com - of which I shall be responding to, sending them supporting evidence of your invalid complaint that we will not "RENEGOTIATE" our commission. I shall send them a copy of your listing agreement to demonstrate what you are doing. I will not permit you to bully us into dropping our already agreed commission after we procured a buyer.
Likewise, should you wish to file a complaint with the Florida Real Estate Commission as you have threatened, please feel free to do so as we have not violated any rules or laws, neither have we damaged any member of the public, this is just your retaliation to me standing up to you and refusing to allow you to bully my company into collecting it's duly earned compensation. I have attached a complaint form to make this easier for you! Should you make a complaint, we shall simply furnish them with a copy of our listing agreement - signed and initialled by yourself - showing the agreed compensation and will provide copies of all communication showing your unreasonable behaviour and attempts to renege on a legal agreement.
I have nothing further to discuss with you. We shall fulfil our obligations to you under the terms of the purchase contract you entered into and the listing agreement we entered into with you and then we shall collect our commission at closing. Nothing shall be renegotiated and I will not enter further discussions with you on this matter.
I have worked in Florida Real Estate for 10 years, of which 8 years as a Managing Broker. I have never received such complaints about myself or my business and frankly, I am disgusted at your behavior in wilfully attempting to deprive my company of it's due earnings after you signed a legally binding agreement.
This matter is not resolved and I only received the company's response today (5/22) as I was away on travel. I am not satisfied with the company's response and need to determine what further steps I can take to resolve the problem.
In all honesty - we do not understand the complaint. The customer signed a listing agreement with an agreed commission of 6% for the sale of his property. Medway Realty obtained a fully executed contract for the sale, the customer accepted the terms of the purchase contract and signed it. He is now, after the fact and after signing a listing agreement, clearly outlining the compensation and after then signing a purchase contract with a buyer, he is trying to renegotiate our compensation after we have fulfilled our obligations. This is not a valid complaint and as such there is nothing we can do to resolve this situation as the complaint is invalid and unwarranted.
I have reached out to the Realtor again and indicated what he needs to do to resolve this complaint. I told him that I am open to discuss the issue and work out a mutually agreeable resolution. The realtor seems unwilling to work with me or do anything to resolve this. This business is very inconsiderate of its customers concerns and does not treat its customers with the respect that they deserve.
I refer you to my original replies:
The customer signed a listing agreement with an agreed commission of 6% for the sale of his property. Medway Realty obtained a fully executed contract for the sale, the customer accepted the terms of the purchase contract and signed it. He is now, after the fact and after signing a listing agreement, clearly outlining the compensation and after then signing a purchase contract with a buyer, he is trying to renegotiate our compensation after we have fulfilled our obligations. This is not a valid complaint and as such there is nothing we can do to resolve this situation as the complaint is invalid and unwarranted.