Hopefully last FSBO question
I have an interested party to buy my home. We found them directly, they want to purchase the home. Elderly buyers, excited, , went to the closest realtor, and broker to give us a contract (they were afraid to leave town without us knowing they were serious:( In fact, when they entered the office and said they wanted a contract drawn on a house they love, he (not unusual) asked them if he could take them out to show them some houses. They said no, they just don't know how to write a contract.
Next day, realtor/broker called us, etc we said we are not interested in dealing with a realtor at this point, especially since we found our own buyer. We emailed him and declined, and once again stated we are not working with a realtor at this point. I also didn't share we are already dealing with these clients (none of his business). In his reply, he was persistent, lied-that they wanted his services. His contract that was drawn gave same said realtor/broker a 3% commission of the Sales Price. (from ME-seller) They were very excited about the house, and received no paperwork (copies) from the realtor.
So, I suggested to them, that since we are doing a private sale anyway, and we would be getting an attorney, that before they enter a contract with me, they need to ensure they will not be liable for anything from him. I have zero trust in this broker/realtor. I suggested to retain a lawyer to get copies of paperwork and ensure they didn't mistakenly or unknowingly sign any contractual obligation they could be responsible for, and don't realize-after the fact. They are a very nice couple and I don't want them in for a surprise later. I equate these type of people to m y parents and would be PO if someone pulled this whole mess on them. I can't tell you how furious I am for them in this whole matter.
So anyway, same said realtor/broker agreed to sign a "waiver releasing himself from their purchase "but thought he deserved some sort of 'compensation due to the time, advice and writing the contract.'. I didn't ask them yet what he thought he deserved--for never meeting them, not showing them one house period ever. But since he originally signed himself at 3% of sales price to start with, he's a shark. As far as I am concerned he took full advantage of them as a broker/realtor as well as taking advantage because of their age. They are very grateful to us for making sure (they never even dreamed of the ramifications), and I don't mind at all for them. I mind because I can't believe people in the industry can get away with this.
I am disgusted and seriously question all of this. Is this reportable ethically to the NAR? And, if the answer is that I am wrong what would the compensation be that he would be entitled to (from them, ? Would he have been able to bother them for any compensation after the fact had I not suggested this route? I know that there could be transaction fees...but my question is in a case like this what could be 'fair compensation'?
TIA
PS..I should add- they contacted him about the contract, (after I told then about his email and what he said), and they asked if they owed him anything at all, or anything for his time. His reply was no.-----I still didn't trust him scenario-- which is why I suggested them using the lawyer first to 'make sure'. I was not confident that they signed something and didn't understand it, nor received a copy of it. Now suddenly, he feels 'owed' by them.