Warning! The way the Florida Exclusive Listing Agreement is written in a way that can hurt sellers and are open to fraud! I own 2 deeds 10 unit apartment building which was listed we listed with Edward Schaerer the broker. Without any advertising or listing in the MLS during the 6 month agreement, which is required as a member of the Realtor Association as he is. NOT ONE CENT SPENT! The broker brings a friend almost 4 months later who is also a Realstate broker and mortgage broker as a potential buyer who never disclosed that he is a realstate broker on any of the 3 contracts presented to the sellers.
In the Judges eyes, it didn't matter that all 3 contracts presented to the sellers stated 10 deeds and 10 condominiums when they only have 2 deeds 2 buildings to sell. It didn't matter that the sellers refused to assign the contract. (Then why would there be 2 choices on the contract, may assign and may not assign. If it shouldn't be a concern to the sellers if the buyer wants is assignable, then why would there be choices on the contract?) The sellers stated that if he wants 10 deeds, 10 condos, pay for the closing cost and you can get it any way you want it. Even though our attorney stated in an affidavit that it would cost over $10,000.00 and about 6 months to provide title and to apply for condo documents.
Nothing mattered.in line 3 of the listing agreement states that if the broker brings in a ready, willing and able buyer that the sellers are required to pay the 6% commission even if the contract was not agreed, no advertisement or mls, worked against the sellers etc. We were given a letter from his bank that says Offering letter on it. Their attorney kept on calling it a loan commitment which it wasn't. There were 10 loan requirements for approval and one of them is to verify income. This is not a loan commitment! If I offer to buyer your car, would be able to give me 2 titles? The buyer could have written in the contracts that he wanted a new roof. It didn't matter that the buyer offered full price, SIGHT UNSEEN with an as is rider giving the buyer 7 day right to cancel. Nothing mattered to the Judge because of the way the exclusive listing agreement is written. Florida Real Estate Commission needs to change the agreement.
We still own the buildings and so far it cost us over $80,000.00 for the judgment and attorney fees and no one is willing to help us with this scam. We even argued that anyone can sign a contract, get an offering letter from a bank and say you are a ready, willing and buyer without agreeing with the terms on the contract and be ready to pay the commission! We even spoke about a 4th contract with the corrections and we even had it written and the instead the buyer writes a letter saying he is not interested in peruing this property anymore. HE EVEN WROTE A LETTERING BACKING OUT OF THE DEAL, yet to the Judge it didn't matter! This was a scam among 2 Real Estate Professional who knew exactly what to do to collect the commission without consummating a sale. What listing broker woudn't believe what a seller owns? He knew that we would never sign agreeing to 10 deed and 10 condos when we did not own it.
We were told by our attorney to pay, it would be cheaper. This is the way our legal system is so screwed up. If victims were to pay for fraud it would never stop! Maybe a rape victim should volunarily go to jail because it wouldn't be as stressful as trying to prove the crime? You would think that the legal system is moving up to be a better, but it goal is to defend the wrong people.
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