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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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You Can Hold Your Clients Hostage Until They Pay - IanWatt Was Wrong

Vancouver Condo Real Estate Video Blog #291 - April 11, 2009

You Can Hold Your Clients Hostage Until They Pay - IanWatt Was Wrong

Ian Watt video blogged on March 6 2009 a clip called "Pay Me or You Wont Get Your Release" about his new client not being able to get released from a prior listing unless she paid the former realtor her MLS fees. However, learning from conversation with the real estate board that is perfectly ethical. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

Ian Watt : Hi good afternoon! It's Ian Watt in Downtown Vancouver. About two weeks ago, I done a video blog regarding a listing agent who wouldn't release their seller from the contract eventhough they both agreed not to work with each other, until my new client, paid the old listing agent some money to get out of the contract. And I have done a video blog saying that it was ransom. That they were just, it was kind of a blackmail situation. Well you know what? I was wrong. I got a phone call from Kim Spencer from the Ethics Committee or the Ethics guy at the Real Estate Board of Greater Vancouver and he explained, "no that's perfectly honest you can do that anytime. If you want to hold your client to the contract eventhough neither the parties wanna work with each other. You can make them pay for all your incidentals because there was a contract in place I stand corrected I apologized. For me, I was right in my schedule should the people choose not to sell their property with me, they could get other contract anytime. I don't want to have that ill feeling between a potential client or a past cliend and myself or my company. Not at all I just want to move on and go on with the next one. But apparently, you can do that and it's not a problem with the Real Estate Board. My name is Ian Watt. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!