COMPLAINTS - When a client has a complaint, you must call /forward the BROKER asap to discuss. From there , we can discuss what needs to happen. 

SCENARIO

Complaint emailed from our listing agent's seller. It was sent to the Designated Broker, the two agents invoved and to a reca email that is not the correct place for a complaint. 

Seller

Dear Mr XXXX,

I am not pleased with the 'Buyer-Agent' - Mr. XXXXXX with XXXX Realty after accommodating them with more than one extension as per their request (2nd February to the 18th February, 025).

Their Agent provided a pre-approval letter to confirm the financing with CIBC. They also told my 'Listing-Agent' - XXXXXX that they received an eMail from CIBC Broker Mr. XXXXX that the deal is approved.

Now the 'Buyer-Agent'- notified my 'Listing-Agent' - that they are waiting for a letter from CIBC. Which they did not receive on the 18th Feb, 025.

The buyer-Agent also indicated that he spoke to his broker and that they agreed the eMail is not sufficient to close the deal. 

My 'Listing-Agent' provided one more day to get this letter from CIBC, but the 'Buying-Agent' declined.

'Buyer-Agent' - Mr.XXXXX did not act in good faith(Contract 3.1)

My property was on hold during this period. Thus the reason for my complaint.And the deposit should be forfeited.

Regards,

SellerXXXXX

Response from the Buyer's Broker:

Hello XXXXXX.,

We have carefully reviewed your complaint regarding the recent transaction and have found no issues with how our agent, XXXXXX, conducted the process. 

Aman represented the buyer and acted in their best interest, as required by their fiduciary duty.

In this case, the buyer was unable to secure financing under terms satisfactory to them. As per Clause 8.2(b) of the contract, the non-waiver of the financing condition was submitted to your agent prior to the condition expiry date. Since the condition was not waived, the transaction has collapsed, and the deposit must be refunded in full without delay.

The conditional period was mutually agreed upon by both buyer and seller to allow the buyer time to complete their due diligence and determine whether they would proceed with the purchase. Given that financing could not be obtained under acceptable terms, the buyer exercised their right to withdraw from the transaction within the agreed timeframe.

To prevent misunderstandings in the future, we encourage you to discuss the contingencies of the contract with the agent representing you in this listing. Understanding how these conditions function will help manage expectations and facilitate smoother negotiations moving forward.

Our agent, XXXXXXX, has acted professionally and diligently in this matter, ensuring his client’s interests were protected at all times. 

Thank you, 

Response from our Brokerage to their Broker, their Designated Broker and both agents involved. NOT the Seller. The listing agent was called by the broker and this was discussed thoroughly leaving the agent to discuss this with his seller client. 

Dear XXXXX,

I have reviewed your response to SellersXXXX complaint and would like to address certain inaccuracies regarding the conduct of our agent, XXXXXXX.

Fiduciary Duty and Setting Expectations: As the seller's agent, XXXX has a fiduciary duty to act in the best interests of his client, XXXXX. At no point did XXXX set unrealistic expectations or misrepresent the buyer's position. The assurances regarding financing were communicated based on information provided by the buyer's agent, XXXXX, including a pre-approval letter and confirmation of financing approval from CIBC.

Financing Condition and Contractual Obligations: While Clause 8.4 allows the buyer to withdraw if financing conditions are unmet, it's important that such conditions are handled with transparency and good faith as outlined in section 8.1. The repeated extensions granted, based on the buyer's agent's representations, resulted in significant inconvenience and potential financial loss to our client. The sudden withdrawal, especially after prior confirmations of financing approval, raises concerns about the professionalism and honesty of the communications from the buyer's side. Also, we adhere to trust conditions as set out in section 4 of the contract, and we already sent the deposit back. 

Professional Conduct: Accurate and honest communication is a cornerstone of our profession. Providing assurances without certainty can mislead clients and damage trust. It's essential that all agents verify information before relaying it, ensuring that all parties can make informed decisions and disappointments do not happen.

To prevent such issues in the future, I recommend that all agents exercise due diligence in verifying critical information and maintain open, honest communication throughout the transaction process.

Thank you for your attention to this matter.

Best regards,