MarkB19 (Florida)
Posts: 2
Posts: 2
Posted:
In July 2014 Our HOA Board of Directors entered into a 48 month Agreement with a Local real estate agent, by name, who was at the time an agent at a Coldwell Banker Residential real estate firm here in Florida. The selection of this
Individual was based on the recommendation by the President of the HOA who had/has a close personal relationship with the agent. No other candidates were considered. The HOA supplies the agent with all administrative necessities, including personal office, phone, computer server and full access to the community. The HOA is not compensated other than the fact the agent provides "marketing" for the community.
Under the terms of this specific Agreement the agent Agrees to use "the brokerage firm of Coldwell Banker for any and all real estate transactions." The last paragraph goes on to state "this agreement represents the entire Agreement between the parties. The agreement may not be amended, changed, or supplemented in any way except by written agreement igneous by both parties."
In July 2015 the agent went to another local agency and works exclusively through that agencies brokerage house, which isn't Coldwell Banker.
Our BOD is aware of this and has taken no action to either amend the agreement or seek another Agent who operates through Coldwell Banker not to mention they have not informed the 300+ members of the community. Am I correct in assuming this contract is void? Should Coldwell Banker be eligible to recoup lost brokerage revenue. What should my recommendation be to the greater HOA? I consider that both BOD and agent have acted unethically in this matter.
Mark
Individual was based on the recommendation by the President of the HOA who had/has a close personal relationship with the agent. No other candidates were considered. The HOA supplies the agent with all administrative necessities, including personal office, phone, computer server and full access to the community. The HOA is not compensated other than the fact the agent provides "marketing" for the community.
Under the terms of this specific Agreement the agent Agrees to use "the brokerage firm of Coldwell Banker for any and all real estate transactions." The last paragraph goes on to state "this agreement represents the entire Agreement between the parties. The agreement may not be amended, changed, or supplemented in any way except by written agreement igneous by both parties."
In July 2015 the agent went to another local agency and works exclusively through that agencies brokerage house, which isn't Coldwell Banker.
Our BOD is aware of this and has taken no action to either amend the agreement or seek another Agent who operates through Coldwell Banker not to mention they have not informed the 300+ members of the community. Am I correct in assuming this contract is void? Should Coldwell Banker be eligible to recoup lost brokerage revenue. What should my recommendation be to the greater HOA? I consider that both BOD and agent have acted unethically in this matter.
Mark