Real Estate Hut Realty

Over the past two weeks I have been working with my Realtor to purchase a piece of property that is adjacent to my home. The property is a foreclosure and currently owned by Scotia Bank and is listed by Dale M****, a Real Estate Hut Realty Inc. Realtor. I opened up with a written offer and they countered. This went back and forth a couple of times and we were narrowing in on a final price. Then the Real Estate Hut Realty Inc. Realtor went "dark" and basically stopped communicating for a few days. My Realtor finally got in touch with Dale’s associate sales agent Pawan J**** who said that he had accepted another offer, and with no notice that another bidder even existed.

So basically while I thought we were in calm negotiations on just final price, Dale M**** was working a back door deal to have another individual to buy it outright. As a Realtor, he knows well that he was duty bound to inform both bidders that they need to submit their highest and best offer. This was an obvious attempt to avoid having to split the commission with another Realtor. So not only did he screw me while in price negotiations, he also screwed the seller (Scotia Bank) by not securing the highest possible bid for his client. I will be making sure the bank is well aware of this unacceptable conduct. My Realtor will also be filing a formal complaint with the Toronto Real Estate Board (TREB) and Real Estate Council of Ontario (RECO), as this is extremely improper business ethics for a Realtor.

The main difference between being a Realtor and not just a real estate agent is the agreement that you will abide by the Realtor code of ethics and agree to be accountable when you do not. After seeing how they work, I would be sure to steer clear of Real Estate Hut Realty if they affiliate themselves with people like Dale M**** (broker).