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Ambassador
3,724,022
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Yes.  It's not making a mistake, but how you handle it.

Feb 05, 2016 11:27 AM
Rainer
224,019
LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

I almost got caught on buy side forgot to check box on contract seller to pay transfer tax. Luckily I caught it on counter one and was able to rectify in counter 2.  

Feb 05, 2016 10:33 AM
Rainmaker
140,895
Chrissi Chapman Topoleski
Coldwell Banker Realty - Woodbridge, VA
Passionate about helping others achieve success!

I credited my seller once for something I miscalculated. Your question is a really good one.

I just wrote a blog about an error I made with my buyer today...I am not paying out money, but confessed my mistake. 

Feb 05, 2016 10:05 AM
Rainmaker
846,375
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Never had that experience but I would fix it somehow.

Feb 05, 2016 07:41 PM
Rainmaker
397,250
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

Eat dirt and make it right.  It's about character and personal responsibility.

Feb 05, 2016 01:47 PM
Rainer
216,063
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

Debbie Reynolds Great question!  Yes, if this ever happened, I would feel obligated to do so. It would be the ethical thing to do, in my mind.

Feb 05, 2016 01:09 PM
Ambassador
3,059,903
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I've done so for both buyers and sellers.  It's been as costly as a new refrigerator.  But always been a lesson and haven't re-made the same mistake again.

Feb 05, 2016 11:51 AM
Rainmaker
2,224,167
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I would have to own up. It's the right thing to do. 

Feb 05, 2016 11:31 AM
Rainmaker
4,193,708
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Yes I have only ones in my early years, learn from your mistakes.

Feb 05, 2016 10:20 AM
Rainmaker
290,619
Allie Angeloni
Long Realty - Oro Valley, AZ

I have not experienced this Debbie Reynolds, so I asked Roger (from Team Angeloni), and he said 'Yes, as long as it wasn't a ridiculous amount'.  Hope that helps . . . 

Feb 05, 2016 10:11 AM
Rainmaker
2,013,087
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Fortunately I have not had that experience yet but I believe if it did happen I think I would do all I could up to the full amount of my commission to make it right.

Feb 05, 2016 09:50 AM
Rainmaker
4,334,714
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Fortunately, I've not been in this situation, Debbie, but if I were, I would pay the difference.

Feb 05, 2016 08:53 PM
Rainmaker
2,488,441
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Debbie. Never comfortable, but yes, if it is our screw up, it is our responsibility.

Feb 05, 2016 06:33 PM
Ambassador
4,683,042
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yep, I made a goof, admitted it, and said I would pay for it - I thought it was fair even though the seller protested

Feb 05, 2016 01:19 PM
Ambassador
4,315,625
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Debbie Reynolds - If I have made a mistake, I am perfectly fine to offset the cost. However, so far, it's not happened with either buyers or sellers.

Feb 05, 2016 01:18 PM
Rainer
342,365
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Earlier in my career I quoted a rate and the particulars shifted (partly their fault for not disclosing something but mine for quoting while driving on blue tooth) I paid the whole. I learned to only do this while I had all the facts in front of me and could execute in seconds. Now because it's such a mouse trap I state all the exceptions and give a general statement that I have to be at my  desk to lock and give them the time when I can check and pull the trigger. I tell my children, "its good to take risks, its great to fail, because the sting will remind you to never repeat the error."

Feb 05, 2016 01:00 PM
Rainer
16,606
William Ferguson
Sun Realty Group - Braselton, GA
Associate Broker (678-925-8375)

Yes,

That is the cost of doing business and keeping your reputation intact. The mistakes that cost you the most are the ones you learn the most from...

Feb 05, 2016 11:07 AM
Rainmaker
1,231,605
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Fortunately I never had this mishap on seller or buy side.

Good question Debbie Reynolds 

Feb 05, 2016 10:57 AM
Rainmaker
3,070,584
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

You bet.  Hasn't happened yet - but those that cause the expense get to pay for the expense!

Feb 05, 2016 09:34 PM
Rainmaker
3,368,106
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

SO far so good "knocking on wood"

Feb 05, 2016 09:09 PM
Rainmaker
4,415,317
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Yes, honesty is the best policy and you have to stand behind your work!

Feb 05, 2016 09:09 PM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It is the right thing to do.

Feb 05, 2016 08:54 PM
Rainmaker
586,107
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

 If it is a "mistake", that's why real estate professionals carry Errors & Omissions insurance.

Feb 05, 2016 11:55 AM
Rainmaker
912,365
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Debbie - If that were to ever happen, I would feel so awful. Of course I would do everything I could to make it right.

Feb 08, 2016 10:32 AM
Rainmaker
5,163,391
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In my early years wrote a contract and forgot to include the stove.  Seller took it, and had to buy a stove for this buyer.  

Feb 07, 2016 02:14 AM
Rainmaker
1,413,354
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes.  Didn't lock out a dog once from a room and ended up buying new blinds for the owner.  Owning up to one's mistakes is one thing that will earn you respect and severly cost you if you don't.  Seen it MANY times in the corporate world.  I would always own my mistakes, which set me apart and above others.

Feb 06, 2016 10:15 AM
Rainmaker
140,618
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

If I make a mistake, I don't offer, I just go ahead and pay.  Luckily, I've only made small mistakes.

Feb 06, 2016 08:56 AM
Rainmaker
4,254,059
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I've never had this happen but I know what I'd do..the right thing and make it right!

Feb 06, 2016 07:35 AM
Ambassador
3,119,454
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

It only happened once with a home warranty. It was $15 I insisted on paying ... client REFUSED to allow me to pay it. I will always do the right thing and make my clients whole.

Feb 06, 2016 04:48 AM
Rainmaker
675,835
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Debbie Reynolds the buyers and sellers are making the biggest profit from the sale of the home.  We barely make a profit at the end of the day.  It is their purchase or sale and they need to pay whatever is right.  Yours or my mistake shouldn't change that.  They would have most likely paid the cost if they knew it up front anyways.  I don't like to pitch in on any transaction.  In fact, there are times that I wonder if they want to pay me more for the aggravation I've had to endure.  Commissions are being cut, costs are rising, we need to protect our pocketbooks.  (I know when pitching in can save a deal though)

Feb 06, 2016 04:24 AM
Rainmaker
32,001
Amelia Robinette
NoVa House and Home - Frankly Realty - Falls Church, VA
Education, Innovation, Service

yes and yes...i didn't have to in order to keep my client happy, but i had to in order to keep my conscience clear. it was my mistake, only seems right that i should pay for it.

Feb 06, 2016 03:57 AM
Rainmaker
4,799,651
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If it's my mistake, I think it's my responsibility to pay for it.

Feb 06, 2016 03:31 AM
Rainmaker
6,857,163
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I do not recall this happening. However, I think it is a good policy to admit your mistakes.

Feb 06, 2016 03:21 AM
Rainmaker
175,514
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

Wow.  Good question.  I have never made a blunder that cost them money but I have made plenty of mistakes, types, etc.  I own up to it, confess and apology as soon as I catch it.  More importantly, I do whatever it takes to make it right.  I have offerred commission reduction from time to time to get a deal to work, but that was not because of a "blunder" but my choice.

Feb 06, 2016 02:25 AM
Rainmaker
1,708,135
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

The question is a bit too broad based for a simple answer. Hopefully the "blunder" is of a small size where your generosity takes over. 

Feb 06, 2016 01:02 AM
Rainmaker
5,764,444
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Debbie,

Neither one of us have done that in our career, and if we had, yes, we would have done the right thing.  A

Feb 05, 2016 11:49 PM
Rainmaker
923,920
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

If I blew it, sure.

Feb 05, 2016 10:47 PM
Rainmaker
3,833,944
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Although it's a good question Debbie, it's never happened. I'm not really sure how this could happen???

Feb 05, 2016 10:40 PM
Rainer
80,553
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

I have offered to pay when I didn't make the mistake.  Just a couple hundred dollars.  It was just what I wanted to do.

Feb 05, 2016 10:36 PM
Rainer
60,641
Renee Paray
Coldwell Banker Preferred - Blue Bell, PA
REALTOR

I would tell the client the moment it was realized. I had an instance where the listing agent made a mistake and never disclosed in the MLS or the Seller's Property Disclosure Statement a one-time fee. The agent wouldnt correct it nor would the seller. My client was at their maximum budget. I had to forego .5% commission to cover. 

Feb 05, 2016 10:32 PM
Rainmaker
2,669,053
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Left the A/C on over night in a vacant house to its lowest temp and could have blown the regulator in addition to running up the bill. I paid $100 with my apology and thanked the seller for pointing this out to me

Feb 05, 2016 10:30 PM
Rainmaker
1,465,977
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Debbie Reynolds Fortunately, I have never had this happen. I would own up to the mistake and work it out with the client.

Feb 05, 2016 10:23 PM