What would be appropriate here?

[Pandabites]

Hi all

About 18 months ago, received an email from property manager that tenants were interested in purchasing the property they currently rent and was I interested in selling? At that stage, no, wasn't looking to sell.

Situation has since changed and am looking to sell said property in early 2009. Still have the same tenants, but am considering approaching tenants privately to see if they are still interested in purchasing. If they are, would go along these lines, as saving agents fees would be the main reason as the sale of this IP will go a long way to help pay off PPOR.

Dilema - is the agent entitled to any fees? I guess legally not, as I didn't engage them as selling agent etc etc..but I have that little voice in the back of my head saying 'Hmmm, ethical approach here?'

Any thoughts would be appreciated..

 

[marg4000]

Firstly, check your written agreement with your PM carefully to see if anything is said about this situation.
Marg

 

[hobo-jo]

Assuming that the RE agent didn't ask them specifically whether they were interested in buying and present you the offer, then really all they were playing is messenger boy. It could have just as easily been a direct offer if you had been managing the property yourself.

From an ethical POV (in my opinion) I don't see that you would be doing anything wrong by going to them direct and cutting out the middle man, but as suggested above..check your contract with the PM.

 

[Pandabites]

Thanks for advice, will check and see....

 

[Pushka]

You probably need to do a search for this very issue - was a hot item a couple of weeks ago, originally asked by um, I'll try and find it....

Ah, AlexG

http://www.somersoft.com/forums/showthread.php?t=45584