It seems to me that it was last year, maybe the year before, that a well-respected Dallas magazine with a big circulation wrote a story about a Dallas well-known husband-wife real estate team.
The couple was famous for marketing the multi-million dollar homes, and had been for a number of years, so the editors opined this story should be on the cover and would bring lots of interest.
It seems that in addition to listing and selling big homes, the husband also had allegedly been marketing investment partnerships.
The article said that things had gone bad for his investors, people claimed they had lost money, lawsuits were filed, the IRS had filed a huge tax lien against the couple, and the wife had told friends that they were having trouble keeping the utilities on and food on the table. The IRS had garnisheed all of their assets.
It looked like that for them the big home and the fancy cars, designer clothes and the sterling reputation were going to be a thing of the past.
I wrote a piece that I posted on Active Rain, taking the magazine to task for chiming in because I thought the magazine was unnecessarily adding to the couple's woes, albeit, attempting to build magazine sales at the expense of the couple's misfortune.
But what really had me foaming was that the couple had been big advertisers in that magazine for years. My thought was it was an example of "biting the hand that feeds you."
On top of that, I despise disloyalty. I thought that was, perhaps, what the magazine was guilty of.
Although I had never met or done business with either member of the couple, I also wrote them a letter expressing my displeasure with the magazine article, and offering to help the couple, if I could, by joining their legal defense team as a strategizer and an expert witness. (A major portion of my practice for twenty years was doing just that, and for some of Texas' most famous trial lawyers.)
I never heard from either of them; in fact, they ignored me altogether. After awhile, I didn't think about it further. And at this moment, I don't know how things turned out for them, and I'm fairly sure that I don't have an interest in knowing.
Recently, I was called to list a nice Highland Park home, one that had been listed by another Realtor about two years ago. After a full twelve months, according to MLS, it had brought no acceptable offers, so it was leased for a year.
My client told me yesterday that the prior agent had called him to express offense that my client had given the new listing to me rather than to him. Unless things have changed without someone telling me, that call was a serious ethical violation.
I told my client that I didn't know who the agent was, but that if he/she had worked for me and I heard about such behavior, it would have been his/her last day.
After I hung up, I looked for the first time to see who the former listing agent had been. You guessed it.
BILL CHERRY, REALTORS
DALLAS - HIGHLAND PARK
214 503-8563
Since 1964
Hi Bill... this is a great story, well told and a good example of how, apparently, sometimes the press can correctly assess someone's character. I like that you have such a strong sense of loyalty as well as a sense of right and wrong, but just because someone advertises in a publication I don't believe that it should provide them with immunity from negative reporting on them as long as that reporting is truthful.
Hey Steve--
I see this as you do, and you obviously taught me a lesson I needed to learn. Thanks for doing that.
Bill
Ethics is not just on paper, its how we have to behave otherwise we are no better than the image the media protrays us
This is how one writes a tale.
Bill:
What a great story. It's wonderful that you always see the good in people. The ending of your post was classic.
Great story. Sounds like the couple got what they deserved.
Carol, Andrew, Tom and Andrew --
Thanks for your thoughts. I appreciate your chiming in.
Bill
Hi Bill -- Great story, and sad too. It is said that a few bad apples can stink up the whole bushel.
Interesting story, although I am not sure that contact from the old listing agent to the client would really be considered a breach of ethics; a little stinky, I guess, but follow up to see why you are losing business should be an acceptable call.
Bill, well writen and fun to read. Thanks for the post.
Pretty ironic story. Now I guess you know how things ended up for them huh? LOL
An entertaining read and unfortunately too true of a "bad apple in a bushel" as Chris Olsen called it. I still believe that there are more good than bad folks, but, greed and the current economy will probably bring many more of the bad out of the woodwork.
Sue of Robin and Sue
I am familiar with that article and it looks as though those glam realtors were indeed guilty of style over substance. Keep up the good work!
Slow but steady wins the race.
Great story, with a surprise (or maybe not) ending!
It's hard to teach an old dog new tricks, amoral people don't realize they are doing wrong !
Great story Bill! As long as it's being reported truthfully, I don't see that magazine doing anything wrong. You mess with people's lives, you have to expect the negativity that comes along with that. It's a shame they did what they did. It's called greed!
To all of you -- Michael, Jackie, Russel, Lisa, Carla, Sue, Nathan, Russell, James, Aaron, 2 Andrews and Chris --
Your comments did a great job of adding to my post. Thanks for writing them. Michael Perry's thought is a sad but accurate one, I've found. My wife is a psychotherapist. She says it's simply acting on their out of control narcissistic behavior.
"But what really had me foaming was that the couple had been big advertisers in that magazine for years. My thought was it was an example of "biting the hand that feeds you." On top of that, I despise disloyalty. I thought that was, perhaps, what the magazine was guilty of."
I'm sure cigarette companies felt that way, too. Me? I think that is what the business of newspapers and magazines is all about, discovery of truth and alerting the public (which happens to buy the rags) to what is going on so they can protect themselves. Kind of the way I feel about my job as a real estate salesman.
Plenty of lessons to be learned by this story. Glad it was featured and thanks for sharing
Tony
The mission of news organizations is to report the news. I actually admire the editors for not allowing real or potential advertising dollars to influence their decision to publish an article that may not be flattering to one of their advertizers.
Hubris will get you every time. We had a Realtor who went to jail for a Federal felony. She still feels she did nothing wrong and it seems these people didn't learn any lessons either.
Bill,
Most of the time, things really are as they seem. Sounds like the financial woes of this couple were just a come-upins' for what they had sown. I hope you file an Ethics complaint, or at least make a phone call to their Broker (oops! They may be "the broker"!) Happy serving and selling in 2010!
kp
Bill: Isn't that a shame? Good for you for sticking to the high road.
Funny how karma works sometimes. Great story Bill and thanks for sharing this!
Bill, Congratulations on your high ethics. What's the saying? Do unto others as you WANT them to do...not as they DO! Maybe eventually, the sad lessons will be replaced by only successes. Happy 2010 to you and yours.
Wonderfully told story, Bill. It's a shame that someone you went out of your way to try to assist turned out to be exactly what you were hoping they weren't.
Thanks for sharing this story, Bill. I think the arrogance of the ostentatious agent is usually their downfall. They get away with a little at first, then that becomes the norm, they push it and push it. We have all run into agents who think "puffery" is really a tool for them to use to lie, cheat and steal from unsuspecting clients. People like this get what they deserve--Think Bernie Madoff here. And by the way isn't that the perfect name for this criminal since he made off with so much of other people's money. We keep our own industry stronger by speaking out about these kinds of agents. Ethics is a daily practice, morality is something that is born and bred into you from an early age. I am proud of this industry when we work hard and do the right things for the people we serve. Thank you again Bill for sharing this story.