[Jan A]

House sale​

A real estate agent friend alerted me to a fraud practised by some unscrupulous selling agents. In the sale contract, the percentage paid to the agent is listed. It is usually expressed something similar to: 3___% or 2.9__%. You will notice there is a slight gap between the number and the percentage sign. After the contract is signed, the agent inserts a number into that gap to increase their commission payment, e.g. 3.5% or 2.99%. The settlement process is so complex that rarely does anyone go back to check whether the percentage given to the agent matches the agreed fee on the contract. The agent may be paid thousands of dollars more than agreed. Before signing a sale contract, make sure you put 2 or 3 lines between the commission amount and the percentage sign: 3==% or 2.9==%. Keep a copy of the original signed contract handy in case you subsequently decide to check the commission amount paid. Note that not all agents will behave in a fraudulent way. It is only a minority who do this kind of thing, but it is best to protect yourself just in case.