When did I ever justify dishonest business practices? I just laughed at the insane pricing he was offering and in 3 consecutive comments below said he should’ve been transparent. Read through my reviews if you’re interested in seeing how I do business. I refund broker fees if my quotes are off by a dollar, I’ll send back $35 to make up for the discrepancy for the length of the lease. Don’t attack someone else without reading a thread. Makes you look stupid.
Bro I don’t care about your business. Good luck selling Hyundais tiger.
Sounds like you care a little bit pal.
Yes, about $15. He pre-negotiated the flat discount from MSRP with the dealership beforehand but can’t control the minor details such as exact sticker price. So this deal happened to come out $15 less than the example.
I’m repeating myself but the bottom line: those savings should be passed onto the consumer, especially when it is explicitly stated as being applied towards the payment. And even worse is lying about it.
I know $300 is not a lot of money. But expand out the same behavior to a larger purchase. How would you feel if your real estate broker engaged in the same practice?
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Moiz, you don’t want to comment on the ethics since you don’t know the guy firsthand. Fine, maybe that’s industry courtesy. But I’ve laid out all the facts here and you’ve stated that you wouldn’t conduct business in the same way. So it seems like you agree on the principle.
Yes: should be transparent. 100%. Should put a higher broker fee if he’s charging more. I have gone up to $999 broker fee on deals that are giveaways. Some at $2K. I’m entitled to earn, if you don’t like my deal, then don’t take it.
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I’m a real estate agent. If I did this, we would be fined, restitution, lose our license, etc. We are held to a much stricter ethical standards than LH brokers lol. And even still, I’ve met agents who aren’t lmao.
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Thank you. That is my point. If you have a client who is willing to pay $2M as a buyer and you inquire with the selling agent who informs you that the seller is willing to sell at $1.8M. You have the buyer wire escrow for $2M, remit $1.8M, and pocket the $200K for yourself. That would be fraud, despite the buyer’s out-of-pocket being what was agreed to.
You do realize this entire site is essentially brokers that have “special” relationships with dealers with “understandings” and “agreements” that other dealers and potentially even the corporate side of the manufacturer frown upon? We are not underwriting a full commercial property here. I respect a couple of your points, but you’re crying foul over a site that acts as a cheat code with dealers to begin with. To be clear, if you were manipulated out of more money than was shown in your original net outlay, I’d be on your side completely.
If broker listed this:
$1000 broker fee
$500/month
Or:
$200 for my mistress
$300 for my dealer
$500 for me
$500/month.
Same difference.
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This is the main reason I wasn’t calling out Seth’s character. If anything, I just meant, group it all as a broker fee and call it a day lol. But then people like MattEvan exist and will cry about a broker making anything over a $799 fee.
No, your example isn’t even the same. I’m fine with “$200 for my dog” if that is what is advertised up-front. Not when the end destination is obfuscated.
And you clearly see some benefit of being on this forum by being here and commenting. Why condone or excuse the bad behavior, no matter insignificant of a dollar amount? If it’s wrong, it’s wrong. Calling me naive doesn’t make it OK.
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Ultimately isn’t this what happened?
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Can I be your real estate agent? Mortgage broker? Yes, the out of pocket was the same. Where the money went is a different story.
No, you can’t.
Aside from that - do you know for a fact that the dealer sold the car for less and that difference is the amount you claimed to be the “extra” that was pocketed by the broker?
I just don’t think you were harmed in this situation. You can absolutely take exception to the process, but the broker can’t put “$300 to the sales manager for giving me preferential inventory” in his listing publicly.
Something was marked down further to create liquidity for something else needed to keep the operation going, but your net outlay was still the same. Do I think the entire thing should’ve just been listed as a broker fee? Sure. My point is don’t cry foul over dollars going into the pockets of someone else that likely allowed the deal to be available for you to begin with.
If the broker advertises $799 broker fee and OP friends pays $1099 its the friends fault to proceed with the deal.
Exactly. I’m trying to get at the principle here. Scale this transaction to a larger one and suddenly it becomes more obvious that the behavior is unethical. The $300 really is secondary. I tried to reimburse my friend out of pocket myself. That didn’t work, but I settled for paying for a nice dinner.
Yes, I do. I spoke with dealership management who confirmed it.
I don’t think that’s a safe assumption. The dealership was genuinely surprised when I brought it up. Give him an Oscar if he managed to fake that.