What I dont understand with Green Hills is, if the builder paid the commission up front and then a client cancelled or just didnt complete, surely the agent must have had to give the money back
I have spoken to several of the large EA’s who have “cold called” me( and probably wished they hadn’t by the time they put the phone down!! 😆 )and one of the ones whose initials we are not allowed to use, told me that they get their commission approx 15 days after the contract has been signed. If the builder is that stupid to pay up front, without some proviso agreement, then they deserve to loose that money. Before all of these corruption scandals came to light,I do believe Eralia was a reputable developer with no problems. Then again the bribing scandal hadn’t come to light, so they got away with it.
Secondly I can’t think where the builder could get the money from to pay the commission
The developer took millions of euros as deposits on the upper blocks of Green Hills. They also took out mortgages on each and every one of the apartments, even though they were never built. Even after the BL was suspended,(Dec 2003) they were still marketing the upper blocks.People actually put deposits down in late 2003 and early 2004!!! 😯 ) Our current lawyer showed us a copy of the mortgage certificate applicable to our apt. !! I don’t think money was a problem.
Going back to the EA’s commission. We asked the agents in PB if, as a gesture of good will, they would forgo their commission so that IF we took the money MVG offered us (although their recent track record tells me that when push came to shove, they wouldn’t have paid us) we would then get 75% of our money back. Guess what they said??!!