Although it’s been some time since my dreadful interaction with Mark Spain Realty, the constant barrage of radio, TV, magazine and billboard advertising and their “13,000 5-star reviews* finally compelled me to share my experience. First, let me qualify these comments with the fact that my wife and I just went through a divorce.
I let the ex-live in the house for a year, but finally it was time to move on and sell. The divorce decree stated we interview three realtors and if we couldn’t agree on a selection, the Judge would pick one. Edwin, a realtor at Mark Spain Nashville was the first to interview and we agreed to interview all candidates separately. My only real interest in this firm was to explore a quick cash offer. Edwin spoke with my ex first and told her I was ready to sign with them. That was a flat out lie. I had not even met or talked to the guy yet. Since she was led to believe I wanted to hire them, she went ahead and signed the listing agreement. He then came down to my office (with a trainee or newbie) and went through his sales pitch and told me my ex had already signed off. A sneaky, deceitful, slimy tactic. I believe he knew my ex and I weren’t communicating much and took advantage of knowing he could say whatever to each of us and we were unlikely to “compare” notes.
Immediately during his pitch to me, in which I think he was showing off to the new guy, he strongly recommended not to take a cash offer, it would be too low, not worth it, and to let them list it. He wouldn’t even entertain my request to at least go through the process and get a formal cash offer. He said the market was hot and there was no need to lose somewhere around 25% of the equity we had built up. I really hadn’t considered hiring them as a listing agent, but figured if the ex was ok, I too would agree.
I emphasized how important it was to keep my ex involved in any and all communications related to the potential sale of the house, which was stipulation in our divorce. As time passed, he recommended we drop the price a bit, which I was fine with since the value of the home had doubled since we bought it in 2005. He NEVER asked or told my ex of this step and she went ballistic after finding out the price drop without her approval, especially after my clear direction that she be kept in the loop on everything. Not only was that a huge mistake, I believe it might have been illegal but certainly unethical to reduce the price without her consent.
We also had a new grandbaby at the house, so my ex stipulated certain limitations on when showings could happen (during the baby’s nap times). He violated that time after time.
The communications with Edwin were few and far between after the first 60 days or so. I had requested regular updates so I could demonstrate to my ex, and court if necessary I was doing everything I could to sell the house.
What I was not told, and perhaps shame on me for not reading all the contract fine print, is that Mark Spain would only pay the buyer’s agent 2.5% commission, not the normal 3%. Again, sneaky, slimy and underhanded. I can only wonder how many showings we missed because the other agent wouldn’t earn a full commission. That was about $8,000 that would be taken away from the selling realtor and put directly in Spain’s pocket.
After 6 months and very little activity, they were fired. In about 60 days thereafter the house was sold by another realtor. I have bought and sold probably around a dozen homes in my lifetime, the first one bought when I was 19, and this was the worst experience I ever encountered.
I would strongly recommend staying away from this company. I wish instead of spending millions on advertising they would act more professionally, stop the deceitful actions and lies and maybe they wouldn’t have so many bad reviews and let the business grow by word of mouth. In my opinion they are almost about as bad as Morgan & Morgan injury lawyers with never ending advertising.
*Those 13,000 5-star reviews aren't so impressive when they've sold 100,000+- homes.