This week’s winning comment comes from ‘Common Sense’ and relates to Tuesday’s breaking news piece about a broker who was banned after he threatened to lodge a caveat to induce a client to pay fees.
While Jon Denovan later explained to Australian Broker that it is never legally acceptable for a broker to lodge a caveat (see Wednesday’s story), Common Sense’s comment nevertheless raises some excellent points:
“Perhaps the word "threatening" is the issue. Intimidation in any field is wrong. If he is legally allowed to lodge the caveat, then there is no need for a threat of such action - just do it. Of course, it needs to be weighed up with whether or not it's worth it or even a method of receiving his fees. I would hope that there would be better ways to negotiate with your own clients on payment requirements. As many experts point out, often the amount of funds is not an issue, it's when the client/s are unaware or poorly briefed on costs due - when the break down usually occurs. In this case, was a basic "quote" even provided? Why was the client unwilling to pay the fee? What is the real story behind this issue?”
Thanks to everyone who contributed comments over the last seven days and keep an eye out next Friday to see if you're the author of Australian Broker's next top 'Comment of the Week'!