In January 2013, we listed our home located in Maryland for sale as a FSBO using www.forsalebyowner.com for $799. Two days after listing our property, Mr. Hennerty contacted us via cold call to offer his services. We reviewed NetRealityNow.com and read various online reviews and decided that a licensed Real Estate Broker with 25 years of experience would be a valuable resource during our home sale so we signed a "Consultant Agreement" for $1600 with Mr. Hennerty.
The Consultant Agreement provided the following "minimum services":
1. MLS Listing Review and opinion.
2. Review of major public websites.
3. Comparable property report and review.
4. Marketing advice.
5. Unlimited phone consultation from list date through closing.
6. Contract, disclosures, and other necessary forms to complete.
7. Contract review and negotiations.
8. Home inspection review and negotiations.
9. Total guidance and contract acceptance through closing of the transaction.
10. Hud-1 and document review prior to closing.
11. Phone support at closing if needed.
We received very few of the "minimum" services listed above. Mr. Hennerty never provided any information regarding items 1, 2, 3, 4. Items 5, 6, 7, and 9 were completed to a level of poor to below average. Finally, we never gave Mr. Hennerty an opportunity to address items 8, 10, and 11 because following contract acceptance, we were fed up with his incompetence and poor attention to detail.
Despite being a licensed Broker with "25 years of experience", Mr. Hennerty was not current on Maryland real estate laws or transactions, routinely struggling to answer County-related contractual questions during our review of several different offers. Mr. Hennerty also struggled to provide adequate answers to our HUD-related questions, such as "which seller closing costs are required/negotiable?", stating that "every state is different and I haven't done a transaction in your Maryland County in awhile." The best he could do was provide us a HUD-1 from a sale that occurred several years ago. His blatant lack of knowledge and inability to find us suitable answers lead us to continually search for explanations online and ask friends who are Real Estate Agents in other states for guidance.
Mr. Hennerty also displayed very poor attention to detail. Once we agreed to terms with a prospective buyer, who was not represented by a Real Estate Agent, we asked Mr. Hennerty to draft a simple sales contract. This document took two revisions to correct numerous careless mistakes, to include mis-spelled names, incorrect and missing information, missing contract disclosures and County-related addendums. Mr. Hennerty's response to the first series of mistakes was, "well I meant this to be a 'first rough draft' ". Rough was correct. The back and forth communication with Mr. Hennerty to correct his mistakes ultimately cost us four days. This is not how an experienced professional operates a business.
On a positive note, albeit a very small one, Mr. Hennerty was fairly responsive aside from a few occasions when he was busy showing homes to, and working with his "real" clients. We understand these instances since a potential 2-3% commission will trump $1600 every time.
Throughout this process we became increasingly frustrated with Mr. Hennerty's incompetence. We eventually stopped contacting him with questions, and ultimately relied on our Real Estate Agent friends and the Internet to get us through the Home Inspection review and repairs, HUD-1 review and ultimately contract closing. We sold our home as a FSBO to save some money. We enjoyed showing our home and working with dozens of Buyers and Buyers agents. We originally thought that someone with Mr. Hennerty's credentials and presumed experience would be a valuable asset during our home sale. He was ultimately a $1600 mistake that we wish we could take back. read more