The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Elroy Jetson who wrote (3279)	7/10/2002 4:31:20 PM
From: Jim McMannis	Read Replies (1) of 306849

RE:"I think the bigger problem is many firms using "pocket listings". The listing that is not entered into the MLS. MLS members must upload the details of a signed listing with 48 business hours or face a potential $500 fine. But they have to be caught first, and this does not apply to listings that are not yet signed. Agents will shop these deals to their clients and clients of friends to keep the commission in house. The losers are: the home seller whose home is not exposed to the entire market and transacts at a lower price; buyers who are not given an opportunity to purchase; agents who are not part of the listing cabal." If the seller so requests the agent need not enter the listing in MLS. OTOH, there may be some abuse... as you suggest... Jim

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