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: Jim McMannis who wrote (3333)	7/10/2002 6:10:47 PM
From: Tradelite	Read Replies (1) of 306849

Having unknowingly walked into a very ugly situation years ago, involving a discount broker who entered a listing in the MLS for a seller about to be foreclosed on, I see problems maybe no one else thinks of. Any Realtor who enters a listing in the MLS is legitimately responsible for the accuracy and completeness of the information and should stick around and stand behind the promise to pay a selling broker a specific fee. (I did get paid, but the hassle and aggravation of having to deal with the shady, evasive seller and the seller's angry first and second mortgage lenders was unreal.) Perhaps this is why some agents won't even bother to show properties listed under this arrangement. Our company attorney opined at the time that we should all stay away from them, and that brokers who do this type of listing are cruising for a bruising in court. We can't begrudge anyone for wanting to save money, but sometimes the consequences are nasty. Any buyer who walks into one of those situations needs a suit of armor, too.

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