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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (2824)	6/19/2002 12:16:01 PM
From: MulhollandDrive	Read Replies (2) \| Respond to of 306849

i'm saying there are unscrupulous agents, and i'm also saying it is human nature to act in one's own best interest... as an example..considering the tricky element of realtor fiduciary responsibility... an agent working for XYZ Realtors is representing a seller of a property that has been on the market for an "average" period....it's nearing the end of the month....and it just so happens that XYZ Realtor has an "incentive" going to the highest producing agent for that month... the end of the month is nearing and this particular agent is in the running to be the top producer and receive the "incentive" whatever that may be.. he knows if he can just sell that one lagging (in his opinion) property...he "wins" then he receives an offer...low ball but not totally out of the ballpark...he encourages the seller to sell and he does, and everyone is happy, right? maybe...assuming his participation in the monthly sales push was disclosed to the seller. i'm not talking about extremes being overly realistic....maybe just a percentage point or two...but the question remains, did the agent REALLY act in the best interest of the seller? was there FULL disclosure? i think the scenario i have described above can happen without much rationalization on the agent's part...it's a simple matter of knowing that ultimately the seller has to take responsibility of knowing the market value enough to not succumb to undue realtor pressure one way or the other.