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

To: Tradelite who wrote (3282)	7/10/2002 7:11:27 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Regarding so called "pocket listings". I believe that this slimey practice violates the Listing Agent's fiduciary responsibility to the Seller. The agent places their interest in collecting the selling commission, in addition to the listing commission, above their Seller's interest in obtaining the best price by exposing their property to the entire market through the MLS. Many agents will try to rationalize away this conflict of interest - and besides they have E&O insurance when the Seller sues them - but they are betraying their Seller for their own interests. Regarding delayed MLS data for the public, I think this is a misplaced concern. Real estate buyers who perform their own property searches are easier for a knowledgeable agent to work with - for heavens sake, they are doing more of the work themselves and become more familiar with what will meet their requirements. They will still purchase through an agent as the transaction and disclosures are complex, and more to the point all properties in the MLS have signed listing agreements requiring a commission to be paid. If an agent does not believe they can provide value to their client without relying on "pocket-listings" and delayed market data to their clients, I believe they would be better off in a different career. As complexity increases, this type of agent will be forced out in time anyway - why not make the change now rather than further fighting to prejudice their client's interest.

To: Tradelite who wrote (3282)	7/10/2002 12:36:28 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

simple... full disclosure at the time the listing is "listed".. i know you are retired tradelite, and you may not have had the online, REAL TIME access that the internet provides when you were "active" but there is absolutely no reason to withhold for 48 hours listings...except to line the pocket of the LISTING agent... I'm sure glad those listing fees are negotiable, aren't you? :) Should Realtors just step aside and let all buyers and sellers deal strictly with each other? happens all the time...my last real estate transaction was handled by my attorney, for a very reasonable fee. (hourly rate) Should each and every home seller be left alone to place his own ads and attract his own market? happens all the time...it's a free market. Should each buyer take the time to ferret out all the homes for sale in his community without any help from anyone else? happens all the time...despite the efforts of MLS members to 'hide' for 48 hours "their" listing. Should buyers walk into houses blind* without any comprehensive source of information at all about comparable sales and pay any price the seller is asking?* what a stupid question.