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

To: Smart_Asset who wrote (3307)	7/10/2002 1:12:12 PM
From: Jack of All Trades	Read Replies (2) \| Respond to of 306849

Do you see much self listing going on, where the seller actually lists the house him/herself and only has to pay half the commish? Is there any downside to this?

To: Smart_Asset who wrote (3307)	7/10/2002 3:07:13 PM
From: MSI	Read Replies (1) \| Respond to of 306849

How about this one: I once bought a property from a large NY company for the mid- 5 figures. I thought it was worth a lot more, but this was an unsolicited offer, so I started low... While in escrow, I got a different appraisal and hard-money lender for mid 6-figures, and walked out of escrow w. $100k cash ! (and a big loan, of course)... I used part of that to put a road in and sold out a few months later to monetize the gain. Was that sneaky? My thinking at the time was (and still is) that it's the seller's responsibility to accept or reject my offer. Since it was raw land I knew there were unknown risks, maybe the seller knew something I didn't, and maybe it wasn't worth what I thought. Even so, the seller tried to reneg, but the sale went thru. Moral of the story: another good reason to list properties in MLS and get WIDE price exposure.

To: Smart_Asset who wrote (3307)	7/10/2002 3:31:52 PM
From: Tradelite	Respond to of 306849

Tamson, agree totally about needing full market exposure. That's part of full-service brokerage, and sellers should have it. Haven't really ever seen "private deals" going on the behind the scenes--ethics were pretty high in the company I worked for, and other agents and the manager would not have tolerated it. Do seem to recall one husband/wife agent time being dismissed from the company many years ago for something like that after another agent made a big scene about it, but really just never saw it happen. Believe the issue was brought up, however by some people who object to the delay in getting listings into the MLS or onto websites. Sometimes it just takes that long to get the listings on there--and it takes that long for the seller to prepare for an onslaught of visiting agents and buyers once a home gets in the MLS. Don't think brokers owe the public any more than this. But in my opinion, there's nothing deceptive, shady or slimy about talking up the listing with associates and getting the marketing ball rolling that way. I would HATE to miss out on an offer for my seller by failing to tell fellow agents about a listing that their buyers might want--heaven forbid their buyers buy something else before they've seen mine.