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Realtor ethics

 
 
Martik
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      01-06-2006
I called a realtor last night and he seemed reluctant to sell the property -
did not want to meet with me, did not mention any existing offers.. Today
after wasting several hours of my time, I find out there was already an
offer on the property when I called. This property is priced BELOW market
value due to fire damage.
Me thinks he is making a deal with a friend and 'blocking' other offers.
Should I report him?


 
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Mitch
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      01-06-2006
In article <g5mvf.38101$AP5.34280@edtnps84>, Martik
<(E-Mail Removed)> wrote:

> I called a realtor last night and he seemed reluctant to sell the property -
> did not want to meet with me, did not mention any existing offers.. Today
> after wasting several hours of my time, I find out there was already an
> offer on the property when I called. This property is priced BELOW market
> value due to fire damage.
> Me thinks he is making a deal with a friend and 'blocking' other offers.
> Should I report him?


Sure -- you don't have to be right, and you don't have to have all of
the information, to get someone to take a look. After all, if he is
blocking other offers it also affects the seller and other potential
buyers, not just you.
The realtor does not get to decide who buys a property -- and he is
already very well-compensated for his time and effort.
 
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elaich
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      01-06-2006
"Martik" <(E-Mail Removed)> wrote in news:g5mvf.38101
$AP5.34280@edtnps84:

Realtor ethics? Isn't that an oxymoron?
 
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Todd H.
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      01-08-2006
"Martik" <(E-Mail Removed)> writes:
> I called a realtor last night and he seemed reluctant to sell the property -
> did not want to meet with me, did not mention any existing offers.. Today
> after wasting several hours of my time, I find out there was already an
> offer on the property when I called. This property is priced BELOW market
> value due to fire damage.
> Me thinks he is making a deal with a friend and 'blocking' other offers.
> Should I report him?


What you're suspicious of is what's known as a "pocket listing" which
is not smiled upon in the profession.

Call any other realtor. If a property is listed in MLS and not
flagged as having a contract, they have to show it, and the realtor
(who'll act as your buyer's agent) will show the property to you. If
the house has a lockbox, it won't take him more than a phone call.

Getting another realtor involved will give you slightly better
representation in the ideal case, in the worst case, it makes sure
that this jackhole shifty seller's agent doesn't pocket all of the
commission rather than the seller splitting commissions between him
and the buyers agent. the other realtor can also advise you of
whether the selling agent is violating the realtor code of ethics or
the law.

--
Todd H.
http://www.toddh.net/
 
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Martik
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      01-08-2006

"Todd H." <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
> "Martik" <(E-Mail Removed)> writes:
>> I called a realtor last night and he seemed reluctant to sell the
>> property -
>> did not want to meet with me, did not mention any existing offers.. Today
>> after wasting several hours of my time, I find out there was already an
>> offer on the property when I called. This property is priced BELOW market
>> value due to fire damage.
>> Me thinks he is making a deal with a friend and 'blocking' other offers.
>> Should I report him?

>
> What you're suspicious of is what's known as a "pocket listing" which
> is not smiled upon in the profession.
>
> Call any other realtor. If a property is listed in MLS and not
> flagged as having a contract, they have to show it, and the realtor
> (who'll act as your buyer's agent) will show the property to you. If
> the house has a lockbox, it won't take him more than a phone call.
>
> Getting another realtor involved will give you slightly better
> representation in the ideal case, in the worst case, it makes sure
> that this jackhole shifty seller's agent doesn't pocket all of the
> commission rather than the seller splitting commissions between him
> and the buyers agent. the other realtor can also advise you of
> whether the selling agent is violating the realtor code of ethics or
> the law.
>




I did have another realtor call him. That's when he disclosed that there was
an offer.
So, why did he not just tell me he the first place? If he was interested in
an exclusive commission he had nothing to loose dealing with me directly.

I don't want to push this too far as it was a 'grow op' and criminals may be
involved.



 
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