Realtor NOT the listing agent on their own house

TheHulk

Now, why in the world would you someone give up a "3%" kickback on your own house? Is it that you are too ashamed to list your own house and cant sell your own house? My word that would be something wouldn't it - a real estate agent who cant sell their own home. That wouldn't be good for business.

The listing is at (hmm I will reveal this only by popular demand), and this realtor (who shall remain nameless) has tried every sneaky trick in the book from relisting multiple times to jacking the price up and down with the relisting in an attempt to goose the price. Its a good thing redfin shows the cumulative days on market (unfortunately not all the price listing changes though).

Currently the going price is 450K (I think it was as high as 490K at one time) and now the seller is now paying 6 months HOD... why not just lower the asking price by that much?

Charles Dean

Having another agent list your house is not a bad thing, as it gives you a sort of legal buffer for selling the property.

When you're a licensee, you are expected to be the professional and know the law. If a consumer gets screwed by you and you represented yourself incorrectly and didn't have representation for yourself, you're screwed every time.

If you also represented the buyer, you're triplescrewed.

It's not unlike a lawyer having a buddy of his represent him in court.

Also 3% is not and hasn't ever been etched in stone. I don't think I've ever charged 3% on any listing I've ever done. Probably just did it as a favor, or is gonna buy him a couple of beers when it closes.

TheHulk

If anyone is interested, the MLS numbers for this listing(s) are 28179078 / 28178666.

Charles, I would accepted your arguments as plausible except that the listing languished for 6-8 months when the realtor\owner was also the listing agent.

I think this is more to save face than anything else. I wonder how many other agents are doing something similar.

jillayne

it's possible that the homeowner has negative equity and is trying to avoid a short sale by pricing it too high.

Maybe the second agent is going to kick something back to the homeowner/agent after the close of escrow? Not allowed, but perhaps it happens anyways.

Markor

I seriously wouldn't pay even $250K for that place, FWIW, given the location, that it's a townhouse, and despite looking relatively nice inside. That's compared to today's list prices elsewhere.

tomtom

TheHulk wrote:

If anyone is interested, the MLS numbers for this listing(s) are 28179078 / 28178666.

Why is this listed once as a condo and then as a residence? Is this appropriate under the rules of the MLS?

Charles Dean

I didn't catch that they had actually listed it themselves previously. That is strange. Maybe they're no longer active on the MLS because they aren't making any money.

Lake Hills Renter

Maybe their RE license expired? Does that happen?

TheHulk

I am sure this Realtor still has a license, because I can look up his/her name on their companies website. That also shows me the the listings they have up for sale in that agent's name (which of course does not include this listing).