"Thanks Steve. I appreciate your position and will throw you a curve ball... I do have a fiduciary responsibility to my client before anyone else. If I am able to sell his house at a price that the bank accepts AND is reasonable for…"
Stephen Pringle's Discussions
Seller taking an offer before it hits MLS
Started this discussion. Last reply by Tom Braunagel May 21. 185 Replies 4 Likes
We are seeing a lot of agents pre selling their own own listings that are short sales before putting them on MLS. I know we have a fiduciary duty to the seller not to the bank but this act of not…Continue
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Joanna Durrant replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"Especially if you are in a non-deficiency judgement state, you are not doing yourself or sellers any favor by taking the highest offer. First off, why is a home being underpriced by $43,000? The short sale pricing should ideally reflect the…"
Thom Colby 888-391-5245 CA Brkr liked Stephen Pringle's discussion Seller taking an offer before it hits MLS
Donna Clayton, Broker, MBA liked Stephen Pringle's discussion Seller taking an offer before it hits MLS
Cliff Stanwick replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"Basically you can have a serious issue of fiduciary responsibility in dual agency. See the California Dept of Real Estate Bulletin
http://www.dre.ca.gov/pdf_docs/Article_ShortSales03_2010.pdf
Another…"
Julissa Jumper replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"That would be my same point. How is it filling my pocket to be a dual agent? If I have a seller and I have a buyer I am going to make a commission from each sale. So, if I bring the 2 together and sell my own listing did that increase my earnings to…"
"The short sale approval system is a JOKE. It takes 3+ months to get approved (if approved). In most markets the values are going down. After being in the system for a month you are told to add street or avenue to the address have all parties…"
Stephen Pringle replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"Thanks. It makes me feel good that there are other agents that get the big picture. "
"Beautifully stated! An agent who believes in professional ethics!!
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Donna McClelland replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"Stephen,
You have a lot of integrity and I agree with you wholeheartedly. If everyone in our industry practiced your ethics, the industry as a whole would have a much better reputation!
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Mary Funderburg replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"That's awesome, you know what your doing! :)
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Mary Funderburg replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"In my experience they only require that we have put it on the MLS, reduced or raise the price to match the purchase contract and that's it. It does have to be active on the MLS, but not for any significant period of time,"
Jeff Payne replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"OK, here is the story of the one double sided short sale that I did...... Keep in mind that everything was fully disclosed.
I get a call from a buyer who was referred to me by a previous short sale seller. They knew she was going to buy…"
Jeff Payne replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"Thanks for your contribution Smitty.."
Jeff Payne replied to Stephen Pringle's discussion Seller taking an offer before it hits MLS"George, I want to apologize for letting this get off topic. There were way too many assumptions being made and the one that that I hope we can agree on is that each and every short sale is completely different. Each seller has different…"
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