Selling short without marketing on MLS?
Have any of you had success listing short sales and selling directly to a buyer WITHOUT marketing on MLS? Not sure that all servicers and banks have the same guidelines on this. Really need your advice! Thanks in advance.
Replies to This Discussion
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Permalink Reply by Jeff Payne on
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Yes, with all of the major lenders.
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Permalink Reply by Wendy Martin on
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Jeff do you mean YES you can sell without going on MLS or YES you cannot sell without marketing on MLS?
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Meant to say yes I have sold without MLS marketing.
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We have been approached by investors who want to purchase short sales in certain areas which they would have us market to. However, they want to be the buyer on each short sale. Keeping it off MLS eliminates competition, but creates huge liability for the listing agent. Specifically, arms length, duty to seller, etc. We don't ever double-end a short sale, we would have to farm out to another agent for the buyer's side. But excluding other buyers while working for the buyer investor and sellers raises lots of red flags. The last thing we want is to get sued or lose our licenses just to get certain investor clients to work with us.
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