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What fraud? The agent was hired to sell the home. What makes you believe it is way below market value? I am assuming that you lost out on the home because it went under contract ASAP. What is happening over and over again? Has it been on and off the market several times?
If the selling agent finds a buyer and the seller agrees to the terms, I don't see any issues with it. If it is way under market value, the bank will most likely reject or counter offer the buyers offer.
Fraud is a pretty strong word.
Kathy Manoogian said:
If the property is listed way below market value, and sold the same day, and it turns out the listor and selling agent are one and the same, and it happens over and over again, with the same agent, you dont smell fraud?
I think you have a very legitimate question Kathy,and I believe most of the responses are spoken like a true-realtor, which is why I have very little respect for "most" realtors - they're all about transactions/commissions. I think the real estate industry is rife with lack of transparency and that is by design - though its changing so people will need to get over it. Interesting that all the responses thus far have been unwilling to recognize that there may be scenarios where manipulation was involved.
Richard. Go back and read the question. It is not illegal for a property to be on the market for a short period of time. A property needs to be on the market long enough to find a good qualified buyer at as close to market value as possible. That could be 1 hour or it could be a year. Time has nothing to do with it and it's certainly not dictated by law. Your response has nothing to do with the question asked.
This site is about as transparent as you can get. We designed it that way. Its the reason it's open to all and not just agents. We even welcome folks that are clearly anti agent. So.....welcome :)
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