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MLS Violation or What?

By
Real Estate Agent with Premiere Plus Realty Co.

 

For all of 2010 there have been 16 comparable condos sales for a little as $130,500 and as high as $177,500.

Why does a Realtor have a comparable listing in the same community, same floor plan, listed at $358,000?

Here is the Listing History:

$358,000

4/28/2010

$358,000

4/26/2010

$358,000

4/27/2009

$358,000

4/26/2009

$358,000

10/14/2008

$358,000

4/24/2008

$358,000

4/19/2008

$358,000

10/19/2007

$367,900

10/4/2007

$367,900

4/23/2007

$369,900

3/27/2007

$369,900

1/4/2007

$399,000

11/22/2006

$399,000

10/5/2006

$399,000

9/27/2006

$399,000

6/27/2006

 

As you can see, this condo has been for sale since 6/27/2006.

Is the Realtor using the client or is it the other way around?

Would this be an MLS Violation in your area?

Posted by

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Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I would suggest that obviously, the sellers do not REALLY need to sell the unit

Aug 29, 2010 05:58 AM
David L. Montgomery
MULAMONT REALTY, LLC - Pontiac, MI
David L. Montgomery

No.  Not in my area (Southeastern Michigan).  As you know sometimes sellers, notwithstanding evidence to the contrary, want agents to list their property at a price that doesn't reflect current market values.  Sometimes you take it sometimes you don't.  In this case where the ask is twice the current market; I'd walk.

Aug 29, 2010 06:03 AM
Mahesh Mike Patel
First Team Real Estate - Anaheim Hills, CA
Call Me And Consider It Done!

Seller is definately not motivated, or trying to do a short sale, loan modification, but the seller does not want to sell..

Aug 29, 2010 06:17 AM