For house hunters that new property listing may not be so new, after all.
We all know back in late of 2006 the hot topic and ethical question was all about 're-listing' practices. Now in 2008 we are finding the topic is back. Some say "it's not fair", "it reflects badly on the property", or "the homeowner who has listed the property has no idea that such changes have taken place".
The reality of the situation is the MLS provides the entire duration of a property even if it gets a new MLS number and is "re-listed". Also only a small percentage of real estate agents are using the re-listing technique. Then there are real estate agents finding sellers and house hunters going with them due to being in a previous re-listing situation and not happy with their past agent.
Either way, currently it is up to the brokers and agents best practices. There is no significant proof of re-listing practices being an issue that will warrant a policy change or law being put in place.
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Robert: That's the advice I received from my broker when asked the question about relisting. It's up to the broker in my case.
Jun 20, 2008 02:30 AM
RE/MAX Advantage Realtors, Searcy, AR - Searcy, AR
Robert,
I wish the MLS had a seperate field for new construction. When I list new construction sometimes the footings aren't even poured. I have sold homes like that, with just the plan. Anyway, with new const. the dom are not correct, the home takes about six months to build. I wish they would address that. Good post.
Jun 20, 2008 02:38 AM
REALTOR & CEO The 3B Method Seminars - Burlington, NC
Yes, the MLS tracks the history of a listing. Thus, a good buyer's agent can see what has been done to a listing and when. At the same time, a seller's agent has their best interest at heart as well. It comes down to this: Remember who you work for and do your due dilegence for whichever party that is.
Jun 20, 2008 02:40 AM
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