The real problem is that some of these Realtors load this low ball price (a/k/a starting bid) into the LP (listing price) field of their MLS. When doing a search if there is not any minimum price set their listing will generally be first on the list as the low price. Unfortunately, that price also propagates over into www.Realtor.com , Florida Living (FAR’s website) and all IDX systems. We started getting calls from clients off of our website to look at some of these properties. When the clients were advised these prices are not the actual listing price they were not too happy. In fact, a few wanted to file complaints.
Hopefully, our MLS association will start to police this type of unethical conduct and it will be reduced or preferably eliminated.
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