Whether you are an Agent or a Home Buyer, you are being cheated!

By
Services for Real Estate Pros with C21 Aadvantage Gold - Short Sales & Forclosures

I thought I'd think about a catchy title to the blog as I know many of you feel the same way as I do.  I just needed your attention, because what I have to say affects us all and it is happening regularly but I feel that there is nothing a home buyer nor an agent can do about it.  This involves big real estate companies who are deceptive in their marketing practices.  Yeah, you know who they are!  They maintain an online database.  A potential home buyer calls their number which is posted on the sign and they will tell that home buyer that there is no offer on the property yet,  so they will go ahead and get their information, but in reality, they actually already have 34 offers, yet, the MLS has not been updated to reflect "multiple offer situation exists, because their online database does.  On hindsight, I did not go to their database and proceeded showing the property...but why should we be oblige to do that when MLS is supposed to be the primary source of information?

Anyway, I took my client to see one of these listings and I accidentally left the information in the car, so instead of getting it (as it was so hot outside), I went to the window and took their number from the sign and called instead.  When I spoke to the person on the other end, she assumed that I was just a client-prospect.  She told me that there was no offer on the house yet.  Silly me, I forgot to tell her I was the agent and not the home buyer.  As soon as she realized that I am the agent, I was referred to call another number. When I called and spoke to someone, I was told that there were already 34 offers in the house.  They keep a separate database.  This house was listed for many weeks already and 34 offers would not have come in in just one day.  I think that their marketing practices is very deceptive. Why would they tell people that there is no offer on the house yet, when there are already 34 offers? 

It is frustrating, but who would want to fight them?  It is too involved and GLVAR will not do anything unless you face them in a hearing and frankly as do most of us here, I do not have the energy nor the time to waste and If anyone do decide to face them, who would back you up if you do? 

The heat is very brutal here in Las Vegas.  Never mind the time, effort and your cost in bringing your home buyers to show these houses.  These home buyer are hoping that they will have a fair shot of owning the houses that are listed by these companies, but clearly they don't!  If they are told that they do not have an offer yet and the house is still available - when in fact, they already have 34 offers, what are their tryue chances? Poor, poor clients!

There is nothing that a person can do about it.  I am sure that GLVAR is aware of the situation.  I wish that they will do something about companies not posting the true status on the MLS instead of relying on their own online database.  Their database is not a part of MLS, so posting their link on the agent to agent remark should not be enough. I also wish that GLVAR will be able to design a system where all offers will go through the MLS system and no cheating, lying companies can go around showing the true status of their listings. These practices are unfair and should be monitored by GLVAR.

Would you believe when I say that these companies would prefer to sell their listings to their own clients? So if you are an agent of another company, chances are slim that you will be able to get the house for your home buyers because they will provide preferrential treatments to the ones generated from their signs? Collect all the commissions, why not?  But that would be unfair even to their own home buyers bece not only are they lying to them but also because they have not chance of getting the home and they are led to believe that they do, wouldn't it?

BUYING & SELLING HOMES IN LAS VEGAS

Glena Tupas Dee, C21 Aadvantage Gold, 614 N. Rainbow Avenue, Las Vegas, NV 89107, 702-217-5241, glenadee@gmail.com

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I represent Buyers and Sellers in Las Vegas, North Las Vegas and Henderson areas.  I am experienced in handling short sales and foreclosed home transactions.  I am not intimidated by negotiators and I have successfully negotiated "hard to close" transactions in a shorter period of time.

Call me and I promise you that you will be well-represented in your short sale negotiation(s) with your lender.

www.GlenaDee.com

 

 

Comments (3)

Jenny Durling
L.A. Property Solutions - Los Angeles, CA
For Los Angeles real estate help 213-215-4758

It'd unfortunate that such situations exists. I think we all (large brokerages included) have a duty to be honest and truthful to buyers at all times.

Jul 17, 2010 11:38 AM
William True
True Sarasota Real Estate - Sarasota, FL
Sarasota Real Estate

There are many situations when the offer and acceptance situation doesn't "smell right", but we just move on. In this market, its a sure bet that a well priced home will have multiple offers.

Jul 17, 2010 11:38 AM
Glena Dee
C21 Aadvantage Gold - Short Sales & Forclosures - North Las Vegas, NV

Thank you for the comments.  It is a shame, but things like this do exists.  It would be great if the offers are incorporated with the MLS, so that status can be automatically updated, but until is happens, I would take my business someplace else and as much as possible avoid sending my clients to listings by these Brokers. 

Jul 19, 2010 05:41 AM