Bidding Wars on Homes should be Against the Law or Bids (Disclosed)

By
Real Estate Agent with Realty ONE Group 65491

Multiple Offers

 

Multiple Offers on Homes & Real Estate have been around for a very long time, and Bidding Wars continue to plague America ...

I closed on a home and with a client several weeks ago and yes there was a Bidding War involved. My client and I "Won" the War going up against 20 other so called client's offers.

Why are Multiple Offers not Disclosed?

Multiple Offers and Bidding Wars is like purchasing a product on EBAY, there is no way to know who is on the other side of the fence bidding against you.

When people go to Public Auctions for Homes, Cars and other items, any person or persons making bids are there, you can see them ... you know who your bidding against ... 

But Multiple Offers on Homes ... well there could be Brokers, Agents, Bank Employees, Investors and just about any Tom, Dick or Harry making offers just to "Jack" the price for the BANK or Property Owner.

There is no Proof of these offers because you can not see them, which in turn makes this type of Real Estate Business just plain "CROOKED" ... ;o(

Shame on the Banks, Shame on the Real Estate Divisions, Shame on the United States Government, Shame on the Brokers/Agents, Shame on the Investors and Shame on everyone connected to this UNLAWFUL Acts of GREED ... and CROOKEDNESS ... 

YOU ALL BELONG IN JAIL!

I am working with some clients at the moment that are purchasing homes in very high price brackets, they are paying CASH and will (NOT) for any reason play the Bidding War Game or purchase a home from any BANK ...

Vegas Bob has educated them and they are loving me for my knowledge ;o)

And Vegas Bob would like to ask all these crooks a question! How do you sleep at night knowing your involved in this?

"YOU DISGUST ME"


Banksters of America

Please note: The photos or diagrams were not done by Robert Swetz ...

 

Posted by

Robert "Vegas Bob" Swetz  

Direct: 702.443.7156      

If you are interested in Investment Properties in Las Vegas and the State of Nevada I can help you with all your needs.

Las Vegas continues to be a very fast growing city with some great opportunities for employment, retirement and much more. Las Vegas is surrounded by many other places & cities of interest like Lake Mead, Salt Lake City, Zion National Park, Arches National Park, Grand Canyon, Los Angeles, Laguna Beach, Huntington Beach, Monterey Bay, Carmel, San Francisco, Newport Beach, San Diego, Reno, Phoenix, Yosemite National Park, Lake Tahoe and more.

"Have a Wonderful Day"

VIDEOS BY VEGAS BOB

Robert (Vegas Bob) Swetz

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Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks Vegas Bob, it about time somebody said it!!!  

I buy a lot of houses, but the minute it becomes a bidding war, I say "I am out", if I someone else wants to waste their cash on a war rather than a well thought out business plan then that is their problem, but I wont participate.

Now when I am ready to start liquidating, I hope all these hot headed bidders still have some money to waste, but they may be broke by then.

Jun 18, 2012 04:22 PM #1
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Bob ... thanks for stopping by and you are very smart ... ;o)

Vegas Bob

Jun 18, 2012 04:27 PM #2
Rainmaker
1,770,255
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

It does seem a little crooked VB, glad that you had the guts to speak out.

Jun 18, 2012 05:13 PM #3
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3,201,131
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Wow....yes, I am always asked how can we be sure there are other offers when that is what we are told?  You just gotta believe it I guess..hopefully those of us honest ones make up more than the dishonest ones!

Jun 18, 2012 11:33 PM #4
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Tom ... thanks for stopping by and a more than a little crooked, I believe there are professionals connected to these listings that work on bringing the bids up with conversations over the phones and through emails with certain words to bring the offer up as high as they can.

And Kristin .., There are some honest people in the Real Estate industry and some dishonest, how can we know who is being honest or not?

VB ;o)

Jun 19, 2012 01:19 AM #5
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407,272
Randy Ostrander
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI

Good morning Bob. I couldn't agree with you more. Foreclosure companies and their agents have threw out any sense of ethics and play a whole new game. One I had held my offer for a week waiting for another offer so they could play the highest and best game. The disgust me as well.

Jun 20, 2012 11:03 PM #6
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Randy ... I commented on my post that brought you to this one and "Bidding Wars" should be against the law in the Real Estate industry, it is so crooked and always will be crooked ... ;o(

VB ;o)

Jun 20, 2012 11:09 PM #7
Rainmaker
415,037
Tni LeBlanc, Realtor®, J.D.
Mint Properties, Lic. #01871795 - Santa Maria, CA
Tenacious Tni (805) 878-9879

Hi Vegas Bob!

I do think this is a game.  Unfortunately, if I opted out of playing it, I wouldn't have sold any houses as a buyer's agent in the last couple of years!  I look forward to the day when we have enough inventory to steer clear of the foreclosure madness.  I use escalation clauses and make them subject to proof of the next highest offer.  It cuts through a lot of the games...

Love it... Banksters of America. Priceless.

Tni

Jun 23, 2012 05:23 AM #8
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Hey VB, I just clicked on your Banksters of America logo and was pleased to get another laugh, where did you get all the Alien photos, is Vegas trying to compete with Roswell for the galactic tourist dollars?

Keep posting the great blogs.

Bob

Jun 23, 2012 10:11 AM #9
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Tni ... thanks for stopping by and yes ... Banksters ... ;o)

And Bob ... believe it or not but most of the UFO wreckage & ET bodies are at AREA 51 ... even the Roswell crash so that actually puts AREA 51 above Roswell for UFO/Alien History and Artifacts.

VB ;o)

Jun 23, 2012 03:00 PM #10
Anonymous
angela adams

THANK YOU for posting this!! I am a Realtor in the state of Tennessee and I am so TIRED of the highest and best game. The bottom line is: it is  CROOKED. The listing agent simply tells their buyer WHAT the highest and best amount is so they come in slightly hire and win the property. This doesn't happen on all deals, but more than not, it happes all the time. I sell REO and I've even had selling agents bride me with cash under the table to "insure" their offer was the highest and best. It's not only pathetic, but sad. It's very very crooked, it should be illegal, and im ready to put a STOP to it. if there's mulitple offers, the seller should only be allowed to counter ONE offer and then allow a second offer a back-up position. That's how it use to be and that's how it should be today! Why are we bending over for these banks??? With our economic position right now, the last thing we should be doing is allowing banks, hedge funds, private equity fund firms, or any other RE seller for that matter "special treatment".  Life isn't fair, but there is such a thing as laws and ethics, and bidding wars should be against the law.

Feb 21, 2013 01:00 PM #11
Anonymous
angela adams

higher**

excuse the typos!

Feb 21, 2013 01:03 PM #12
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Well hello Angela Adams and you are very welcome! The "Bidding Wars" in Las Vegas Nevada raised the values of homes around 17% and these homes are not worth anymore today then last year!

It was just a great way for BANKS, etc. to rip the home buyers off more ;o(

Vegas Bob

Feb 21, 2013 01:30 PM #13
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