So You Think Property is For Sale but it's Not

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

Author: Patricia Feager, 2/11/2018

 

BUYER SAYS

I found a house I really like, can you show it to me? 

Buyer's Agent says, "It is already under contract."

 

WHY DO HOUSES SAY THEY ARE FOR SALE WHEN THEY ARE NOT? 

 

  • The only reliable source is the MLS.
  • Only licensed Agents (members of MLS) have local MLS access.
  • Licensed Agents don't have control over updating syndicated websites.
  • Other sources may or may not be up-to-date or current.
  • Property may have sold but once it's out there, it may be there forever.
  • Property may be off the market, status in MLS changed but not elsewhere.
  • A Relocation Company may instruct Agent not to change status until closed.
  • Property could be owned by the Bank. It doesn't close until it closes.

 

WHY DO SOME AGENTS CONTINUE TO SHOW WHEN IT'S UNDER CONTRACT

 

  • Property may be in the Option Period - Buyer has options per the contract.
  • Property hasn't received final clear to close by Lender.
  • Contract has a contingency which gives Buyer and/or Seller options.
  • Seller may want Back-Up Offers - SELLERS WORK FOR THE SELLER
  • Listing Agenty may want to pick up prospective Buyers.

 

IN TEXAS WHO SHOULD THE BUYER TRUST

  • Buyer's Agent - They work for the Buyer.
  • Buyer's Agent - They work for free unless there's a fee Disclosure
  • Broker for the Buyer's Agents.
  • TX licensed Agent who is a member of the MLS

 

 

 

Posted by

Texas Law requires all license holders to provide the Information about Brokerage Services form to prospective clients.

Real Estate Commission Consumer Protection Notice  

 

 dfw fine properties

 

DFW FINE PROPERTIES

                                        2900 W Southlake Blvd, Suite 180
                                        Southlake, TX 76092
                                        Office: 817-748-4800/FAX: 817-748-4900

                                         Patricia Feager
                                                        Cell: 469-449-9858

                                                        TEXT: 469-951-4758

 

CERTIFICATIONS
Certified Pricing Strategies; Mastering the CMA
Certified Military Relocation Specialist
Certified Negotiation Expert
C
ertified RE Probate Specialist

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

   

 

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Rainmaker
457,511
Pat Starnes, Brandon, MS
Front Gate Real Estate - Brandon, MS
Front Gate Realty ~ 601-991-2900 Office

I find myself explaining this to almost every buyer. They find something for sale on the internet and naturally think it's the one. I have one buyer who refers to one of these other websites as "Willow". It makes me smile to hear them refer to finding something on Willow that is no longer or sale or has inaccurate information. :) It is ALWAYS best to trust the BUYERS AGENT when it comes to whether or not a property is still available.

Feb 13, 2018 07:46 AM #22
Rainmaker
1,714,468
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Willow! Pat Starnes, Brandon, MS - LOL! Though I can't stop laughing, it really is no laughing matter to know consumers are being duped with erroneous information. I even caught "Willow"make errors on a listing of mine. When I tried to call, they didn't answer. Yet, my seller got them to pick up and they fed my client a pack of lies. It was a scandal I couldn't prove. 

TRUST is a something consumers deserve!

Feb 13, 2018 07:51 AM #23
Rainmaker
457,511
Pat Starnes, Brandon, MS
Front Gate Real Estate - Brandon, MS
Front Gate Realty ~ 601-991-2900 Office

I don't think I've tried to call Willow to correct the information. I can imagine it's difficult to make your point with them. 

Feb 13, 2018 08:18 AM #24
Rainer
353,035
Jim Cheney
Saint Francis Property Santa Rosa, CA - Santa Rosa, CA
Rincon Valley Realtor 707.494.1055

Very nice Patricia Feager .  It can be confusing for the average person on the street to understand all the status information found about a home. The best advice is to solicit a knowledgeable Texas real estate agent like yourself to guide them through buying. 

Feb 13, 2018 10:40 AM #25
Ambassador
3,581,509
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Patricia

Great explanation of how things work in Texas. I suspect there are many buyers who are confused about how the MLS and all the portals work, and the inconsistencies we see. It's frustrating for all of us, especially when you suspect some game-playing.

Jeff

Feb 14, 2018 07:43 AM #26
Rainmaker
1,714,468
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jeff Dowler - Finding listings that are obsolete or incorrect is very frustrating and I can understand where consumers are coming from. Many people don't understand the intricacies inside the IT world and all the portals and how they work. Personally, I think school curriculums need to change to keep up with all the changes. Perhaps by the time the little ones are old enough, there won't be such a thing as SPAM and hacking. 

Feb 14, 2018 08:49 AM #27
Ambassador
3,301,789
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Patricia- I can see why this might be confusing for buyers. They see something on the internet and feel it must be true.  And then they can't understand why they can't see the property. 

Feb 17, 2018 03:23 PM #28
Ambassador
3,301,789
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

               

                          Thank you Patricia Feager 

Feb 17, 2018 06:15 PM #29
Rainmaker
3,001,001
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Patricia. This is wonderful, well written and precise. I love the quote too.

Feb 18, 2018 04:20 AM #30
Rainmaker
2,646,551
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Patricia. As transparency lets everyone know what is happening, they are often not up to date. That can anger many! Enjoy your day!

Feb 18, 2018 05:18 AM #31
Rainmaker
1,358,067
Mike Cooper
Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Sales Pro

Patricia, I should save this and send it to buyers. I get multple calls a week for homes that are under contract, closed or off the market for years in some cases. 

Feb 18, 2018 06:47 AM #32
Ambassador
3,581,509
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Patricia

I just had this issue come up, again, the other day. It’s certainly a problem at times in this market. Great post for getting the word out.

Jeff

Feb 18, 2018 12:00 PM #33
Ambassador
2,934,037
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Spoken like an agent that has dealt with the neverending torment of inaccurate data online.  It is so frustrating for our buyers.  

Feb 18, 2018 02:38 PM #34
Rainmaker
76,610
Walt Fish
Bay Area Home Inspection, LLC - Marquette, MI
Upper Michigan's Most Experienced Home Inspector

Yes, and the inaccurate data on line is often from the official MLS. No excuse for that. I've seen homes listed as available on the MLS  2 moths after they has an accespted offer, sometimes even after the closing.

 

Feb 19, 2018 06:25 AM #35
Rainmaker
1,714,468
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Walt Fish - In my market area agents can report it to the MLS and let them handle it, but it helps if there is proof. If proven guilty, Agents will get a violation notice and depending on situations, there may be financial consequences too. 

But with multiple offers in a hot market, it's so hard to prove; yet the seeds of doubt are rapidly sown and cast in the minds of other agents. 

Feb 19, 2018 06:42 AM #36
Rainmaker
1,714,468
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Wayne Martin - I like to watch Shark Tank and there is one character on that show referenced as Mr.Wonderful; however, I can't agree.

Nevertheless, here on ActiveRain I consider you to be a truly great Mr. Wonderful, someone who knows about transparency, and how the market shifts. Plus you operate your business with integrity, exactly as it should be managed. Thank you for your presence here on ActiveRain.

May you receive more random acts of kindness than the average person because you're simply above average. 

Feb 19, 2018 06:48 AM #37
Rainmaker
1,714,468
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Chris Ann Cleland - For all the shenanigans that goes on in this world, regardless of profession, it is always a pleasure to work with agents who you know, like and trust. In the ideal world (which is impossible) it would be wonderful if buyers always chose the listings listed by agents we enjoy working with. Cringing, waiting in suspense, feeling doubt is always unsettling.

Feb 19, 2018 07:04 AM #38
Rainmaker
1,714,468
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

 

Mike Cooper and 

Jeff Dowler - It really doesn't matter where an agent is licensed, which state, or how long they have been in this business, the problem, as discussed, is chronic and very irritating, don't you think?

This situation always reminds me of early June in Maine, feeling great to be out in the wilderness and then just when you think everything is perfect, those no-see-ums come along and there's nothing you can do to make them go away. There's an annoying permanency on syndicated websites that drives us crazy. If only our membership benefits included MLS protection and gave us more control of our own listings.... It's kind of like cyber highway robbery that has no consquences and it's very disruptive when it can't be stopped. 

 

Feb 19, 2018 07:15 AM #39
Ambassador
1,680,558
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Patricia Feager  most people understand when it is explained but then you have the nasty demanding people who only want to hear what they want to hear

Feb 19, 2018 03:02 PM #40
Rainmaker
2,458,658
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Those darn inaccurate listings in Z & T Patricia Feager and the public is continually disappointed...

Mar 14, 2018 07:08 PM #41
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