Pocket Listings

[timd354]

Once again, there is a difference between a pocket listing and a listing kept as an office exclusive not shared with the MLS.

I agree with you as far as how the term pocket listing is used where I live, however apparently that terms has a broader meaning in some areas. In any case office exclusives are underhanded too when they are not done in the seller's best interest but are done for the purpose of the broker keeping both ends of the transaction which only a naive person would not believe is usually the case

Sales people just love to justify whatever shady practices make them the most money.

 

[Meandering]

I agree with you as far as how the term pocket listing is used where I live, however apparently that terms has a broader meaning in some areas. In any case office exclusives are underhanded too when they are not done in the seller's best interest but are done for the purpose of the broker keeping both ends of the transaction which only a naive person would not believe is usually the case

Sales people just love to justify whatever shady practices make them the most money.

Perhaps you should just stop and read the Standard Listing Agreement, available from any of your local Realtors, and see that MLS inclusion is NOT required, before you go calling anyone under handed.

Really doesn't look good coming from a former attorney.

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[timd354]

Perhaps you should just stop and read the Standard Listing Agreement, available from any of your local Realtors, and see that MLS inclusion is NOT required, before you go calling anyone under handed.

Really doesn't look good coming from a former attorney.

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Typical justification from a sales person.

I know damn well what the standard listing agreement states and I also know damn well that that sales people (including real estate brokers and agents) can often talk uninformed people into doing things that are not in their best interest.

Just because something is legal, does not mean that it is ethical and not underhanded. I know a lot of loan officers who pounded stupid borrowers for huge overages too back before 2008....that was also perfectly legal, but was completely underhanded and unethical.

People often confuse the concept of legal with ethical, which is unfortunate

 

[Artemis Fowl]

Just because a tool can be abused does not automatically mean everyone is abusing it. I'm married to someone who wouldn't. She sees shady stuff happening. Integrity does have a price...mostly seems to be paid by those who have it tho. Sad state of affairs...

 

[Meandering]

Typical justification from a sales person.

I know damn well what the standard listing agreement states and I also know damn well that that sales people (including real estate brokers and agents) can often talk uninformed people into doing things that are not in their best interest.

Just because something is legal, does not mean that it is ethical and not underhanded. I know a lot of loan officers who pounded stupid borrowers for huge overages too back before 2008....that was also perfectly legal, but was completely underhanded and unethical.

People freely chose their agents.

Agents do not have to notify anyone of anything, beyond what the state requires, and surprise, the state already decided what it requires in notifications, and it's called the Consumer Notice.

And NAR's attorneys decided what sellers need to be notified of, so they wrote the Standard Listing Agreement.

And seller's decide and check the box for the advertising they will allow.

But just keep making stuff up,

'Cause you know everything.

 

[timd354]

View attachment 34383

Looks like I hit a nerve. If you are so comfortable that you are not doing anything unethical or underhanded what are doing arguing with me about it.

 

[Meandering]

The only nerve you hit with me,
is that you are supposed to be representing the appraisal industry,

yet you called the sales side, under handed and more than a couple of unprofessional adjectives, when it was blatantly obvious you did not know what you are talking about, and did not get that hint from Sandpipper or myself.

So sad - more opinions than information, and that's the state agreement for the state you work in, and bought your house in.

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[timd354]

... and that's the state agreement for the state you work in, and bought your house in.

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blah, blah, blah...."it is legal and the state mandated the disclosures, so its okay"

I am not making a legal argument, I am making an ethical argument and it is my opinion that pocket and in-house listings are often done for the unethical and underhanded purpose of making the broker more money, not because it is in the seller's best interest. Guess what, I am not naive and I know how things work on the broker side. Additionally, a lot of real estate brokers and agents think the same thing, including some who were quoted in the Howard Hanna article that djd linked to earlier in the thread.

 

[sandpiperapp]

Gee timmy, let the bone go, you have chewed the hell out of it. And you are still looking for bad things when they are not there. In your ignorance, you are demonizing a reasonable business practice that often benefits the homeowners. You just don't know.

My guess is you will keep chewing.

 

[Meandering]

blah, blah, blah...."it is legal and the state mandated the disclosures, so its okay"

I am not making a legal argument, I am making an ethical argument and it is my opinion that pocket and in-house listings are often done for the unethical and underhanded purpose of making the broker more money, not because it is in the seller's best interest. Guess what, I am not naive and I know how things work on the broker side. Additionally, a lot of real estate brokers and agents think the same thing, including some who were quoted in the Howard Hanna article that djd linked to earlier in the thread.

Oh please.
There is the form.
The seller decides.
And every appraiser that has to analyze all listings and agreements in the past 3 years knows it too, and can see your only interest is to disparage someone; the selling side, me, doesn’t really matter to you so long as you can push AMC propaganda.

Who was the poster complaining about reviews by reviewers that have no local knowledge? Well there it is, the state forum and the chief appraiser had no clue.

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