Within a 24-hour period…..
1. The short sale investor allegedly involved as the middleman in two sales (that I thought looked like fraud) revealed his transactional practice here,
2. I heard of an REO listing agent who owns a separate company which is purchasing the plum REOs assigned to him, and…
3. I saw another where the listing agent kept a $800,000 sale in-house (no open market exposure) so the company made both sides of the commission – a practice which apparently has management approval.
The waters have always been full of sharks, how can you keep up? Don’t let them get you down:
Jim,
You know my range and roughly what I’m looking for. If this is the game banks want to play you can use my info for offers.
I’m sure you’ve got other buyers willing to do the same.
Shadash,
What has your experience with JTR been? I’m sure it’s been great!
Sean,
Read this blog and develop you’re own opinion. I’m sure it will be positive.
Personally I think he’s great and I generally dislike realtors. Its refreshing to work with someone in real estate that has ethics and is honest.
I’m pretty sure “Short Sale Investor” wasn’t the only one profiting from those deals. As you said the agent got both commissions. I bet the seller got a kickback of some sort too (Otherwise why would they use an agent who made no attempt to market the house?). Why would a seller/agent accept a lowball offer with nothing else to sweeten the deal?