There will be realtors who see this video and think, “Jim, you have it all wrong.”
“The listing agent’s duty is to the seller only, not the bank.”
But that is the short-sighted, greedy viewpoint. For agents to hide behind that simple thought, and ignore the big picture so they can pad their wallets is how we got here in the first place.
The big-picture viewpoint:
1. It’s wrong because it’s wrong.
2. To purposely cause banks to accept less than full value increases the eventual taxpayer bailout, which our children and grandchildren will inherit. If you are OK with that, you are a dirtbag.
3. To perpetuate the fraudulent activity increases the chances that banks will shut down the realtor program, and find a way to liquidate these properties without us.
4. I encourage you to sell my listings, you should allow me to sell yours. It is how the co-op realtor business was designed in the early 1960s, and should be respected – or disbanded once and for all for the kill-or-be-killed program.
If you are a realtor and still have a problem with this, then submit your name and license number with your comment so I can turn you in too: