The grifting at the San Diego Association of Realtors continues to unwind, and as a result, I have switched back to being a member at the North San Diego County Association of Realtors.
Rob wrote a blog post about the original swindler, Mike Mercurio, who embezzled over a million dollars while being CEO of the SDAR. His article caused insiders to respond to him with even more details, including the involvement of Mercurio’s replacement Cory Sheppard, who used to be the general manager of Coldwell Banker West.
And then when you think it couldn’t get any more slimy, it turns out that Cory still feels for CB. Rob asks:
Furthermore, in the video, you say to Peter Mendiola, President of Coldwell Banker West, that you want to do everything you need to do to support him and CBW and its agents over an “extended period of time.” To which Peter adds, “Like forever?” And you both laugh… seemingly in agreement… then you add, “For as long as you want.” Would you clarify to your members who are not with Coldwell Banker West how they should understand that statement? How can they be assured that there will be no favoritism shown to your former company and former agents since you agreed to do everything you can to support them “for as long as you want” which might in fact be “forever”? And how can your members trust you given the fact that this video was sent to CBW agents on May 2nd, while the rest of the membership didn’t know jack diddly until August?
The situation reeks of favoritism and outright theft, and you would think that criminal charges should be forthcoming. In the meantime, I’m not going to have anything to do with them.
If you have any insider information, contact Rob. Here is his latest blog post on the subject with one bombshell after another:
https://notoriousrob.substack.com/p/questions-for-cory-shepard-sdar-car
Hi Jim, interested in your take here. This house has been on and off market for last 6 months. Priced significantly below market. Out of area agent. Never responded to my enquiries.
Finally the new “refresh” last week, someone from office claimed it was his listing and would get me into see it. When I asked for a particular day, they then said it was a fellow agent in his office, it just went under contract, was a foreclosure and he’d love to show me other homes.
Isn’t that illegal bait and switch?
Clearly selling to inside job?
Why would bank hire out of area realtor to rep?
Why would current owner not list and sell before foreclosure (wouldn’t have been a short sale at market)
https://www.zillow.com/homedetails/743-Terra-Nova-Dr-Chula-Vista-CA-91910/17140319_zpid/
Was thinking of calling you to represent me as buyer and would’ve paid list in cash, but had a hunch it was all a waste of time.
When you see this in the regular remarks, then yeah it’s most likely a waste of time – they are just plain running you off:
NO TRESPASSING. DO NOT DISTURB ANY OCCUPANTS It is a criminal offense to trespass on this property.
Plus, another tip:
The buyer-agent commission is published on every search portal. When you see a commission that is less than 2.5%, it is a message from the listing agent to everyone involved that they don’t respect what buyer-agents do, and they are deliberately discouraging their participation.
When you see a 2% commission or less, it’s not because they are splitting their commission 50/50. They are taking more – usually it’s 3.5% to 5% to them. (they were offering 1% to buyer-agents in your example).
Thanks Jim. Yeah the
NO TRESPASSING. DO NOT DISTURB ANY OCCUPANT
Did strike me as odd (it was there for all incarnations of listing last 6 months).
Most likely they had an inside buyer ready to go but needed to make it appear it was offered on open market?
There’s no watchdog to police these shinnanigans?
I’ve found that I as grow older and have more ability to invest in more RE, these games make it more and more likely that it’s just not worth the hassle. As a youngen with limited resources, I put up with the nonsense.
Wonder if there’s some opportunity to bridge the gap for affluent