The largest agent club in Southern California is growing its membership quickly, as the erosion of the cooperation between brokers continues.
We’ll hear more about the disrupters, discounters, and consolidation, but the underlying theme is that agents are only going to be sharing their listings with one another as the last resort if they can’t sell them off-market.
The realtor groups on Facebook are bursting with off-market talk, though we don’t know how many deals are actually being done. But with so much focus on the off-market space, it is inevitable that more transactions will result.
The PLS only has five listings in San Diego, but it’s just getting started here. One of the five is an active listing on our MLS, but the rest look like they expect some off-market action as a result of being listed here:
With no one in the industry objecting, expect more of this in the future.
> With no one in the industry objecting, expect more of this in the future.
I cannot imagine consumer protection interests and more importantly; tax revenue agencies ignoring the stated goals here of non-market transactions.
I’m wondering how the agents benefit by not putting the properties on the open market if they aren’t keeping all of the commission in house
I always assumed that’s the primary goal, to keep it all in-house, with a secondary goal is closing faster. But it doesn’t make sense unless you can benefit from being on both sides, with the conflict that potentially carries.
But it is really cool! You get the badge of honor this week!
Agents never thought twice about de-frauding national banks, which is a felony. Doing an off-market deal saves marketing, open houses, phone calls, showings,etc. Who wants to do those when you can quick-sell a house and hurry up and go on vacation!!
Antitrust and RICO comes to mind, but who am I to complain?
Same thing during the short-sale era which lasted at least five years, but not a peep out of the feds.
I laid out one realtor to the FBI, with 25 pages of evidence. They didn’t do a thing.
This is smaller, because it’s one by one. And literally agents think this is the preferred way to sell homes – it never occurs to them that their fiduciary duty to the seller includes open-market exposure.