SELLERS WANT TO DO A POCKET LISTING OR BUYERS LOOKING FOR A POCKET LISTING BEWARE STOP DONT

Dated: 09/08/2014

Views: 536

I wrote the other day about dual representation where one agent represents the buyer and seller it is allowed but it is BAD!!! Same here with pocket listings Bad, stay away from both sides of the transaction. This is one fantastic article, written in CONSUMER ADVOCATES IN REAL ESTATE  THe article is called  NATIONAL CONSUMER ALERT - AVOID POCKET LISTINGS  --- http://www.caare.org/PocketListings                                                                                           
                                  

There are so many reasons why the California Association of Realtors should read this article and out law the practice, so many opening for fraud, not having full disclosures and not having it presented to the public so market conditions dictate the sale not the brokers. Need to protect the owner many ways to do this without doing a pocket listing. "Another important fact about pocket listings is that they always result in dual agency. The term is a misnomer in that dual agency is really no agency at all."  So we now have a double header of DO NOT DO's
                                                        
"Pocket listings are just one more example of a market manipulation designed to hurt consumers and double the pay to brokers. Consumers should never agree to pocket listings and should walk away from any agent who suggests that they should consider it." --- well said
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Robert Schmalz - BRE 01813025

DBA "West Los Angeles Real Estate Group" ....

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