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I just listed a house on Friday in a very hot market. I told the realtor that I wanted it on the MLS and their WEBSITE on that same day because I wanted it showing up for the weekend. The realtor agreed, and we signed the papers to list the house.
Saturday morning she called to say that we had a full price offer. She then faxed over the papers for me to sign. The papers show that we have until Monday at 5 p.m. to accept. We figured we would just wait until Monday afternoon before signing them, just in case a higher offer came in, which is very common right now in this market. However, it is now Sunday morning, and our listing is still not on the MLS.
Is it common for realtors to do this?
It almost seemed that she didn't want to list it on the MLS because she knew she already had a buyer, and could keep the whole commission, instead of possibly having to split with another realtor. While this might benefit her, it definitely stopped any other buyers from possibly submitting a higher offer.
If we had wanted her to do this, we would have just listed it with her as an exclusive listing at 3% instead of 6%. It doesn't feel like we were represented to the full extent that we should have been for 6%.
Is this legal? At the very least, it doesn't seem ethical. Any thoughts?
There are only about 4 real estate offices in the town. I think I will call them all on Monday morning and let them know it's available before we sign the papers, just in case they have any clients looking for our type of house.
having worked on the principle that the first offer is the best one, Id take. You got what you wanted for it didnt you?
