Phoenix Homes Misrepresented.
June 23rd, 2008 categories: Edits, Phoenix real estate
That will be important for buyers who are looking on their own, with or without Realtor’s representation. There are currently ads on Craigslist. com now, put up by agent advertising homes for sale, stating, that the address of the property will be released to you after the advertiser received from you a signed “loyalty agreement”. “No Buyer Realtors allowed!” Nice, isn’t it. So in order to get details about the property you have to first sign a “loyalty agreement” this is most likely buyer broker agreement. That’s fine to en extent, but even with this there are issues. These could be exclusive listings, but the are not. It all goes bad from here.
For any Realtor, it will take just a minute, maximum, to identify the property on MLS, who its listed by, is it exclusive or not and its entire history, but a buyer shopper does not have that luxury. So here is the deal with these listing. They are being advertised by agents who are not the listing agent of the properties being advertised. Not only that but the listing agent do not know about this and did not authorize it. It’s wrong to advertise someone’s else listing as yours especially if you are forcing a prospective buyer to sign away to see details readily available else where. This is not like other sites where you see lots of properties form multiple agents; these disclose who the broker is.
This argues with standard of practice 12-10 of NAR’s code of ethics.
What is a “nice” way to share listings? IDX search. You may find it on many Realtors websites and I see more and more people using i.e http://realestateconfluence.com/phoenix-home-search
The IDX Program permits MLS Participants to grant and receive permission to display each other’s active listings on certain public Internet websites. Unless they opt out.
Joanna, I’ve had this happen to my own listings. It’s a terrible way to mislead the public. The person doing it in my case via craigslist wasn’t even a REALTOR. They had a REALTOR with them, when they met their prospect and showed them homes, but the craigslist advertiser herself was not a REALTOR, and was using craiglist to troll.
Steve, That sounds complicated. I am impressed how imaginative some people can be!!