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Do real estate brokers use impossible short sales to get new business?

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Question by Dilbert: Do real estate brokers use impossible short sales to get new business?
They want people to sign up to use them as buyer’s agent, so why not motivate those people with impossible short sales, and try to sell them other property while they wait forever for the short sale to be approved?

How common is that?

Best answer:

Answer by Ed Atun
Yes, this is happening. In many cities there are 50,000 realty agents and only 4,000 sales each month. Agents are anxious to stir up any business. Just to get thru the bad times.

What do you think? Answer below!

hardcore love
short sales

Image by jodigreen
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Yes, yesterday was a "snow day" and today I wore shorts. I did still need a wool cardigan though.

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  • Judgment CARE

    If you believe that a real estate agent is treating you unfairly you should complain fist to his broker. If you still are not satisfied you may want to complaint to the state.

  • OldJimmy

    Very common, given the number of agents out there now and the shortage of qualified buyers.

    I’m not sure I can see what the problem is, though. If they direct you to a home you like at a price that appeals to you, what difference is it whether or not a short sale is involved? Short sales are actually quite a pain in the posterior to the potential buyer; most of them end up going to foreclosure anyway because buyers make ridiculous offers and all your work and waiting is down the drain.

  • Realtoratheart

    Frankly, if the situation is hopeless, why on earth would any agent want to spend time and money when they know they will not get a return on their investment? If the house does sell short, the chances of these folks getting another mortgage anytime soon, is small. Even a short sale impacts their credit. I don’t take listings just for the fun of it! I need to know I have some hope of making money.

  • Donald

    Short sales are a reality for owners who own more than their property is worth.

    You should keep in mind some points while choosing a real estate agent like price, reputation and experience.It will be help you…

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