Again not sure what is dishonest that your version would be fixing.
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That it would be advertised before any purchase offer is accepted, so other potential buyers would know about the listing well before a decision is made.
That the other potential buyers would have the same information and opportunity to purchase, and so the “seller” and listing agent are not able to choose a “preferred” buyer prior to the home being made available to the general public (artificially low cost basis, enabling them to flip and split the profits).
This way, the lender is more likely to get a price that more accurately reflects market value…because all buyers have the same opportunity to purchase, and all offers are presented according to a lender’s preferences (highest price, shortest escrow, best qualified). The lender can also line-up back-up offers. Escrows can be shorter if buyers are required to get the inspection BEFORE making an offer. Sales should be made “as is” with no additional changes after the offers are made, and all offers are binding with a 5% deposit (or something of that nature).
The banks should be in charge of the entire process. Sorry, but if the “seller” isn’t losing or gaining anything, they have no skin in the game. The only entity that matters at that point is the lender (not saying those are the current rules, but they should be, IMHO).
It would be much more efficient and less open to fraud, IMHO.
