[quote=CA renter][quote=jpinpb]I abhore when it’s an inside job and sells the day of list or before it’s even listed. If it’s on the market for a while and someone contacts the LA and makes an lowball offer that gets accepted, good for them.[/quote]
Exactly.
As long as all buyers have the same chance, then it’s a legitimate transaction. This is why all buyers should feel free to “lowball.” It’s the only way you’ll know whether or not something can sell for your price (which just might be “market price,” in the land of delusional sellers).[/quote]
But there in lie the problem. Most buyers don’t know that they can do that. So those who are in the know were able to get the deal. I don’t see too much difference between property going pending immediately w/ a LA playing both side and a property going pending a few month later if the end result is the buyer score a 20-30% off list price, especially if it’s well below market value. All it means is that the agent was able to find a buyer that allow him/her to play both sides at different time. I would personally jump at a 20-30% discount in a heart beat, but I won’t kid myself that it’s shady. “market price” is when the LA lower the price frequently until he/she finds a buyer at very close to final list price. Something that list for $1.1-1.2M closing for $900k with the agent playing both side looks shady to me.
