I think some of the crux of what was happening on the listing, including the ‘tap dance’ by the broker.. or should we say ‘side step’ is being missed.
Banks don’t have any real experience in selling houses, their experience is with financing. If they want to move a house, they will ask the RE broker they are working with, what the comps are for that house.
Lets say the broker comes up with the ‘comps’.. and bank says to put it on the market. The deal is done inside the brokerage without giving anybody else a chance to bid.. is that ethical? Normally a broker would want to get as high a price as possible.. unless they are getting it for themselves. Their commission is a percentage of the price they get. People selling will not mind a 1 week wait for the MLS.. neither do buyers, unless they are certain the price would get bid up, possibly above what they would bid on it.
