I would agree that is it fraud as well. I have seen smaller amounts per what SDA quoted. I have not been involved in anything like that personally.
In – I agree that there are many people out there in my industry who make others look bad. I am not condoning or apologizing for the actions they take. I do not really they are doing this for the commissions like you state. More then not the people that benefit the most from this are the people who get the under the table money. It is much more of a risk for the broker to be involved with this sort of stuff. Take your 60k example. Okay so 3% of 60k is 1800 bucks. If it is large brokerage that gets cut up between the broker, agent, maybe even part of corporate. Again I do not think it is worth the risk. Again I am 100% in agreement with you that this data adds distortions to the market that are unacceptable. We just differ on why it is being done.
Please recall not to long ago on this site someone posted an idea about buying a home (and he was doing this without an agent on either side) in a manner that was not quite on the level and many on this board commented that we didn’t think it was a great idea.
I heartily agree with SDA that Sandicor should absolutely change the rules of reporting concessions in the sales price.
