One of San Diego’s ZipRealty agents has had her home on the market for nearly 5 months. Someone I know believes that she is getting pretty far behind on property taxes, too.
It’s in her best interest to try and “pump and dump”, no?
At the very least, we need to see legislation passed which would require real estate agents to follow the same “front-running” laws that securities brokers have to follow when selling something. These laws stipulate that a stock-broker cannot sell his shares before his clients have sold theirs(especially if he believes they are going DOWN in value).
Also, disclosure laws are needed which would reveal whether an agent owns “investment” real estate that would benefit from the type of shameless “buy now or be priced out forever” behavior that has been going on for the last several years.
Used house salespeople (ahem, Realtors) need to police their own and CLEAN UP their act!
