Listings? Why aren’t they there?

[njtosd]

All the sites that I checked (Realtor.com, redfin.com, SDLookup.com) still list homes even when they are contingent, so that doesn’t seem to be the problem. And my understanding was that once a house was listed with a realtor, the realtor was required (either by listing agreement, ethical rules or something else) to get it up on the MLS as quickly as possible (assuming that the seller wanted it done that way). In this market, I can’t understand why a seller (or seller’s agent) wouldn’t want the exposure . . .

[XBoxBoy]

[quote=njtosd]All the sites that I checked (Realtor.com, redfin.com, SDLookup.com) still list homes even when they are contingent, so that doesn’t seem to be the problem.[/quote]

SDLookup does not list them once they are pending. (They do list contingent though. And in case you’re not aware, contingent and pending are different)

[quote=njtosd]And my understanding was that once a house was listed with a realtor, the realtor was required (either by listing agreement, ethical rules or something else) to get it up on the MLS as quickly as possible (assuming that the seller wanted it done that way). In this market, I can’t understand why a seller (or seller’s agent) wouldn’t want the exposure . . .[/quote]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.

[XBoxBoy]

[quote=njtosd]All the sites that I checked (Realtor.com, redfin.com, SDLookup.com) still list homes even when they are contingent, so that doesn’t seem to be the problem.[/quote]

SDLookup does not list them once they are pending. (They do list contingent though. And in case you’re not aware, contingent and pending are different)

[quote=njtosd]And my understanding was that once a house was listed with a realtor, the realtor was required (either by listing agreement, ethical rules or something else) to get it up on the MLS as quickly as possible (assuming that the seller wanted it done that way). In this market, I can’t understand why a seller (or seller’s agent) wouldn’t want the exposure . . .[/quote]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.

[XBoxBoy]

[quote=njtosd]All the sites that I checked (Realtor.com, redfin.com, SDLookup.com) still list homes even when they are contingent, so that doesn’t seem to be the problem.[/quote]

SDLookup does not list them once they are pending. (They do list contingent though. And in case you’re not aware, contingent and pending are different)

[quote=njtosd]And my understanding was that once a house was listed with a realtor, the realtor was required (either by listing agreement, ethical rules or something else) to get it up on the MLS as quickly as possible (assuming that the seller wanted it done that way). In this market, I can’t understand why a seller (or seller’s agent) wouldn’t want the exposure . . .[/quote]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.

[XBoxBoy]

[quote=njtosd]All the sites that I checked (Realtor.com, redfin.com, SDLookup.com) still list homes even when they are contingent, so that doesn’t seem to be the problem.[/quote]

SDLookup does not list them once they are pending. (They do list contingent though. And in case you’re not aware, contingent and pending are different)

[quote=njtosd]And my understanding was that once a house was listed with a realtor, the realtor was required (either by listing agreement, ethical rules or something else) to get it up on the MLS as quickly as possible (assuming that the seller wanted it done that way). In this market, I can’t understand why a seller (or seller’s agent) wouldn’t want the exposure . . .[/quote]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.

[XBoxBoy]

[quote=njtosd]All the sites that I checked (Realtor.com, redfin.com, SDLookup.com) still list homes even when they are contingent, so that doesn’t seem to be the problem.[/quote]

SDLookup does not list them once they are pending. (They do list contingent though. And in case you’re not aware, contingent and pending are different)

[quote=njtosd]And my understanding was that once a house was listed with a realtor, the realtor was required (either by listing agreement, ethical rules or something else) to get it up on the MLS as quickly as possible (assuming that the seller wanted it done that way). In this market, I can’t understand why a seller (or seller’s agent) wouldn’t want the exposure . . .[/quote]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.

[njtosd]

[quote=XBoxBoy]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.[/quote]

XBoxBoy –

You sound like you have some background in this, so forgive me if you know this already, but simply because agents commonly do things, it doesn’t mean that it’s legal. Like speed limits, the rules are ignored sometimes. I think the OP said that there were three houses in close proximity that didn’t seem to be on the MLS – it would seem unlikely to me that three different agents were listing houses and ignoring the rules (or following some unlikely instructions of their principles) in this market.

You will note that in my post I made a reference to what the seller (not the seller’s agent) wanted done. Since this is a real estate forum, I thought it was worthwhile to point out that the agent has a fiduciary duty to do what is in the client’s best interest (which includes a duty of obedience, loyalty, disclosure, reasonable care and diligence and accounting). It doesn’t matter what an agent does on the seller’s behalf, it’s ok as long as they have the principle’s informed consent. And it’s also worth pointing out that a seller should look into getting a release from a listing agreement if the agent refuses to honor his/her fiduciary duties.

[njtosd]

[quote=XBoxBoy]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.[/quote]

XBoxBoy –

You sound like you have some background in this, so forgive me if you know this already, but simply because agents commonly do things, it doesn’t mean that it’s legal. Like speed limits, the rules are ignored sometimes. I think the OP said that there were three houses in close proximity that didn’t seem to be on the MLS – it would seem unlikely to me that three different agents were listing houses and ignoring the rules (or following some unlikely instructions of their principles) in this market.

You will note that in my post I made a reference to what the seller (not the seller’s agent) wanted done. Since this is a real estate forum, I thought it was worthwhile to point out that the agent has a fiduciary duty to do what is in the client’s best interest (which includes a duty of obedience, loyalty, disclosure, reasonable care and diligence and accounting). It doesn’t matter what an agent does on the seller’s behalf, it’s ok as long as they have the principle’s informed consent. And it’s also worth pointing out that a seller should look into getting a release from a listing agreement if the agent refuses to honor his/her fiduciary duties.

[njtosd]

[quote=XBoxBoy]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.[/quote]

XBoxBoy –

You sound like you have some background in this, so forgive me if you know this already, but simply because agents commonly do things, it doesn’t mean that it’s legal. Like speed limits, the rules are ignored sometimes. I think the OP said that there were three houses in close proximity that didn’t seem to be on the MLS – it would seem unlikely to me that three different agents were listing houses and ignoring the rules (or following some unlikely instructions of their principles) in this market.

You will note that in my post I made a reference to what the seller (not the seller’s agent) wanted done. Since this is a real estate forum, I thought it was worthwhile to point out that the agent has a fiduciary duty to do what is in the client’s best interest (which includes a duty of obedience, loyalty, disclosure, reasonable care and diligence and accounting). It doesn’t matter what an agent does on the seller’s behalf, it’s ok as long as they have the principle’s informed consent. And it’s also worth pointing out that a seller should look into getting a release from a listing agreement if the agent refuses to honor his/her fiduciary duties.

[njtosd]

[quote=XBoxBoy]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.[/quote]

XBoxBoy –

You sound like you have some background in this, so forgive me if you know this already, but simply because agents commonly do things, it doesn’t mean that it’s legal. Like speed limits, the rules are ignored sometimes. I think the OP said that there were three houses in close proximity that didn’t seem to be on the MLS – it would seem unlikely to me that three different agents were listing houses and ignoring the rules (or following some unlikely instructions of their principles) in this market.

You will note that in my post I made a reference to what the seller (not the seller’s agent) wanted done. Since this is a real estate forum, I thought it was worthwhile to point out that the agent has a fiduciary duty to do what is in the client’s best interest (which includes a duty of obedience, loyalty, disclosure, reasonable care and diligence and accounting). It doesn’t matter what an agent does on the seller’s behalf, it’s ok as long as they have the principle’s informed consent. And it’s also worth pointing out that a seller should look into getting a release from a listing agreement if the agent refuses to honor his/her fiduciary duties.

[njtosd]

[quote=XBoxBoy]

There is an option for the realtor to check that signals this listing is NOT to be put on the internet. That could be because the agent prefers to find a buyer and thus get both halves of the commission, or because the agent doesn’t want to hassle with internet shoppers (wanting instead buyers represented by other agents) or because the seller doesn’t want the fact they are selling or the info about the listing to be publicly available. At other times agents don’t list on the mls at all, (so called pocket listings) in hopes that they can get both sides of the deal.

While I agree that it would be in the sellers interest to have the listing out on the internet as soon as possible, I’ve seen/heard lots of things done/said that are not in the seller’s interest by their agents.[/quote]

XBoxBoy –

You sound like you have some background in this, so forgive me if you know this already, but simply because agents commonly do things, it doesn’t mean that it’s legal. Like speed limits, the rules are ignored sometimes. I think the OP said that there were three houses in close proximity that didn’t seem to be on the MLS – it would seem unlikely to me that three different agents were listing houses and ignoring the rules (or following some unlikely instructions of their principles) in this market.

You will note that in my post I made a reference to what the seller (not the seller’s agent) wanted done. Since this is a real estate forum, I thought it was worthwhile to point out that the agent has a fiduciary duty to do what is in the client’s best interest (which includes a duty of obedience, loyalty, disclosure, reasonable care and diligence and accounting). It doesn’t matter what an agent does on the seller’s behalf, it’s ok as long as they have the principle’s informed consent. And it’s also worth pointing out that a seller should look into getting a release from a listing agreement if the agent refuses to honor his/her fiduciary duties.

[SD Realtor]

Yes the agent does have a fiduciary obligation however that agent does work for and is employed by the seller. The obligation implies that the agent shall advise the seller, however the agent cannot make decisions that are against the wishes of the seller. I think your assumption about the agents ignoring the rules is incorrect.

Think about it…. why would ANY agent not want maximum exposure for a listing. Try to understand, agents make money on the churn and holding a home off the MLS makes no sense.

********

Let’s think about the possibilities.

First off when an agent takes a listing on the listing agreement the seller can instruct the agent NOT to put it on the MLS. If it is not on the MLS it will not be online anywhere. When this occurs the agent must actually send in a document to SDAR saying the home will not be on the MLS.

Second even if the agent is instructed to put the home on the MLS, when you enter the listing on the MLS there is a field that you can select to either allow or not allow the listing to be farmed out to third party providers such as Redfin, Zillow, SDLookup….In this case the listing will get MLS exposure but not third party exposure.

Third… as noted some sites will advertise contingent listings but not pending listings. Sometimes agents will actually move a listing into withdrawn status when the short sale package is being reviewed by a lender. Why? I could not tell you why, but I have seen it happen more then once. If any of these properties are withdrawn you will not see them as well.

Fourth… again, not my cup of tea but I have seen agents put a property directly into pending even though it is still contingent. Why? Could not tell you but I have seen it happen. I have had buyers I work with instruct me to ASK the sellers to put the property into pending status on a short sale rather then contingent status as well simply to help reduce the amount of backup offers that short sale may receive.

*****************

The bottom line is that it is VERY easy for you to find out if your thoughts are true or not. You can list the street name here and any of us can call the listing agents to see and find out the truth, or you can ask your realtor to call and find out. I know it is always easiest to blame the realtors but perhaps doing a bit of legwork prior to throwing out blame would be justified.

[SD Realtor]

Yes the agent does have a fiduciary obligation however that agent does work for and is employed by the seller. The obligation implies that the agent shall advise the seller, however the agent cannot make decisions that are against the wishes of the seller. I think your assumption about the agents ignoring the rules is incorrect.

Think about it…. why would ANY agent not want maximum exposure for a listing. Try to understand, agents make money on the churn and holding a home off the MLS makes no sense.

********

Let’s think about the possibilities.

First off when an agent takes a listing on the listing agreement the seller can instruct the agent NOT to put it on the MLS. If it is not on the MLS it will not be online anywhere. When this occurs the agent must actually send in a document to SDAR saying the home will not be on the MLS.

Second even if the agent is instructed to put the home on the MLS, when you enter the listing on the MLS there is a field that you can select to either allow or not allow the listing to be farmed out to third party providers such as Redfin, Zillow, SDLookup….In this case the listing will get MLS exposure but not third party exposure.

Third… as noted some sites will advertise contingent listings but not pending listings. Sometimes agents will actually move a listing into withdrawn status when the short sale package is being reviewed by a lender. Why? I could not tell you why, but I have seen it happen more then once. If any of these properties are withdrawn you will not see them as well.

Fourth… again, not my cup of tea but I have seen agents put a property directly into pending even though it is still contingent. Why? Could not tell you but I have seen it happen. I have had buyers I work with instruct me to ASK the sellers to put the property into pending status on a short sale rather then contingent status as well simply to help reduce the amount of backup offers that short sale may receive.

*****************

The bottom line is that it is VERY easy for you to find out if your thoughts are true or not. You can list the street name here and any of us can call the listing agents to see and find out the truth, or you can ask your realtor to call and find out. I know it is always easiest to blame the realtors but perhaps doing a bit of legwork prior to throwing out blame would be justified.

[SD Realtor]

Yes the agent does have a fiduciary obligation however that agent does work for and is employed by the seller. The obligation implies that the agent shall advise the seller, however the agent cannot make decisions that are against the wishes of the seller. I think your assumption about the agents ignoring the rules is incorrect.

Think about it…. why would ANY agent not want maximum exposure for a listing. Try to understand, agents make money on the churn and holding a home off the MLS makes no sense.

********

Let’s think about the possibilities.

First off when an agent takes a listing on the listing agreement the seller can instruct the agent NOT to put it on the MLS. If it is not on the MLS it will not be online anywhere. When this occurs the agent must actually send in a document to SDAR saying the home will not be on the MLS.

Second even if the agent is instructed to put the home on the MLS, when you enter the listing on the MLS there is a field that you can select to either allow or not allow the listing to be farmed out to third party providers such as Redfin, Zillow, SDLookup….In this case the listing will get MLS exposure but not third party exposure.

Third… as noted some sites will advertise contingent listings but not pending listings. Sometimes agents will actually move a listing into withdrawn status when the short sale package is being reviewed by a lender. Why? I could not tell you why, but I have seen it happen more then once. If any of these properties are withdrawn you will not see them as well.

Fourth… again, not my cup of tea but I have seen agents put a property directly into pending even though it is still contingent. Why? Could not tell you but I have seen it happen. I have had buyers I work with instruct me to ASK the sellers to put the property into pending status on a short sale rather then contingent status as well simply to help reduce the amount of backup offers that short sale may receive.

*****************

The bottom line is that it is VERY easy for you to find out if your thoughts are true or not. You can list the street name here and any of us can call the listing agents to see and find out the truth, or you can ask your realtor to call and find out. I know it is always easiest to blame the realtors but perhaps doing a bit of legwork prior to throwing out blame would be justified.

[SD Realtor]

Yes the agent does have a fiduciary obligation however that agent does work for and is employed by the seller. The obligation implies that the agent shall advise the seller, however the agent cannot make decisions that are against the wishes of the seller. I think your assumption about the agents ignoring the rules is incorrect.

Think about it…. why would ANY agent not want maximum exposure for a listing. Try to understand, agents make money on the churn and holding a home off the MLS makes no sense.

********

Let’s think about the possibilities.

First off when an agent takes a listing on the listing agreement the seller can instruct the agent NOT to put it on the MLS. If it is not on the MLS it will not be online anywhere. When this occurs the agent must actually send in a document to SDAR saying the home will not be on the MLS.

Second even if the agent is instructed to put the home on the MLS, when you enter the listing on the MLS there is a field that you can select to either allow or not allow the listing to be farmed out to third party providers such as Redfin, Zillow, SDLookup….In this case the listing will get MLS exposure but not third party exposure.

Third… as noted some sites will advertise contingent listings but not pending listings. Sometimes agents will actually move a listing into withdrawn status when the short sale package is being reviewed by a lender. Why? I could not tell you why, but I have seen it happen more then once. If any of these properties are withdrawn you will not see them as well.

Fourth… again, not my cup of tea but I have seen agents put a property directly into pending even though it is still contingent. Why? Could not tell you but I have seen it happen. I have had buyers I work with instruct me to ASK the sellers to put the property into pending status on a short sale rather then contingent status as well simply to help reduce the amount of backup offers that short sale may receive.

*****************

The bottom line is that it is VERY easy for you to find out if your thoughts are true or not. You can list the street name here and any of us can call the listing agents to see and find out the truth, or you can ask your realtor to call and find out. I know it is always easiest to blame the realtors but perhaps doing a bit of legwork prior to throwing out blame would be justified.

[Author]

Posts