patrick.net

Glad more people are figuring this out.

Another piece of advice: Don't try to claw commission back from the listing agent since they are getting "double." Keep him/her working for you by thinking with their wallet.

If you don't offend them, it is likely they will favor your offer over all others.

I did this and it worked out great.

Seems like it would be very easy for a buyers agent to contact the bank and ask why an offer submitted by their client was not selected over the chosen offer. Eventually the known sales price will be disclosed, so I'm just wondering how a listing agent could possibly get away with not showing an offer to a bank.

I 100% believe this happens,

Perhaps banks don't respond to these types of requests from realators? Are these "losing" realators just viewed as bitter?

Thanks

I once used a listing agent on a short sale. She volunteered that she'd discourage any other offers by saying the offer they are working with is waaaaaay over listing price, and is cash.

Even if the would be competition calls the bluff, their buyer agent would be reluctant to write the offer.

If the buyer agent writes the offer, it's going in the trash bin of the seller agent.

I agree with all the posters above. For me, the short sale route simply was off the rails ethics issues. Decided to turn around before I got burned. I guess I am too honest and not a good poker player to deal in this ballpark of very unscrupulous wheeler and dealers. I think to make it work, you have to get DOWN or Under everyone else's very underwater ethical level. I got scared and ran.....lol.

OnTheFence says

just wondering how a listing agent could possibly get away with not showing an offer to a bank.

You can sue the agent and the bank for "specific performance". They have more lawyers than you do. So, good luck with that.

Does anyone understand what a short sale is ?
It is the banks attempt at cutting losses, because it knows the asset will continue to fall in value. Similar to "Shorting" stocks.