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everything
2012 Feb 13, 12:08pm
Ask them if they paid cash for it. I never hear of realtors in trouble unless they are straw buying, openly scamming people. It seems to me agents/realtors get a piece of the pie no matter what, and that's how the game is rigged.
bighorse
2012 Feb 13, 2:08pm
What's the address?
I've heard from more than 1 RE Agent that their client (bank) specifically allows them to double dip the property for a lower price (but with reduced commission). They build strong relationships with these banks.
Banks don't really care about double dipping. Whatever gets the house sold and off the books.
bubblesitter
2012 Feb 14, 3:39am
Banks don't really care about double dipping. Whatever gets the house sold and off the books.
No,they are not that stupid,not especially when our govt. is on their side.
justme
2012 Feb 14, 3:54am
I think what we should be worried about here is not the commission double-dipping, but that the listing was a "pocket listing", meaning not openly with address on MLS, and therefore not really marketed to give the bank (or the original owner if not already foreclosed) a fair shake at recovering as much as possible of their losses.
I find it hard to believe that banks are knowingly permitting this. Please enlighten me about what is *really* going on.
Malkovich
2012 Feb 14, 3:08pm
I am curious about this as well. We all know that realt-whores are psychopathic, lying, stealing scumbags but how can banks allow money to fly out the door?
The banks are nickel and diming us to death on transactional fees every chance they get. It doesn't seem logical that they would knowingly let thousands of dollars fall off the back of the truck.
Banks don't really care about double dipping. Whatever gets the house sold and off the books.
No,they are not that stupid,not especially when our govt. is on their side.
If you've got a massive inventory and are losing money by having it, you will take a small loss to get it off your hands. They made enough money on the front end of the deal that it's not a big problem.
bubblesitter
2012 Feb 14, 10:53pm
If you've got a massive inventory and are losing money by having it, you will take a small loss to get it off your hands.
I don't see that fire sale of their massive inventory!
The bank finished foreclosing on the property next door, an agent's sign post went up, it never got any fliers, the property never showed up in the MLS, and the same set of people started stopping by with friends to whom they explained that they'd bought the place.
A Zillow search in the area turned up a probable match but
(undisclosed address), Sunnyvale, CA
with no information.
What are the chances the agent isn't double dipping?
How not Kosher is that as far as the Realtor(TM) people are concerned?
#housing