Unfortunately it appears homes are being listed in the MLS at prices that may not be what the seller will actually accept.
My guess is the thought process of the listing real estate agent is by listing the home at a price is low enough the home will attract more buyers which increases the chance of receiving offers. Once offers start coming in the seller and agent no doubt are counting on multiple offers to compete against each other thereby raising the price the home sells for.
Recent information received from FAR should give those agents engaging in this type of listing manipulation pause for concern.
The FAR article asks the question:
Q: If a real estate licensee lists a property at a below market price he knows the seller probably won’t accept, is the licensee in violation of Florida real estate license law?
FAR’s General Counsel Randy Schwartz responds, "While a violation of the Florida real estate license law is a matter to be determined by the Florida Real Estate Commission, in my opinion, if a licensee lists a property for a price the licensee and the seller know is not acceptable, a case of misrepresentation and false advertisement can be made under Chapter 475.25(1)(c) Florida Statutes. It would not make any difference if the listing indicated that the selling price was subject to a third party lender or not; it is more a matter of advertising something that is known to not be acceptable."
If you are interested in finding legitimate good real estate deals, contact me or search for homes on this web page.
Related Florida real estate views:
Real estate investors should take note
Is it a buyer real estate market in Central Florida?
Is your real estate agent showing you all the wrong homes?
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