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Thread: Real Estate Crash thread
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06-02-2021, 09:46 AM #14551
So he bought it himself? Yeah maybe dick move, but his legal relationship is with the seller so you weren’t ever a party to it.
But hey, this is lawyer stuff now. Hire a lawyer and sue if you were harmed.
Maybe the lawyers have a different take.
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06-02-2021, 10:00 AM #14552
Real Estate Crash thread
Not knowing something is literally being ignorant of it.
“lacking knowledge, information, or awareness about a particular thing.”
As far as being helpful, now you know. Everyone who read that is no longer ignorant!!
Dirt Pimp? Sure.
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06-02-2021, 10:02 AM #14553
No, it seems like whatever issue that is here, if there is one, is between the realtor and his client. With the listing agent and buyer being one and the same, it seems like a situation ripe for shenanigans, but any shenanigans would only legally injure the seller and not any potential buyers. So maybe there's a formal ethical issue there, maybe not, but either way, the potential buyers don't have any legal grounds to object.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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06-02-2021, 10:02 AM #14554
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06-02-2021, 10:06 AM #14555"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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06-02-2021, 10:07 AM #14556Samuel L. Jackson as Jules Winnfield: Oh, I'm sorry. Did I break your concentration?
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06-02-2021, 10:08 AM #14557
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06-02-2021, 10:15 AM #14558
Yeah.
I dont know, just an unhelpful DirtPimpTM but maybe there is some legal recourse for marketing laws. Bait and switch. ‘You marketed it for sale but de facto you never intended to sell it’
The RealtorAssociation could field an ethics accusation
https://www.nar.realtor/about-nar/go...#DutiestoCandC
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06-02-2021, 10:25 AM #14559
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06-02-2021, 10:28 AM #14560
Setting aside the RE agency ethics debate...
The listing agent (correct term) paid market value (or over) for a house that you wanted. Factually, that's no different than being outbid by a third party. Were you represented by your own agent, and did you submit your best/highest offer? If so, how were you harmed? If not, that's your agent's fault.
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06-02-2021, 10:32 AM #14561
Except that the listing agent may have wanted the property and did things to create downward pressure on offers, so that s/he could step in and make the highest offer. Which again means that the potential buyers did not suffer any damages (ie I agree with you), but that doesn't mean this was purely a market transaction.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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06-02-2021, 10:35 AM #14562
Assuming facts not in evidence
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06-02-2021, 10:39 AM #14563
I have some pretty insider information (I happen to be friends with the sellers son in law). This is pretty much exactly what happened. I was told I never had a chance to purchase.
Ted I am sure you have your opinion and it wont change, but I pretty much have the facts, not opinions and it was a douche move. Regardless nothing is going to change the outcome and I am not going to pursue it any further.Samuel L. Jackson as Jules Winnfield: Oh, I'm sorry. Did I break your concentration?
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06-02-2021, 10:41 AM #14564"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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06-02-2021, 10:43 AM #14565
You COULD at least file a complaint against the agent. Maybe won't go anywhere, but it's the least that shady people like that deserve: https://realestate.utah.gov/submit-a-complaint/
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06-02-2021, 10:47 AM #14566Registered User
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06-02-2021, 10:49 AM #14567
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06-02-2021, 10:56 AM #14568
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06-02-2021, 11:30 AM #14569
The seller would be the party injured if the price were suppressed. That’s why there should be all kinds of disclosure to the seller by their broker or agent in this circumstance. Because it opens the door for the seller being fleeced.
I wouldnt buy my own listing in general but certainly not if there were other buyers.
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06-02-2021, 11:33 AM #14570
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06-02-2021, 11:34 AM #14571
Real Estate Crash thread
I’m a Realtor (TM) and it’s fucking stupid. I pay them a bunch of dues that they use to lobby my city/state/county to pass laws that hurt me both personally and professionally, not to mention being ethically dubious IMO, make me take bullshit CE ethics courses, and have some standard of practice that’s so full of loopholes and back doors it only serves as a way for other Realtors (TM) to fuck each other over if they don’t get along. All this so my brokerage can put the Realtor (TM) logo on our business cards.
(I literally had to take an online course all about where and how I can refer to myself as a Realtor (TM) and how I can’t.)
99% of real estate law is just to CYA the agents involved and none of it really protects buyers. I do think agents can bring value to most people but the industry is pretty fucking whack.
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06-02-2021, 12:02 PM #14572
Agreed, there are agents with the experience to bring value to the relationship, however at what cost? My hoods average price is $3M with listing agents getting at least 2% ($60k) per transaction. I have an issue with that, but obviously people pay it.
I remember the days of $125k prices and 3% commissions ($3,750). Even 3% on $500k seems excessive to me for the work done. At $100 per hour are agents really putting 150 hours into the sale of a listing? Not even close in most circumstances.
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06-02-2021, 12:03 PM #14573
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06-02-2021, 12:06 PM #14574
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06-02-2021, 12:13 PM #14575
Weird one - Some moron out of town agent listed a prop down the street for $740K that was worth about $950K then accepted an offer for $780K in about a day.
https://www.zillow.com/homedetails/2...ource=txtshare
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