[atlarge]

Just out of curiosity I went online to check on about a dozen or so homes from 8 to 10 months ago that I've made cash offers on (but didn’t get) to see how much those homes end up selling for. To my surprise, I found two properties that were sold for less than my cash offer, one was $2500 less and the other was $4800. Both homes were in the $150k to $160k range so the amount was quite significant. Now I’m beginning to wonder if it’s possible that seller’s agent/broker intentionally kept higher offers outside of their brokerage from their clients and provide the buying opportunities only to buyers that they (also) represents so to keep both seller and buyer's side commissions within the office instead of trying to get the highest amount for a client's house. If this stuff does go on, how common is it and what can a seller do avoid agents/broker who places their interest above their clients when they decide to sell a house?

[bumpercar]

It has happened to me. I even filed a complaint at Nevada Real Estate Commission but they called and said they can't investigate without more proof. I said isn't that the purpose of an investigation, for you to uncover proof? I got no response. Vegas is not a town known for its integrity.

[lvoc]

Originally Posted by atlarge

Just out of curiosity I went online to check on about a dozen or so homes from 8 to 10 months ago that I've made cash offers on (but didn’t get) to see how much those homes end up selling for. To my surprise, I found two properties that were sold for less than my cash offer, one was $2500 less and the other was $4800. Both homes were in the $150k to $160k range so the amount was quite significant. Now I’m beginning to wonder if it’s possible that seller’s agent/broker intentionally kept higher offers outside of their brokerage from their clients and provide the buying opportunities only to buyers that they (also) represents so to keep both seller and buyer's side commissions within the office instead of trying to get the highest amount for a client's house. If this stuff does go on, how common is it and what can a seller do avoid agents/broker who places their interest above their clients when they decide to sell a house?

Relax. Most of the time there are straight forward explanations. However, if it makes you feel any better, every once in a while someone cheats.

Most of the "cheating" I have seen was probably legal. That is homes shown before they were listed and sold in the first two hours of hitting the market. Nothing illegal or violating any code.

It is also possible for the seller, particularly in a short sale, to select less than the highest bidder. It is an interesting situation and sometimes the seller choses to direct the system. And there really is little to prevent it. Did money change hands on the side? Perhaps. But that may not be illegal either.

So I suspect you should just concentrate on the 8 where you did not get screwed...

I had a really nice client, who I did sell a nice big house to, who wanted to do a portfolio of small houses to rent. We bid I think on 15 or so. Ended up walking away from the one deal we actually made. I would note however he could easily have had two thirds of these. And he was at the right place in the market. So he drove a hard bargain that cost him around $400,000 in profit by now...and all those rentals would have made a good return. So you can certainly be too clever at this stuff.

[007 license to sell]

Dual agency is a tough road to hall, I believe whether your a buyer or a seller you should have your own representation. In some states it's illegal to do a dual agency and I feel that Nevada should follow suit. It's like using the same attorney in a divorce.