Originally Posted By DriveNASCAR:
I know it's not personal, but we were supposedly the ONLY people who made offers on either of the first two houses. It doesn't make sense to us. We don't get emotionally attached to the homes, so they're wasting their time with that.
The latest home just came on the market today and we're the first people to see it and the first to make an offer on it.
Did you ever wonder why licensed real estate brokers also often maintain a portfolio of investment properties? It's because they have access to, can restrict the access of others, and have prior knowledge advantageous to them.
In every other industry, it're referred to as "conflict of interest" or "insider trading," but is perfectly legal and acceptable behavior in the world of real estate.
Guess what? You are never the only person making an offer....even when you *think* the house just came on the market and you're the first one there. You are never the first one there....want to know why?
Real estate agents know what they are going to list before it hits MLS. Offers you submit to the listing broker's office can (and are often) withheld from the seller...in these cases the bank that owns the property. They effectually ignore prospective buyers off the street and 1) buy the house themselves 2) present offers only from parties with which they are affiliated for an under the table incentive.
Want to be first to the table? You've got to grease some palms...find an agent that works for the banks as a seller's agent and retain them as a buyer's agent. Then give them an incentive to bring you in before the green flag.
I say to hell with health care and tort reform...we need Real Estate Reform NOW!!!
It ain't right, it ain't fair....but it's the way it is.