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Originally Posted by eweissenbach
Let me see if I can make my question clearer. I did not think my daughter was cheated and my daughter did not think she was cheated. She got a very good price for both of her villas and the sales were quick and clean. My question was, and is, is it ethical to withhold these listings from the general public for a week or so while they are circulated “in house”? I feel that it is at the very least, borderline ethical. I get the concept that some people have alerted their agent to let them know when a certain style of home becomes available in a certain area, and they have every right to be notified when that listing hits the books, but I think a week or more to withhold it from the public is a disservice to potential buyers who aren’t so connected. It also could potentially favor investors over would be residents. My problem is an access issue rather than a money issue. Ed
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I don’t understand your distinction between access and money as they are clearly linked. Withholding the listing from the public limits the access and therefore the sales price does not represent true market value. That means your daughter probably did not get what the property was worth.
Regardless of whether she, you or anyone else is happy about the sale, this practice is not in the best interest of the seller and I thank you for bringing to our attention that this seems to be norm here.
My last home sale (up north): house listed on Friday, Open House on Saturday, offers submitted by 5pm on Sunday. Yes it was a hot market.