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This is a bad practice

Have you ever seen this.  An agent takes a listing on Wednesday.  instead of putting it on to MLS,  they keep it to themselves but they have time to put an Open House ad in the newspaper and get a sign ordered.  If they don't double end it themselves over the weekend,  they will put it on MLS. In a hot market,  they have a good chance of being the buyers agent. 

If you see this,  you should file a Grievance with your Association.

I must not have been clear.  I have received several answers to this Blog saying that the Seller can instruct the agent to hold it off the market.  I agree.  I was talking about the agent who doesn't tell the seller and delays putting it on MLS so they have a chance to sell it themselves.  This is a breach of fiduciary duty since the best way to get a competitive offer is to let the rest of the real estate community have a shot at the listing

Comment balloon 3 commentsTim Maitski • September 05 2008 08:22PM

Comments

Interesting post.  Lots of knuckleheads out there thinking there are short cuts to this business!  The best way to be involved in any part of this business is to always do the right thing for the customer. 

--Donna Mitchell, Home Loan Consultant, www.donnasgotmoney.com

Posted by Donna Mitchell- Middle Tennessee's Best Banker over 10 years ago

In my area, we have 48 hours to get a new listing in MLS or face the possibility of a fine.

Posted by xxx x over 10 years ago

I know many Realtors here in my area whose brokers apparently teach them to bring the listing to the broker first and give the broker's agents 72 hours to find a buyer. After 72 hours, it goes in the MLS.

We were taught the same thing—try to sell it in house first—back in the late '70s/early '80s when I was a Realtor in Houston, so I'm not sure it's "bad practice" per sé, just a different practice.

Posted by Not a real person over 10 years ago

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