What to do when a home is listed at multiple prices?

Yeah, a little dicier with flippers. You never really know what or who you are dealing with, and sometimes their relationships with realtors can be a bit odd. My guess is one realtor sold the flippers on the idea that they could get more for the listing. More info is better than less in this situation — if you just submitted a bid right now, you really don’t know if it would get conveyed properly. I would just call each realtor up and ask what the deal is. You may get answers and even if they are less than candid or somewhat opaque, you’ll learn something useful about who you are dealing with. Just set your own internal bullshit detector at its most sensitive.

slopefarm

in Real Estate - Sales 12 years and 10 months ago

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srsqualms | 12 years and 10 months ago

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What would you do if you were interested in a house that was listed on 3 agencies at 3 different prices?  One is a big real estate brand and the ask is $40K higher than the listing on the site of a  foreclosure/renovation mill.  (I’ve just reached out to them but haven’t heard back yet.)  Do you contact the cheapest listing agent, or does it not matter in the end because the selling price is going to be up to the seller and not the agent?  In this day and age, it seems silly to list a place $40K higher on some sites than others, given how easy it is to comparison shop. I don’t mean to sound naive, but how does this sort of thing usually play out?

slopefarm | 12 years and 10 months ago

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OK, I’ll bite though I can’t say I really KNOW an answer here. I think you need more info before you can act. Here are some possibilies: 1\. If you saw the house with a particular realtor you may be stuck dealing with that realtor (or, put another way, the owner is stuck paying that realtor a fee if you buy, no matter who you put your bid in with). But it sounds like that hasn’t happened yet. (If not, do you really want to make an offer without seeing it first?) Perhaps call all three and put the same questions to each — are you prepresenting this property? Do you have an exclusive? I see it listed with three agencies at different prices — what’s the deal? And what’s the asking price? 2\. If you haven’t seen it through an agent yet, look up the property on ACRIS, see who owns it and contact the owner directly. Be very polite and apologetice (owner clearly wants this done through a realtor). Say you are interested in seeing the house and may put in a bid, but you are confused by the multiple listings at different prices. Ask who the owner would like you to deal with. (The answer will also tell you implicitly which is the correct asking price.)

srsqualms | 12 years and 10 months ago

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Interesting thought.  But it’s owned by “Street Address LLC” flippers.  Do you just mean representing or do I have to learn some new lingo about “pre”presenting?  I really don’t get what the deal is when a place doesn’t sell with one realtor (in this case, a fourth realtor) and then gets re-listed by another realtor for $100K more.