It feeds on itself, especially when the allure of double-ending the commission is so strong in a tight-inventory environment. When agents see other agents touting their off-market business, they think it must be ok, so they do it too. NSDCC Annual Closed Sales With Zero Days On Market Year If you mark your listing pending within a few hours of it going live on the MLS, you didn’t get full exposure. Here’s proof – not every listing with zero days on market was sandbagged, but let’s face it. Last night I popped off in the comment section about how the business gets shadier every year. After the listing was put on the open market, the flood of offers caused regrets about the workload, so they just grabbed one and shut it down.
Look what happened to the agent this week who received 20+ offers (they told me the final count was 30 offers). The extinction of buyer-agents is well underway.Īs the market tightens further, more listing agents will be tempted to sandbag their listing and not put it on the open market. It means that when listing agents get a hot new property to sell, they will be tempted to find their own buyer first, and/or spoon it to a select few of their agent friends, and then maybe expose it to their office mates before putting it on the MLS/open market. It suggests that the inventory of quality homes will be extremely low this year. I spoke to a few agents on the broker preview yesterday about business this year, and the common theme was that agents are have big trouble finding people who want to sell their home.
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