California Association of Realtors Corporate Legal Services Addresses Issues Involved in "Churning" Listings
We talked about this "churning" issue in our September 23 post. As stated previously, articles have appeared on other blogs such as SocketSite from people who are disgruntled at Realtors for manipulating statistics by withdrawing properties and relisting at a lower listing price to avoid the "reduced" stigma. From the Realtor's point of view, this does the best service for their clients who want to get the property sold for the best price. Using this technique gives the property "new" exposure to the real estate community and does not give the impression that "there is something wrong" with it. After all, isn't this the Realtors' job? They are in the business of selling properties, not generating statistics!Now the California Association of Realtors is addressing these issues by presenting a Q&A on their website. They say:
"With the changing market, real estate practitioners representing sellers face new challenges marketing their listings. Some have engaged in the practice of relisting or “churning” a listing. The following legal article addresses this subject and some of the related problems and issues."
Read more...
- Copyright© 2006 CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reprint and use this material for non-commercial purposes provided credit is given to the C.A.R. Legal Department. Other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved.
posted by SFResidence.com @ 8:51 AM
0 Comments:
Post a Comment
<< Home