A questionable practice?<\/em>It would appear that numerious RE firms here in the Bay are making it Are Real Estate Firms practicing this in other areas? To my knowledge, not in our area. If it is as you describe it, I don’t see it as “questionable” but intentionally deceitful. It is in direct violation of the Realtor Code of Ethics (download a copy of the code here<\/a>) Article 1 (treat all parties fairly), Article 2 (avoid exaggeration, misrepresentation, or concealment of pertinent facts) and Article 12 (shall be careful at all times to present a true picture in their advertising and representations to the public). It would also likely be actionable by the California Attorney General’s office,<\/a> as well.<\/p>\n If some Realtors are doing this sort of thing I believe it should be stamped out and stamped out hard.<\/p>\n","protected":false},"excerpt":{"rendered":" Christopher R. Dunn writes: A questionable practice?It would appear that numerious RE firms here in the Bay are making it a practice to List, market with open houses, advertise properties at a below market number with no intentions of selling at that number.The listing broker will take offers and hold them until a later date, […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,10],"tags":[],"class_list":{"0":"post-1395","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-realty-reality","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2264,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2264\/7373-words-the-nar-code-of-ethics\/","url_meta":{"origin":1395,"position":0},"title":"7,373 Words – The NAR Code of Ethics","author":"Jay Thompson","date":"November 26, 2007","format":false,"excerpt":"In his post here earlier today, Jim Duncan said something I've thought since the day I stood up, raised my right hand and pledged to uphold the Realtor Code of Ethics: I have argued before that if you need 8 9 pages to explain ethics, rather than a simple code\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2404,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2404\/preliminary-nar-gateway-report-released\/","url_meta":{"origin":1395,"position":1},"title":"Preliminary NAR Gateway Report released","author":"Jim Duncan","date":"December 21, 2007","format":false,"excerpt":"The Gateway facilitates multi-lingual access to real property information.2.Information available to participants and subscribers is: comprehensive timely relevant accurate objective secure formatted so it can be annotated, supplemented or corrected by other participants or subscribers whose contributions will be acknowledged and electronically \u201cfingerprinted\u201d \u201cofficial\u201d information (i.e., data available from recognized\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":896,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/896\/nar-doj-russ-russell-part-1\/","url_meta":{"origin":1395,"position":2},"title":"NAR & DOJ – Russ & Russell Part 1","author":"Russell Shaw","date":"January 15, 2007","format":false,"excerpt":"Russ Cofano responded: Hi Russell, Happy to add some background here. You ask, \"But aren't the \"anti-competitive policies\" basically who has the right to decide how and where listings will be displayed?\" Kinda. The initial DOJ complaint against NAR revolved around NAR's initial Virtual Office Website (VOW) policy that allowed\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1453,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1453\/if-lenders-divorce-the-commissions-theyll-be-divorced\/","url_meta":{"origin":1395,"position":3},"title":"If lenders divorce the commissions, they’ll be divorced","author":"Greg Swann","date":"May 21, 2007","format":false,"excerpt":"Jim Duncan issues a battle cry for divorced commissions:As a profession, we need to rid ourselves of Cooperative Compensation and the practice of the listing broker paying the Buyer's Agent. Cooperation between Brokers need not go away. In fact, without cooperative compensation, the practice of real estate representation will be\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2053,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2053\/disingenuous-diatribe-compliance-is-crap-its-about-the-cash\/","url_meta":{"origin":1395,"position":4},"title":"Disingenuous Diatribe: Compliance is Crap-It’s About the Cash","author":"Brian Brady","date":"October 15, 2007","format":false,"excerpt":"Broker-controlled blogging was a hot topic this weekend. I tried to raise some eyebrows (and awareness) with my speculation about the internet land grab the employing brokers and banks might try. I think a few things might have gotten lost in the translation. While I said that the brokers and\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":555,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/555\/defining-the-divorced-commission-a-short-hand-term-for-understanding-alternative-real-estate-compensation-models\/","url_meta":{"origin":1395,"position":5},"title":"Defining the Divorced Commission: A short-hand term for understanding alternative real estate compensation models . . .","author":"Greg Swann","date":"October 19, 2006","format":false,"excerpt":"I just spent a very informative hour on the phone with Jeff Brown, and I want to summarize what I took away from our conversation. First, Jeff has a very different understanding of the term \"co-broke\" compared to the way it is used in Arizona. When we went to essentially\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1395"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1395\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"real_estate_book_sm\"](\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/05\/real_estate_book_sm.jpg\")
a practice to List, market with open houses, advertise properties at a below market number with no intentions of selling at that number.<\/em>The listing broker will take offers and hold them until a later date, usually two weeks or so to generate “competitive” offers.<\/p>\n
\n<\/em><\/p><\/blockquote>\n