The Case of the Disappearing Offer to Purchase: Phantom Offers in Durham Region

727484_ghost_1Just when we thought that real estate agents have had enough black eyes, the Toronto Star published two highly visible articles on how real estate agents might not be above board on the legitimacy of all the offers being presented, in a multiple offer situation.  Apparently, some agents are driving up prices of homes by suggesting that there might be more offers than there actually are.

Why would real estate agents do push prices up?

It might be suggested that they do this to get more commissionthe higher the sale price, the more money they make.  That could be true.  It seems that there are a lot of people looking for easy dollars from the huge proliferation of get-rich-quick (in real estate, on the internet, in stocks) filling up my in-box.  Real estate agents are after a quick buck.  Of course, the seller also benefits from the higher price, but let’s not look there.

Wait a minute.  What about Freakonomics?

Last year, and still this year, a huge selling book called Freakonomics 744335_briefcasesuggested that real estate agents don’t care about the extra $200 they get when your home sells for $10,000 more.  They want to take the money and runno concern for your pockets.

So which is it?

I am sure that there are some questionable real estate agents that are out to make a fast buck or to make the most bucksethics be damned.  Just as there are snake oil salesmen that are looking to sell you the next big trend.

For me, real estate is my career.  It feeds my family.  It lets my son and daughter play hockey and my youngest do gymnastics.  I will not sacrifice my family, my livelihood for the sake of a deal.

If I can get you more money, I will.  If the final price on the offer is legitimately the best for your home, I will tell you.  Your goals and mine are the same.  To get you the best price, in the shortest time, with the least inconvenience to you and your family.  Both our families win.