Seattle

[seatowner]

I've noticed a couple of listings in South Snohomish County over the past two days that are pending upon being listed.  Does that mean they were sold prior to going on the market?  Why bother with listing through the MLS?  Looks like it's definitely a seller's market in some areas.

[oddman]

Well most RE people will tell you  that sold fast and fair.

Me I believe it is mostly against the interests of the seller to sell before exposing the property to a wider market.

RE people completely disagree,  but it is 100% in the interest of  Real estate agents to sell right away. Holding out for an extra 20K  puts very little money in the pockets of the agents but can mean twice the work.

The entire system is designed to maximize returns for listing agents NOT clients.

Other countries where a cartel did not get hold of the listings markets,   costs are much much lower and buyers and sellers have much less overhead to endure.

And of course this whole stupid BS  of it taking two agents to sell a house, is non existent in normalized markets. It is exists only becuase of the massive and powerful lobbying conducted here in WA and across the nation.

[SarahH]

I've seen a lot of these too, and its frustrating to both me and my buyers that they don't even get an opportunity to look, especially when they make themselves readily available to see homes right away.  

I just wanted to point out though, that in the case of new construction this happens a lot: because new construction communities have sometimes 100+ homes to sell, obviously they don't all get listed at the same time.  But, if a buyer purchases a home that isn't listed, oftentimes the agent representing that builder WILL input the listing into the MLS and take it to pending, for several reasons - one being that it shows their good sales activity which is attractive to other agents with buyers, and two because it helps the MLS maintain accurate sales data about area activity.  

[seatowner]

The last two I have seen were not new construction and two different agents.  Maybe they did sell for full asking price in the first hour of listing.......if they did, they were priced too low!

[Fishmarty]

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seatowner wrote:

The last two I have seen were not new construction and two different agents.  Maybe they did sell for full asking price in the first hour of listing.......if they did, they were priced too low!

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I don't understand this, I thought seller makes final decision to accept offer or continue to wait for one more week or two. It is not like agent says sell then the house is sold.

I didn't sell any of my houses yet but I brought a lot. And I know you can put on terms and conditions in the contract between you and your agent for my best interests. If not I will go find another agent.

Pending on the same day of listing might have its legitimate reasons and the seller fully agreed and knew his situation, unless the seller is not that smart.