I just finished helping one of my investor’s buy two properties from the same listing agent and the same sellers. This listing agent was from Southern California. She put both properties only on her MLS in her own town. This put the properties on Realtor.com, Zillow, etc, but it was not to be found on the Sacramento area MLS. So local agents could not find her listings when doing a search on the MLS for their clients. She obviously didn’t want to pay the Sacramento MLS to host the listing, nor did she want to pay a local agent to do so. After 43 days on the market and several price reductions my investor found them and sent them to me off of Realtor.com. I then negotiated both properties down from $165,000 each to $145,000 for one and $131,000 for the other. Not bad for two properties both over 1,600 square feet in the South area.
This is one of those situations where listing with an agent who is many hours away in another city costs you BIG $! Who after all has the heart to tell the sellers (or who can legally?) that if they had only listed locally with an agent their two properties would have sold for a higher sales price and sold far far faster. This is where an agent thinking only about their own commission, robs their sellers of valuable equity they could have received if they had listed with an agent that had more integrity and put their sellers needs first, over their own.
I am very satisfied that I did my job and helped my investor get a great deal on two properties that he really wanted to purchase.