South Florida Real Estate Agents Luring Sellers

by Isaac Benmergui, Esq on May 30, 2012

Bloomberg news reports that real estate agents across the nation are luring sellers into giving the agent a listing. A South Florida agent has even hosted happy hours at local bars to coax the listing from the homeowner. One agent in California combs the deed records for owners that have been in their homes for more than four decades, hoping for a listing.

After the past few years of trying to coax buyers into diving into homeownership, now the agents need the listing. The once plentiful sea of available housing is drying up fast, but the sellers aren’t budging. Bank owned properties that were once hitting the market like wildfire are on the decline as banks come into compliance with the $25 billion settlement with the country’s attorney generals. In the first quarter of this year, foreclosure filings were at their lowest level since 2007, according to RealtyTrac.

Sellers know if they wait out the slow rise in home prices, that they can sell their home for more than it’s worth at present, leaving them closer to the original price they paid or at least closer to what remains on their mortgage.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

Previous post:

Next post: