Quote:
Originally Posted by Cowboy89
I've heard countless stories of sellers making a 'teaser' list price well below market value in order to try to incite a bidding war, recieve bids above list price but below what they deem as market value and then instead of accept any of the offers just pull the property from the market and try again months later. Effectively wasting everyone's time.
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You'd have to have a pretty compliant realtor to get away with that. The standard MLS listing contract used by realtors in Calgary includes a provision that the full commission is due and payable if an unconditional offer at or above list price comes in, even if the seller doesn't take it. That's a pretty big disincentive to do that. Assuming the realtor isn't in on the shadyness, I suppose.