Why realtors hide the best deals?
Let’s say you are looking at a REO for which they want 25k and they have just come down from 29k. The bank apparently did not really look at the property because it isn’t worth the asking price. The only good part of the house is the structure; the house would have to be gutted to rehab. You don’t want to do it yourself but you would buy it to flip if your low ball offer on it got accepted.
Otherwise you are not interested, but you don’t want to let this property go just yet because it has been listed by a realtor who doesn’t even have a sign in the yard. No one knows this house is even available. Also, sales comparables are anywhere from 45 to 106k, of course that is after rehab.
You are wondering why there is no sign in the yard? For one of two reasons. One could be simply that the realtor is lazy.
Second, if a realtor knows what they are doing, it means they have investors or friends for whom they are trying to hold the house. Then they hope that nobody notices the property and they will get to sell it to their buyer who buys from them and closes all the time. They may know it needs to get to a certain price range for their buyer to be willing to pick it up.
Anyway, this kind of thing happens all the time; and quite frankly that is just business and building relationships. You want to be that person eventually. This kind of relationships helps to get successful in real estate business. They are not hard to build over time but they do take a little skill.
