Don't Whisper Away Your Profits: Why Off-MLS Can Cost You
Dec 26, 2023Real Estate Attorney Dean Rossi Pat Kapowich explores the hazards and legal implications of off-MLS listings in real estate, emphasizing the importance of full disclosure in protecting sellers from post-sale litigation.
Are you thinking of going off-market? Think again! Pat Kapowich breaks down the legal risks of pocket listings for home sellers, from disclosure nightmares to post-sale lawsuits. Don't get blindsided – watch this quick video before making a costly mistake.
Real estate professionals have an ethical responsibility to fully explain the pitfalls of off-MLS ("pocket" or "whisper") listings to clients before pursuing this limited-exposure route. Sellers could see lower offers, fewer showings, limited marketing, and inadequate competition if their home lacks the broad, readily accessible Multiple Listing Service.
Legal disputes could arise post-sale if home sellers feel misled by the limited visibility. Agents putting their interests first risk allegations of breach of fiduciary duty.
View the full interview via theKapowich on Real Estate vault via episode #235 with Real Estate Attorney Dean Rossi and MLS CEO Jim Harrison: https://youtu.be/AMmg9MrN7mA?si=4_Wt5mNDjiPXwFAJ&t=2
Special Guest:
Real Estate Attorney
Dean C. Rossi
Rossi Domingue Fox LLP
Email: [email protected]
