Real Estate

4 Bedroom Detached Home Listed at $1

  • Last Updated:
  • May 19th, 2017 11:11 am
20 replies
Banned
Feb 13, 2017
951 posts
1283 upvotes
Nice find.

Just contacted the sellers agent and offered 1000% over asking. They cant turn that offer down.
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
Both same realtor-- seems like this is her strategy
Deal Fanatic
Dec 5, 2009
5768 posts
3612 upvotes
Sanyo wrote: Both same realtor-- seems like this is her strategy
Also seems it's not working.
Banned
Aug 19, 2016
1903 posts
762 upvotes
Man, they should put in a rule that if the seller who listed their properties is obligated to sell when the asking price is reached.
That will stop them from doing these things. If they change their mind, then they will need to face a penalty.
Deal Expert
Feb 29, 2008
30106 posts
5547 upvotes
Montreal
Sanyo wrote: Both same realtor-- seems like this is her strategy
Clearly, not all members of our species have evolved to warm blooded animal status.
Banned
Feb 23, 2009
1670 posts
1496 upvotes
Oshawa
CollegeGraduate wrote: Man, they should put in a rule that if the seller who listed their properties is obligated to sell when the asking price is reached.
That will stop them from doing these things. If they change their mind, then they will need to face a penalty.
Communism!!
Deal Guru
User avatar
Mar 23, 2008
13006 posts
10009 upvotes
Edmonton
There's no obligation for a seller to take ANY offer, even if it's over asking price. Even if the house is fairly priced.

No sense getting butt-hurt if an auction isn't your cup of tea. Just don't participate.

C
Deal Addict
Dec 23, 2010
1897 posts
969 upvotes
Moon
CNeufeld wrote: There's no obligation for a seller to take ANY offer, even if it's over asking price. Even if the house is fairly priced.

No sense getting butt-hurt if an auction isn't your cup of tea. Just don't participate.

C
The problem is that this type of sales tactic creates propaganda from realtors who brag about how their house closed 500k over asking and is part of the reason why the bubble is worsening. It creates a sense of fear and urgency in buyers who feel they are being priced out and makes it seem that the market is extremely seller favored.
Banned
Feb 23, 2009
1670 posts
1496 upvotes
Oshawa
Applesmack wrote: The problem is that this type of sales tactic creates propaganda from realtors who brag about how their house closed 500k over asking and is part of the reason why the bubble is worsening. It creates a sense of fear and urgency in buyers who feel they are being priced out and makes it seem that the market is extremely seller favored.
You have a problem with Fake News?
Banned
Aug 19, 2016
1903 posts
762 upvotes
pkrash wrote: You have a problem with Fake News?
Yup. It looks much better if a pair of pants selling at $200 with 50% discount than the same pants selling at $100 with no discount.
Deal Guru
User avatar
Feb 2, 2014
11233 posts
3351 upvotes
Toronto
unodos wrote: https://www.realtor.ca/Residential/Sing ... -Pickering


Is it an ebay auction to start bidding from $1 ? or a typo ?
I've mentioned this several times on RFD. List price means nothing and there are even agents who list at $1.

Yet RFDer's still go crazy when a property sells for $xxx,xxx over asking.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Jr. Member
Oct 1, 2006
143 posts
18 upvotes
toronto
I offered $8.47. Will let you all know if I get it or not.
Deal Addict
Feb 24, 2008
3583 posts
2275 upvotes
Mississauga
jmjoseph wrote: I offered $8.47. Will let you all know if I get it or not.
I offered $8.88....its mine. Gonna flip for $88.88....wow
Deal Addict
Feb 5, 2009
2808 posts
940 upvotes
Newmarket
I don't understand this strategy. If I am searching mls I would select price range and start at a certain level to avoid places for rent, parking spots and whatever else that goes for much less than a house for sale.
Deal Addict
Sep 13, 2016
3606 posts
2409 upvotes
Mississauga
Looks like I can buy another property in Canada.. Lol.. Let me put in offer at $88.88 to price @mau_mau out.

Why don't we all bombard and pester her (agent) will similar non-sense offers. Would serve her wall.
Member
Mar 18, 2015
238 posts
184 upvotes
Mississauga, ON
Just keep putting in an offer and keep wasting their time.
Deal Addict
Dec 17, 2007
2625 posts
1620 upvotes
Alliston, ON
They should base agents commission price off listing price, not selling price, that would stop these types of listing and some of the bidding wars that go 200-300k over listing price

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