Real Estate News

Posted on: March 25, 2021

Something you might not know; the real estate industry is governed in part by the foundation for federal Anti-Trust laws “Sherman Anti-Trust Act of 1890.”

Anti-Trust Laws and Unfair Business Practices are designed to promote the policy and practice of COMPETITION. Some of the symptoms of a lack of competition are higher pricing and diminishing quality of a service or a product.

With that in mind, I can say I’m seeing a lack of the spirit of this law in our bustling market. If you have listed a property and have not provided a seller procured inspection, set a review date just a few days after listing, you are not allowing enough time for buyers to come through and inspect the property. Scheduling to see these properties is so booked, buyers cannot gain access to do their own inspection. The property will still receive multiple offers and sell over the asking price and many sellers will be thrilled, not knowing there were buyers locked out of the process that may have resulted in a higher selling price. While the market, in general, is competitive, this does not promote competition. As inventory increases, this will improve, but nothing beats a competent Realtor to guide you through this.

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