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Will a realtor mark a home pending before showing it to create fake demand?

So there's a house that's been sitting on the market for 92 days I am supposed to look at tomorrow.

I did a ton of research and it seems to me it was listed high to try to take advantage of the spike in estimated sales prices due to the house next door selling. Since there aren't a lot of comparable homes nearby I believe this skewed the estimated sales value numbers, encouraging the sellers of the house I'm looking at to list the very next month at a hugely inflated price. They have dropped the listing price 85k in that time.

After looking at a ton of values for comps, off market, and tax value my math is showing that the house should be listed at about 16 to 20% less of where it is now. The house next door that I believe is skewing their listing price has 1000+ more square feet, more privacy due to trees/woods, is 73 years newer, has 16 acres compared to 3, very similar condition inside, similar amenities (pool, barn).

I settled on a price that I would offer based on my math, with the thought in my head to allow for another 20-30k wiggle room due to the market.

Now this morning it's suddenly pending the day before we are supposed to look. Keep in mind the homeowners are living in the home with listing stating its contingent on them finding the home they want. We struggled to schedule a showing due to family in for the holidays.

Seems a bit odd to me so I was wondering if it's relatively common for a listing to be marked pending right before a showing to induce fomo/a bidding war?

Thank you!

submitted by /u/cream_pie_king
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/rswr09/will_a_realtor_mark_a_home_pending_before_showing/
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