Brother Gideon’s got the story – certain brokers representing bank-owned properties (Gideon’s too polite to name names, but Raul Villacis is the primary, but not the only offender here) list the properties on out-of-town multiple listing services but do not, contrary to the Greenwich Multiple Listing Service’s rule, put it up on our board. They hide the property from people actually looking for Greenwich homes, sell it to their own clients and assure their bank client that “sure, I listed it on the MLS.”
There’s no rule that requires a broker who is not a member of the GAR to list here; but if he is a member, then he has agreed to abide by our rules. The applicable rule for these matters states that, if a GAR member lists a property on any other multiple listing service, he must also list it here.
Long past time the board cracked down on this. Not only is it annoying to agents, it’s a fraud on clients who think their property is getting exposure to the full marketplace when in fact it’s being hidden.